Corporate governance workshops
Since November 2009, Exceed has offered a serious of workshops to discuss the implications of the latest King Report on Corporate Governance (King 3), which took effect on 1 March 2010. Regarded as an international benchmark, the Report is applicable to all organisations regardless of size, nature and form of incorporation.
According to presenter Louw van der Merwe, “Many participants arrive at the workshops believing that King is a ‘necessary evil’”. However, they soon realise that the underlying philosophy of the report is sustainability, while its objective is to ensure a long-term view within businesses. “These are good, solid business principles,” Louw said. “The concepts contained in King 3 are not new; they are based on common principles that most good organisations have been applying for years.”
The Report promotes an “apply or explain” approach. In terms of this, organisations may decide against implementing a particular recommendation because it may not be in their best interest. Instead, they can decide to apply the recommendation differently, or apply another principle, achieving the same corporate governance principles of fairness, accountability, responsibility and transparency. Following their decision, the directors then need to explain to their stakeholders the reasons for not applying certain recommendations, resulting in voluntary compliance with the spirit rather than the letter of the Report.
Discussions at the Exceed workshops follow the structure of the King report. “By networking and sharing experiences and success stories from their organisations, participants convince one another of the applicability of most of the recommendations in the Report,” Louw said. “They leave feeling positive about the King Report and with the knowledge that by implementing the principles and recommendations, they will ensure the sustainability of their organisations.”
More workshops will be presented in future depending on client demand. For more information contact Louw van der Merwe on tel. (021) 882 8140 or e-mail email@example.com.