At ORCA, we have experienced assessors and reviewers to offer clients – in the private, public and non-profit sectors alike – a comprehensive corporate governance review against the King III Report on Corporate Governance or any other specific Corporate Governance requirement.
Whilst most organisations have been quick to respond to the requirements of King III which focused on the broader corporate governance framework, our experience has identified a key weakness in the misalignment of the corporate governance framework to the broader business governance framework.
For instance, we believe true independence within an audit committee is vital to effective corporate governance. It can be a critical ingredient in the performance of quality reporting and controls, as well as in the proper identification and management of risks.
There are many such triggers that identify whether an organisation requires our services. When engaging with us, clients will gain an opinion on the adequacy and effectiveness of their corporate governance practices, as well as suggestions for improvement where weaknesses have been identified. We utilise a customised Corporate Governance Assessment tool-kit to measure the extent of the organisation’s compliance with King III. We have access to corporate governance global best practices against which to benchmark the organisation’s current governance practices.
If any of the following apply to an organisation, they may need our advice:
- Companies that do not have governance, risk or compliance frameworks in place
- Start-up organisations that require assistance with the establishment of governance structures and processes
- Adverse events or negative publicity detrimental to the company’s public image and investor confidence
- A JSE-listed company which is subject to greater corporate governance requirements
- Executive management is aware of poor corporate governance procedures
- Appointment of directors or entire new Boards with little or no director experience, requiring induction training.
Our experienced assessors will perform a review of a client’s organisational needs and recommend any of the following:
- Corporate governance audits
- Governance transformation roadmaps
- Global corporate governance leading practice benchmarks and health checks
- Business governance frameworks and models
- King III maturity assessments
- Assessment and guidance on Board of Directors, structures, composition and membership,
- responsibilities and processes
- The composition, role and responsibilities of Board committees
- The role of the Chairperson versus the Chief Executive Officer (CEO)
- Effectiveness of the Board of Directors
- Board performance evaluation procedures
- Director induction and continuing development workshops
- Board succession planning
- Development and use of authority frameworks
- Development of ethics/code of conduct
- Ethics assessments
- Shareowner and stakeholder communication including the disclosure of the above in the integrated report
- Education and workshops on corporate governance
- IT Governance consulting and training
- Combined assurance models
- Letters of appointment for the Chairperson, CEO, CFO and non-executive directors
- Effectiveness of the Company Secretariat function
- Hold effective Board and committee meetings