Foundation principals of the King Report
• To assist companies by providing principles to expand the common law principles.
• Made to emphasis good business practice
King Code 2
• Review and expansion of the King Code 1 principles
King Code 3
• The same as previous codes
• But there is more emphasis on the principles
Benefits of Good Corporate Governance
• Minimizes wastages, corruption, risks and mismanagement.
• Helps with the company's brand formation and development.
• Provides proper incentives.
• Positive impact on the share price and SRI rating.
• Lowering capital acquisition costs.
• Economic growth.
Triple Bottom Line Reporting
• Incorporates three dimensions of performance social, environmental and financial which is normally referred to as the 3Ps which are People, Planet and Profits.
• People - They are fair and favorable business practices regarding the community in which the company conducts its business
• Profit - Economic value created by company, economic benefit
• Planet - The use of sustainable environmental practices and the environment impact