Should Europe rethink its governance approach in line with the King IV Report? Is this the “New Grail” in Corporate Governance?
An ecoDa/PwC Joint conference
The King IV report on corporate governance, issued in South Africa one year ago, is internationally recognized as innovative, mainly due to its ‘tone’ and the fundamental issues tackled.
The King IV report on corporate governance integrates three shifts in the corporate world:
• from financial capitalism to inclusive capitalism – financial performance alone can no longer serve as proxy for holistic value creation;
• from short-term capital markets to long-term sustainable capital markets;
• from siloed reporting to integrated reporting (EGS reporting). Integrated thinking and the recognition that the organisation is an integral part of society is key.
It promotes new and interesting concepts:
• It applies a principle-and-outcomes based approach, and moves away form a box-ticking approach;
• The approach of “comply or explain is replaced by “apply and explain” – the application of all the principles is assumed and companies should explain the practices that have been implemented to reach the desired outcome of each principle;
• The Code is designed to be universally applicable, both for private and public entities, large and small, for-profit or not-for profit organizations
Will Corporate Governance in the EU improve if these new ideas are applied? What will be the consequences in terms of the accountability of boards, the monitoring and risk reporting?
The panelists will question the new ideology and discuss:
1. Whether the new model should be applied as is to European listed companies?
2. Whether the King IV Report can help in stimulating the growth of more innovative companies in Europe?
The panelists will include people from the European Commission, the OECD, and board members.
A video message from Mervyn King will start the debate.
TO REGISTER: send an email to secretariat@ecoDa.org