The highly informative first KZN Top Business Masterclass was held on the 8 March 2022

The topic was corporate governance, and the speakers were Cathie Lewis and Clifford Zungu. The session was ably facilitated by David White

Drawing on her experience and understanding Cathie provided much insight into corporate governance using King IV as a starting point.

The goals of the governing body should be aligned towards achieving the following four governance outcomes:

· Ethical culture

· Good performance

· Effective control

· Legitimacy

Of importance is understanding how we achieve these outcomes in an imperfect world. Cathie stressed we need leadership, communication between all stakeholders, knowledge of all the dynamics in play and an application of the appropriate legislation. Of significance she emphasised the importance of the organisation’s or company’s role in meeting societal needs first.

Clifford emphasised the importance of communication in an organisation both from a top down and bottom up perspective. This ensures that all employees may be heard as well as have a role in articulating the values of a company and ensuring that its outcomes are realised.

David stressed the importance of the strong leadership required to ensure that the framework of the King IV Code is applied. To reach the four governance outcomes, governing bodies are required to apply the 17 principles within the Code in a holistic manner.

Contact:

David White david@drg.co.za

Grant Adlam adlam@icon.co.za