Analysis of Nine Pillars of Corporate Governance Principles for Small and Med...Karan Mahajan, CCRA
The report involved critically analyzing the nine pillars of corporate governance for SMEs in Dubai, providing recommendation for strengthening the principles as well as comparison with OECD Principles of Corporate Governance, Commonwealth Association for Corporate Governance and Corporate Governance principles in India.
Role of board of directors -Corporate GovernanceRehan Ehsan
This Presentation states the role of board of directors in respect of corporate governance of Pakistan. Reviewing this clear the concept of their legal role in Pakistan.
Corporate governance in housing finance (LIC) Corporate governance is the mechanisms, processes, and relations by which corporations are controlled and directed. . Governance structures and principles identify the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and include the rules and procedures for making decisions in corporate affairs.
Analysis of Nine Pillars of Corporate Governance Principles for Small and Med...Karan Mahajan, CCRA
The report involved critically analyzing the nine pillars of corporate governance for SMEs in Dubai, providing recommendation for strengthening the principles as well as comparison with OECD Principles of Corporate Governance, Commonwealth Association for Corporate Governance and Corporate Governance principles in India.
Role of board of directors -Corporate GovernanceRehan Ehsan
This Presentation states the role of board of directors in respect of corporate governance of Pakistan. Reviewing this clear the concept of their legal role in Pakistan.
Corporate governance in housing finance (LIC) Corporate governance is the mechanisms, processes, and relations by which corporations are controlled and directed. . Governance structures and principles identify the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and include the rules and procedures for making decisions in corporate affairs.
Notes of Module 5 Corporate Governance
Content
Concept of Corporate Governance
Corporate Governance in India
Objective of Corporate Governance
Features of Corporate Governance
Elements of Corporate Governance
Importance of Corporate Governance
Important Issues in Corporate Governance
Corporate Governance and Agency Theory
Reforming Board of Directors
*Birla Committee
*Naresh Candra Committee
*Narayana Murthy Committee
Bibliography
www.google.com
related materials
A light explanation of Corporate Governance for those who want to have a quick understanding of the concept. This presentation was designed for a small team of mixed background individuals and enlightened them with the insight on the concept of Governance.
If you want to help or donate please donate at my paypal:
dyokimura@gmail.com
For Business presentation
SUPPORT ME:
https://www.buymeacoffee.com/dyokimura6
CHECK MY GAMING CHANNEL:
https://www.youtube.com/channel/UCoKOObshfyyxhVkw1VjyQNA
Opportunities for CAs as independent directors to enhance the credibility and...CA. (Dr.) Rajkumar Adukia
The concept of Independent Directors is a welcome step for corporate governance in India. Independent directors are expected to use their capacity, knowledge, and resources towards the maximization of stakeholders’ value and well-being. They ensure the progress of mankind through transparency, accountability, and truthful disclosure of the state of affairs of the company. The Companies Act, 2013 has conferred greater empowerment upon Independent Directors to ensure that the management and affairs of a company are being run fairly and smoothly.
Notes of Module 5 Corporate Governance
Content
Concept of Corporate Governance
Corporate Governance in India
Objective of Corporate Governance
Features of Corporate Governance
Elements of Corporate Governance
Importance of Corporate Governance
Important Issues in Corporate Governance
Corporate Governance and Agency Theory
Reforming Board of Directors
*Birla Committee
*Naresh Candra Committee
*Narayana Murthy Committee
Bibliography
www.google.com
related materials
A light explanation of Corporate Governance for those who want to have a quick understanding of the concept. This presentation was designed for a small team of mixed background individuals and enlightened them with the insight on the concept of Governance.
If you want to help or donate please donate at my paypal:
dyokimura@gmail.com
For Business presentation
SUPPORT ME:
https://www.buymeacoffee.com/dyokimura6
CHECK MY GAMING CHANNEL:
https://www.youtube.com/channel/UCoKOObshfyyxhVkw1VjyQNA
Opportunities for CAs as independent directors to enhance the credibility and...CA. (Dr.) Rajkumar Adukia
The concept of Independent Directors is a welcome step for corporate governance in India. Independent directors are expected to use their capacity, knowledge, and resources towards the maximization of stakeholders’ value and well-being. They ensure the progress of mankind through transparency, accountability, and truthful disclosure of the state of affairs of the company. The Companies Act, 2013 has conferred greater empowerment upon Independent Directors to ensure that the management and affairs of a company are being run fairly and smoothly.
