King Code and Report on Corporate Governance, 1994, 2002 and 2010

South Africa Current 2010

The Institute of Directors in Southern Africa (IoDSA) introduced the King Code of Governance Principles and the King Report on Governance. It is a non-legislated code on good corporate governance, the definitive document for corporate governance in South Africa. Its third version (King III) reflects changes focused on requiring business to integrate the management of financial and non-financial issues (risk management and audit). King III requires integrated sustainability reporting and third party assurance. It applies to all South African companies and is a listing requirement for the Johannesburg Stock Exchange. It expects entities to follow an integrated reporting format, which means describing financial, social and environmental factors in a holistic manner within the report. A company’s “material matters”, including sustainability risks, should be disclosed in a timely manner. There is a strong focus on responsible corporate citizenship in the King Code. In South Africa this implies, among others, issues related to transformation, human rights, human capital, social capital, safety and health. King IV will be launched in November 2016.


Environmental & Social & Governance

Industry sectors covered by the instrument

All/none specified

Organizations covered by the instrument

All organizations except those in the public sector

Issuer type

Institute of Directors in Southern Africa (IoDSA)

Type of instrument

Code of conduct or guideline

Mandatory or voluntary


The geographical scope


Project Partners