King IV Project Lead Institute of Directors in Southern Africa (IoDSA)
KingIV project updates
Ansie is currently the King IV Project Lead. The role involves ensuring the successful finalisation of the King IV Report on Corporate Governance for South Africa, including design of process and governance structures, liaison with stakeholders and content management and editing.
Ansie regularly writes and presents on corporate governance and ancillary matters. She participates in various forums and bodies that have as their objective the promotion of various aspects of governance. Ansie was instrumental in developing the Governance Assessment Intrument (GAI) which has tailored the recommendations in King III for application by SMEs, state-owned entities, non-profit organisations, medical schemes and retirement funds.
The Institute of Directors in Southern Africa (IoDSA) and the King Committee have made the draft version of the latest King Report—King IV—available for public comment on 15 March 2016.
The King Committee under the leadership of Prof Mervyn King and the King IV task team, led by Ansie Ramalho, the former CEO of the IoDSA, have been working on the new document since late 2014. A number of developments in corporate governance made a new version necessary. Among these developments are the increased focus on executive remuneration; the key role of social and ethics committees, the regulations for which only came out after the launch of King III; and the continuing development of Integrated Reporting, which was first recommended in King III.
The King Codes have helped make South Africa a global leader in corporate governance—subjecting King IV to the rigor of public comment is thus important. King IV breaks new ground by offering an integrated approach to corporate governance encompassing the economic, social and environmental spheres as well. It also impacts on sectors other than listed or large companies such as state-owned enterprises, local government, non-profits, SMEs and retirement funds, among others. Quality and effective corporate behaviour offers a way out of many of our current economic and sustainable development challenges.
King IV differs from King III in a number of ways. The Code is now integrated into the Report, with a clear differentiation between principles and practices, with the latter linked to outcomes—these and other innovations are designed to make it easier to use. Especially noteworthy, King III’s “apply or explain” has become “apply and explain”. The intention here is to help organisations move beyond a compliance mind-set to describing how implemented practices advance progress towards giving effect to each principle - the application of which is assumed due to it being basic to good governance.