Things to remember while upgrading the brakes of your carjennifermiller8137
Upgrading the brakes of your car? Keep these things in mind before doing so. Additionally, start using an OBD 2 GPS tracker so that you never miss a vehicle maintenance appointment. On top of this, a car GPS tracker will also let you master good driving habits that will let you increase the operational life of your car’s brakes.
"Trans Failsafe Prog" on your BMW X5 indicates potential transmission issues requiring immediate action. This safety feature activates in response to abnormalities like low fluid levels, leaks, faulty sensors, electrical or mechanical failures, and overheating.
Core technology of Hyundai Motor Group's EV platform 'E-GMP'Hyundai Motor Group
What’s the force behind Hyundai Motor Group's EV performance and quality?
Maximized driving performance and quick charging time through high-density battery pack and fast charging technology and applicable to various vehicle types!
Discover more about Hyundai Motor Group’s EV platform ‘E-GMP’!
Why Is Your BMW X3 Hood Not Responding To Release CommandsDart Auto
Experiencing difficulty opening your BMW X3's hood? This guide explores potential issues like mechanical obstruction, hood release mechanism failure, electrical problems, and emergency release malfunctions. Troubleshooting tips include basic checks, clearing obstructions, applying pressure, and using the emergency release.
Comprehensive program for Agricultural Finance, the Automotive Sector, and Empowerment . We will define the full scope and provide a detailed two-week plan for identifying strategic partners in each area within Limpopo, including target areas.:
1. Agricultural : Supporting Primary and Secondary Agriculture
• Scope: Provide support solutions to enhance agricultural productivity and sustainability.
• Target Areas: Polokwane, Tzaneen, Thohoyandou, Makhado, and Giyani.
2. Automotive Sector: Partnerships with Mechanics and Panel Beater Shops
• Scope: Develop collaborations with automotive service providers to improve service quality and business operations.
• Target Areas: Polokwane, Lephalale, Mokopane, Phalaborwa, and Bela-Bela.
3. Empowerment : Focusing on Women Empowerment
• Scope: Provide business support support and training to women-owned businesses, promoting economic inclusion.
• Target Areas: Polokwane, Thohoyandou, Musina, Burgersfort, and Louis Trichardt.
We will also prioritize Industrial Economic Zone areas and their priorities.
Sign up on https://profilesmes.online/welcome/
To be eligible:
1. You must have a registered business and operate in Limpopo
2. Generate revenue
3. Sectors : Agriculture ( primary and secondary) and Automative
Women and Youth are encouraged to apply even if you don't fall in those sectors.
5 Warning Signs Your BMW's Intelligent Battery Sensor Needs AttentionBertini's German Motors
IBS monitors and manages your BMW’s battery performance. If it malfunctions, you will have to deal with an array of electrical issues in your vehicle. Recognize warning signs like dimming headlights, frequent battery replacements, and electrical malfunctions to address potential IBS issues promptly.
𝘼𝙣𝙩𝙞𝙦𝙪𝙚 𝙋𝙡𝙖𝙨𝙩𝙞𝙘 𝙏𝙧𝙖𝙙𝙚𝙧𝙨 𝙞𝙨 𝙫𝙚𝙧𝙮 𝙛𝙖𝙢𝙤𝙪𝙨 𝙛𝙤𝙧 𝙢𝙖𝙣𝙪𝙛𝙖𝙘𝙩𝙪𝙧𝙞𝙣𝙜 𝙩𝙝𝙚𝙞𝙧 𝙥𝙧𝙤𝙙𝙪𝙘𝙩𝙨. 𝙒𝙚 𝙝𝙖𝙫𝙚 𝙖𝙡𝙡 𝙩𝙝𝙚 𝙥𝙡𝙖𝙨𝙩𝙞𝙘 𝙜𝙧𝙖𝙣𝙪𝙡𝙚𝙨 𝙪𝙨𝙚𝙙 𝙞𝙣 𝙖𝙪𝙩𝙤𝙢𝙤𝙩𝙞𝙫𝙚 𝙖𝙣𝙙 𝙖𝙪𝙩𝙤 𝙥𝙖𝙧𝙩𝙨 𝙖𝙣𝙙 𝙖𝙡𝙡 𝙩𝙝𝙚 𝙛𝙖𝙢𝙤𝙪𝙨 𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙨 𝙗𝙪𝙮 𝙩𝙝𝙚 𝙜𝙧𝙖𝙣𝙪𝙡𝙚𝙨 𝙛𝙧𝙤𝙢 𝙪𝙨.
