Governance in South Africa: KING Reports and Stakeholders
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Questions and Answers

What is the primary goal of corporate governance?

  • To increase profits
  • To ensure ethical and effective leadership (correct)
  • To reduce the frequency of corporate scandals
  • To promote organisational growth

    • What is the term for people or groups involved in, impacted by, or having an interest in an organisation?

  • Directors
  • Employees
  • Stakeholders (correct)
  • Shareholders

    • Who provides a basic definition of governance?

  • The Corporate Governance Board
  • The King IV Report
  • Sir Cadbury (correct)
  • The Institute of Directors in Southern Africa

    • What is the primary characteristic of effective governance?

    <p>Ethical culture and effective control</p> Signup and view all the answers

    What is the main difference between corporate governance and organisational governance?

    <p>One is concerned with the governance of corporations, while the other is concerned with the governance of organisations</p> Signup and view all the answers

    What is the purpose of the King IV Report of Corporate Governance for South Africa?

    <p>To provide guidelines for corporate governance in South Africa</p> Signup and view all the answers

    What is the primary role of an Executive Director in an organization?

    <p>To oversee the overall strategy and direction of the organization</p> Signup and view all the answers

    Which of the following is a characteristic of an Independent Non-Executive Director?

    <p>Free from any business relationship with the company</p> Signup and view all the answers

    Who should not simultaneously hold the positions of CEO and Chairperson of the Board of Directors?

    <p>The CEO of the organization</p> Signup and view all the answers

    What is the requirement for a retired CEO to become the Chairperson of the Board of Directors?

    <p>Three complete years must have passed from the end of the CEO's tenure</p> Signup and view all the answers

    What is the primary difference between an Executive Director and a Non-Executive Director?

    <p>The level of involvement in the day-to-day running of the organization</p> Signup and view all the answers

    Why is it important to have Independent Non-Executive Directors on the Board of Directors?

    <p>To provide objective oversight and guidance to the organization</p> Signup and view all the answers

    What is the recommended approach for all organisations in the public and private sectors in terms of governance principles and practices?

    <p>Apply and explain</p> Signup and view all the answers

    What is the ideal composition of the Board of Directors in terms of non-executive directors?

    <p>A majority of non-executive directors</p> Signup and view all the answers

    What is the minimum requirement for executive officers on the Board of Directors?

    <p>At least one executive officer, including the CEO, should be appointed</p> Signup and view all the answers

    What is the primary role of the Board of Directors in terms of governance?

    <p>To discharge its governance roles and responsibilities objectively and effectively</p> Signup and view all the answers

    What is the desired outcome of having a balanced composition of the Board of Directors?

    <p>To ensure that the Board of Directors can discharge its governance roles and responsibilities objectively and effectively</p> Signup and view all the answers

    What is the key characteristic of independent non-executive directors on the Board of Directors?

    <p>They are independent and objective in their decision-making</p> Signup and view all the answers

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