Over the 10 years, we have gained a strong foothold in the market due to our range's high quality, competitive prices, and time-lined delivery schedules.
Ever been troubled by the blinking sign and didn’t know what to do?
Here’s a handy guide to dashboard symbols so that you’ll never be confused again!
Save them for later and save the trouble!
Symptoms like intermittent starting and key recognition errors signal potential problems with your Mercedes’ EIS. Use diagnostic steps like error code checks and spare key tests. Professional diagnosis and solutions like EIS replacement ensure safe driving. Consult a qualified technician for accurate diagnosis and repair.
Fleet management these days is next to impossible without connected vehicle solutions. Why? Well, fleet trackers and accompanying connected vehicle management solutions tend to offer quite a few hard-to-ignore benefits to fleet managers and businesses alike. Let’s check them out!
What Exactly Is The Common Rail Direct Injection System & How Does It WorkMotor Cars International
Learn about Common Rail Direct Injection (CRDi) - the revolutionary technology that has made diesel engines more efficient. Explore its workings, advantages like enhanced fuel efficiency and increased power output, along with drawbacks such as complexity and higher initial cost. Compare CRDi with traditional diesel engines and discover why it's the preferred choice for modern engines.
In this presentation, we have discussed a very important feature of BMW X5 cars… the Comfort Access. Things that can significantly limit its functionality. And things that you can try to restore the functionality of such a convenient feature of your vehicle.
1. Page 1 of 8
KING IV APPLICATION REGISTER
FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2021
This document sets out the application of the corporate governance principles by Reatile Group (Pty) Limited (“the Group”) as recommended by the King IV Report on Corporate
Governance TM
.
LEADERSHIP
PRINCIPLE 1: The governing body should lead ethically and effectively
The Group’s Board of Directors (the Board) is the governing body and provides effective leadership resulting in the achievement of strategic objectives of the Group by embodying the ethical
characteristics of integrity, competence, responsibility, accountability, fairness and transparency.
The directors hold one another accountable to conduct business, make decisions and discharge their responsibilities, as stipulated in the Memorandum of Incorporation (“MOI”) and Board
Charter, ethically and effectively. The Board exercises control through the governance framework which includes detailed regular reporting to the Board and its Committees. The Group’s
subsidiaries have adopted the Group’s policies specifically with regards to governance, risk, information and technology, compliance and remuneration.
During the year, the Board reviewed and approved the Board Charter which purpose is to provide an overview of the roles, responsibilities, functions and powers of the board, the powers
delegated to the board committees, relevant principles of the Group’s limits and delegations of authority and policies and practices of the board in respect of governance.
ORGANISATIONAL ETHICS
PRINCIPLE 2: The governing body should govern the ethics of the organisation in a way that supports the establishment of an ethical culture
The Board, assisted by the Social & Ethics Committee, is responsible for the governance of ethics in the Group.
The Board approves the codes of conduct and policies that clearly articulates the ethical business conduct required when interacting with identified stakeholders and addressing key ethical
risks in the organisation. Codes of conduct and policies are published internally for all employees and compliance training is provided for risk areas identified.
Management has been delegated the responsibility for implementation and execution of the codes of conduct and policies. The whistle-blower hotline is outsourced and managed externally by
Deloitte & Touché. Access to the whistle-blower hotline is published on the Group and subsidiary websites and is available to all stakeholders to report unethical behaviour anonymously without
the fear of victimisation. In addition, management of subsidiaries are invited to the Social & Ethics Committee to raise, detect and resolve ethical breaches.
2. Page 2 of 8
KING IV APPLICATION REGISTER
FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2021
RESPONSIBLE CORPORATE CITIZENSHIP
PRINCIPLE 3: The governing body should ensure that the organisation is and is seen to be a responsible corporate citizen
The Board, assisted by the Social & Ethics Committee, is responsible for the governance and activities relating to demonstrating that the Group is a good corporate citizen and includes
compliance with the Constitution of South Africa, the laws and legislation, standards and Group specific codes of conduct and policies.
The Board approves Group policies and monitors performance against measures and targets in areas of:
• Workplace (including employment equity, remuneration, health, safety and development of employees).
• Economy (including transformation and prevention, detection and response to fraud and corruption).
• Society (consumer protection, community development, protection of human rights); and
• Environment (including responsibility in respect of pollution, waste disposal and environmental affairs).
STRATEGY AND PERFORMANCE
PRINCIPLE 4: The governing body should appreciate that the organisation’s core purpose, its risks and opportunities, strategy, business model, performance and sustainable
development are all inseparable elements of the value.
The Board is responsible for organisational performance and sets the direction for realisation of the Group’s purpose and values through its strategy.
Management has been delegated the responsibility to formulate and develop the organisational short, medium- and long-term strategy considering associated risks and opportunities, which is
approved and monitored by the Board against key performance measures and targets regularly. As part of this oversight of performance, the Board continually monitors the general viability of
the Group with regards to its reliance on capital, its solvency and liquidity and its status as a going concern.
The Board, assisted by the Investment Committee, if applicable, will approve any acquisitions, investments or disposals in terms of the approved investment criteria matrix in terms of the
delegation of authorities’ matrix.
REPORTING
PRINCIPLE 5: The governing body should ensure that reports issued by the organisation enable stakeholders to make informed assessments of the organisation’s performance,
and its short, medium and long-term prospects.
The Board, assisted by the Finance & Risk Committee, ensures the necessary controls are in place to verify the integrity of the annual financial statements and other disclosures and reports.
The Group complies with all required disclosures. The audit plan and materiality is reviewed by the Finance & Risk Committee and recommended for approval by the Board to ensure compliance
with standards, legislative and regulatory requirements.
PRIMARY ROLE AND RESPONSIBILITIES OF THE GOVERNING BODY
3. Page 3 of 8
KING IV APPLICATION REGISTER
FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2021
PRINCIPLE 6: The governing body should serve as the focal point and custodian of corporate governance in the organisation
The Board steers the Group and sets its strategic direction through approving strategy and policies, monitoring the implementation and execution by management and ensuring accountability
for performance by means of regular transparent reporting and disclosures.
The Boards role, responsibilities, composition requirements and procedural conduct is stipulated in the MOI and is regularly reviewed to assess its effective functioning.
Every two years, the Group appoints Rödl & Partner Inc. to conduct a statutory health check review to assess the Board’s fulfilment of its responsibilities in terms of legislation, regulations and
the policies and practices stipulated in the MOI and Committee Terms of References. The last review was conducted during the 2020 financial year and found it compliant and satisfactory.
The next statutory health check review is scheduled to take place during the 2022 financial year.
In terms of the Board Charter, a formal internal assessment of the Board, the individual Board members and the Board sub-committees is required every two years. During the 2021 financial
year, the Board assessment was conducted successfully and resulted in a high overall score, with minor improvements identified. The next Board assessment is scheduled to take place in
2023.
COMPOSITION OF THE GOVERNING BODY
PRINCIPLE 7: The governing body should compromise the appropriate balance of knowledge, skills, experience, diversity and independence for it to discharge its governance
role and responsibilities objectively and effectively.
The Board is satisfied that the current composition of the Board, taking into account the size of the Group, is the optimal mix of diversity, knowledge, skills, experience, independence, the
requirements in numbers for its committees, quorum requirements and regulatory requirements. During the 2021 financial year, the Board appointed a Chief Executive Officer which, together
with the Executive Chairman, ensures the Board composition now includes two executive appointments to ensure the Board has more than one point of direct interaction with management.
The role of the Chief Executive Officer and Chairman are separate. 60% of the Board members are non-executive Directors, of which 67% are independent. 40% of the Board is black, and
40% of the Board are female. The Board is satisfied that the balance of power and objectivity of the Board is sufficient.
The nomination, election and appointment of board members are governed by the policies and practices stipulated in the MOI and the Board Charter, which is a formal and transparent process.
Board members are re-elected at each AGM.
Subject to legal provisions, Board members’ declarations of interests are tabled at every Board meeting and are formally updated when a change occurs. At the beginning of meeting of the
Board and its committees, all members are required to declare whether any of them has any conflict of interest in respect of a matter on the agenda. Any such conflicts are proactively managed
as determined by the Board and subject to legal provisions.
The Chairman of the Board is elected in terms of the policies and practices as stipulated in the MOI and the Board Charter. The roles and responsibilities of the Chair is also documented in the
MOI and Board Charter. The Chairman of the Board is not a member of the Finance & Risk Committee. The Chairman of the Board is a member but not the Chair of the Social & Ethics
Committee and the Remuneration Committee.
COMMITTEES OF THE GOVERNING BODY
PRINCIPLE 8: The governing body should ensure that its arrangements for delegation within its own structure promote independent judgement, and assist with balance of power
and the effective discharge of its duties
4. Page 4 of 8
KING IV APPLICATION REGISTER
FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2021
The Board established several committees to assist in discharging its responsibilities as stipulated in the Companies Act, the MOI and the Board Charter. Each committee has a formal terms
of reference, approved by the Board, recording the responsibilities delegated to it. Details of the members of the committees are published on the Group’s website. During the 2019 financial
year, the FRC and SEC internally reviewed the performance of the committees and its members against the respective terms of reference and legislative requirements and is compliant and
satisfactory.
The Finance & Risk Committee (“FRC”) primarily provide independent oversight of the assurance functions and on the integrity of the annual financial statements and other external reports
as delegated by the Group. In addition, the FRC is responsible for establishing the IT governance framework and risk management framework for the Group, to mitigate risks. The FRC
members are non-executive directors and observers of the Board, with the Chief Executive Officer and Chief Financial Officer attending as invitees.
The Remuneration Committee (“RC”) is responsible for oversight of remuneration, the governance and implementation of the remuneration policies of the Chairman and non-executive
directors. The RC members and the RC Chairman are independent non-executive directors, with the Executive Chairman and Chief Executive Officer of the Group attending as invitees..
The Social & Ethics Committee (“SEC”) has been established to carry out its statutory duties as well as the remuneration governance relating to executives and general staff. The Chairman
of the SEC is a non-executive director of a wholly owned subsidiary Board. The other members of the SEC comprise of one non-executive director of the Board, one executive director of the
Board and one executive of the Group, with the Chief Executive Officer, Chief Financial Officer of the Group and the Managing Directors of all wholly-owned subsidiaries attending as invitees
The Investment Committee (“IC”) is only established as and when the Board collectively agrees the need for such a committee in terms of the MOI. During the 2021 financial year, all
investment and acquisitions pursued were approved by the Board directly in terms of the investment criteria matrix.
Each Subsidiary Board is required to establish an Executive Committee (“EXCO”) which is the management team to which the Group Board delegate responsibilities to in terms of performance,
governance and policies.
EVALUATION OF THE PERFORMANCE OF THE GOVERNING BODY
PRINCIPLE 9: The governance body should ensure that the evaluation of its own performance and that of its committees, its chair and its individual members, support continued
improvement in its performance and effectiveness.
5. Page 5 of 8
KING IV APPLICATION REGISTER
FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2021
The Board conducts an evaluation process on its effectiveness, the Chairman, its committees and individual directors at least every two years.
In terms of the Board Charter, a formal internal assessment of the Board, the individual Board members and the Board sub-committees tis required every two years. During the 2021 financial
year, the Board assessment was conducted successfully and resulted in a high overall score, with minor improvements identified. The next Board assessment is scheduled to take place in
2023.
APPOINTMENT AND DELEGATION TO MANAGEMENT
PRINCIPLE 10: The governing body should ensure that the appointment of, and delegation to, management contribute role clarity and effective exercise of authority and
responsibilities.
The Board appointed a Chief Executive Officer during the 2021 financial year end. The Chief Executive Officer is accountable, and report to the Board. The Chief Executive Officer is not a
member of the Remuneration Committee, Finance & Risk Committee or Social & Ethics Committee, but attend by invitation.
During the 2021 financial year, the Board approved the succession plan for the Chairman and the monitoring is ongoing. The succession plan for the newly appointed CEO will be concluded
during the 2021 financial year.
The Board has approved and implemented a Delegation of Authority matrix, which details the powers and matters for itself and those to be delegated to management. The Board ensures that
key management functions are led by a competent and appropriately authorised individuals and are adequately resourced.
The Board agreed for Rödl & Partner Inc. to continue in their role as professional corporate governance service providers. The Board further believes the arrangement with Rödl & Partner Inc.
is still effective in upholding the governance of the Group.
RISK GOVERNANCE
PRINCIPLE 11: The governing body should govern risk in a way that supports the organisation in setting and achieving its strategic objectives
6. Page 6 of 8
KING IV APPLICATION REGISTER
FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2021
The Board, with the assistance of the Finance & Risk Committee, is responsible for the governance of risk and sets direction for how risks are approached and addressed in the Group
considering opportunities and associated strategic risks.
The Board delegated to management the responsibility to implement and execute effective risk management. During the 2021 financial year, the Board, assisted by the Finance & Risk
Committee, regularly reviewed the risk register in terms of the approved formalised Risk Governance Framework to affectively mitigate and manage risks. The Risk Governance Framework
was also reviewed and approved by the Board, with the next scheduled review planned for 2023.
TECHNOLOGY AND INFORMATION GOVERNANCE
PRINCIPLE 12: The governing body should govern technology and information in a way that supports the organisation setting and achieving its strategic objectives
The Board, together with the Finance & Risk Committee, is responsible for the governance of IT by setting the direction of how technology and information is approached and addressed in the
Group considering:
• Integration of all IT resources across the Group.
• Management of the performance and risks pertaining to outsourced service providers.
• Assessment of the value delivered to the Group through significant investment in IT, including significant operational expenditure and ad hoc IT projects.
• Ethical and responsible use of technology and information.
• The protection of privacy of personal information.
• The continual monitoring of security of information.
• The technology architecture that enables the achievement of strategic and operational objectives.
The Board reviewed and approved the formalised IT Governance Framework during the 2021 financial year, and the next scheduled review is planned for 2023. The Board delegated to
management the responsibility to implement and execute effective IT management.
COMPLIANCE GOVERNANCE
PRINCIPLE 13: The governing body should govern compliance with applicable laws and adopted, non-binding rules, codes and standards in a way that it supports the organisation
being ethical and a good corporate citizen
The Board, with the assistance of the Finance & Risk Committee and the Social & Ethics Committee, ensures that the Group complies with applicable laws and adopted, non-binding rules,
codes and standards. The Social & Ethics Committee implemented a legislation compliance matrix to ensure compliance.
The Board delegated to management the responsibility to implement and execute effective compliance management.
During 2021, there were no material penalties or fines for contravention of or non-compliance with statutory and regulatory obligations.
7. Page 7 of 8
KING IV APPLICATION REGISTER
FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2021
REMUNERATION GOVERNANCE
PRINCIPLE 14: The governing body should ensure that the organisation remunerates fairly, responsibly and transparently so as to promote the achievement of strategic objectives
and positive outcomes in short-, medium-, and long-term.
The Board, assisted by the Social & Ethics Committee and the Remuneration Committee, is responsible the governance of remuneration on a Group-wide basis.
The Board, assisted by the Social & Ethics Committee, ensures approved policies relating to remuneration are designed to attract and retain human capital, promote the achievement of strategic
objectives, positive outcomes, an ethical culture and responsible corporate citizenship.
The Board delegated to the Committees the responsibility to implement and execute remuneration policies to achieve the objectives of the Group.
ASSURANCE
PRINCIPLE 15: The governing body should ensure that assurance services and functions enable an effective control environment, and that these support the integrity of
information for internal decision-making and of the organisation’s external reports.
The Board, assisted by the Finance & Risk Committee, is responsible for assurance by:
• Enabling an effective internal control environment;
• Supporting the integrity of internal and external reports and information used for decision making;
• Selection, management and monitoring of service providers such as external auditors, internal auditors, specialists, etc.
The committees and the Board receive regular reports and updates from the external audit engagement partner, the Chief Executive Officer, the Chief Financial Officer, in respect of the issues
as set out above.
STAKEHOLDERS
PRINCIPLE 16: In the execution of its governance roles and responsibilities, the governing body should adopt a stakeholder-inclusive approach that balances the needs, interests
and expectations of material stakeholders in the best interest of the organisation over time.
The Board, assisted by the Social & Ethics Committee, is responsible for the governance of stakeholder relationships by:
• Clearly articulating stakeholder conduct in relevant Group policies;
• Exercising ongoing oversight of stakeholders in terms of identification, materiality, risks, engagement and communication and quality of relationships including Shareholder relationships;
• Setting direction for how the relationships and exercise of power within the Group is conducted and policies are adopted.
During the 2021 financial year, the Board reviewed the Stakeholder Governance Framework as recommended by the Social & Ethics Committee, and continues to regularly review the stakeholder
matrix, with the next review scheduled for 2023.
8. Page 8 of 8
KING IV APPLICATION REGISTER
FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2021
RESPONSIBILITIES OF INSTITUTIONAL INVESTORS
PRINCIPLE 17: The governing body of an institutional investor organisation should ensure that responsible investment is practiced by the organisation to promote the good
governance and the creation of value by the companies in which it invests
Not applicable, the Group is not an institutional investor.
REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS OF REATILE GROUP (PTY) LIMITED ON THE 4TH
MARCH 2021