Loading Events

« All Events

  • This event has passed.

Info Sharing Session: The Journey From King I to King IV

23 February, 2017
8:00 am - 10:00 am


23 February, 2017 @ 8:00 am - 10:00 am

BarnOwl Info Sharing session: 23 February 2017

The journey from King I to King IV: Why King IV is not another layer of regulation but creates add-on value. (King IV is copyrighted to The Institute of Directors Southern Africa).

Presented by Michael Judin, partner in the Johannesburg based law firm, JUDIN COMBRINCK INC

Michael Judin Info image

We were delighted to have Michael Judin present to us on the 23 February 2017 at our info sharing breakfast at the Bryanston Country Club. The event was extremely well attended with over 150 people attending, thanks to Michael being a most entertaining and informative presenter speaking on a very topical subject.

With organisations feeling the strain of operating in an increasingly complex regulatory environment together with a challenging economy, it was most refreshing and an eye-opener to hear Michael explain that the King code is far from just another layer of regulation. In fact, it is a code that makes navigating legislation and statute law easier. With the advent of the new company’s act (2008) with its far reaching and draconian consequences relating to duties and liabilities of directors (extended to prescribed officers (e.g. company secretaries, committee members.)), King III was developed as a voluntary common law code to help take directors down a journey of good governance. As Michael mentioned, we may have had a national retirement day for all directors and prescribed officers! ‘Comply or else’ was not always good governance.

20170223_083603  20170223_090005

So from the early days when Nelson Mandela tasked Mervyn King to come up with a corporate governance code, the King code has come a very long way and has evolved from ‘Comply or Else’ (King II) to ‘Apply or Explain’ (King III) and now ‘Apply and Explain’ (King IV). King IV has been further simplified and compresses the 75 principles of King III into 16 principles plus one for financial services with recommendations on how to apply the principles to achieve the outcomes. The definition of corporate governance for the purposes of King IV, is defined as the exercise of ethical and effective leadership by the governing body towards the achievement of the following governance outcomes: Ethical culture, Good performance, Effective control and Legitimacy.

Another point that struck me is how forward thinking King IV is and how it appeals to millennials who are far more conscious about ‘People, Planet and Profit’. Today’s executives and boards are generally from the baby boomer generation and see governance as a ‘tick box regulation thing’ and just something they have to do. Michael spoke about our misconception that the power is in the board room. The power really lies with the new millennials and the power of social media and the smart phone. Millennials don’t believe a thing you say. You have to demonstrate the outcomes. People who understand King embrace it. It is not about ticking the boxes to comply. As Michael mentioned Millennials don’t trust anyone or anything and want to see proof of outcomes rather than a tick box of principles.


What I also found enlightening, was Michael saying that out of the 6 capitals (Financial, Manufactured, Intellectual, Human, Social and Relationship, Natural), the easiest one to come by is the ‘financial’ capital. Investors will always find money for companies they trust and believe are well governed and sustainable. Harvard university commented that the King code appeals to a way of life rather than just a way of doing business. This is far reaching considering that our customers are millennials who don’t believe a thing you say and need to see the outcomes to believe, need instant gratification and need to see information presented on one page.

Three things have happened with the application of the King code and its principles:

1. As a standard now, well-crafted commercial agreements are all King compliant and embrace corporate governance and due diligence. I.e. The King code is common place in contract law.

2. King is now part of South African common law. King does not need to be part of statute law. Millennials will ensure that it works: ‘We distrust you, we want to see the results of the principles applied, show us the outcome. No more tick boxes. It’s simple; if you don’t comply with good corporate governance, we just won’t buy your product’. King is not another layer of regulation. Nestle found this out the hard way with their destruction of palm trees in Malaysia which happened to be the chimpanzee’s natural habitat. A few youngsters took to social media showing blood dripping out of a KitKat. Do not buy KitKat. Days later Malaysia’s palm trees were being restored for the chimpanzees. Social media operates in nano seconds. Outcomes support integrated reporting which is integrated with people’s future. Governance supported by King IV is an aspirational code.

3. The business judgment rule became part of our DNA to help honest people (Directors and prescribed officers) who may make an honest mistake. Michael mentioned three salient points regarding business judgment: 1. If you are conflicted you don’t decide whether you are conflicted, the other party decides. 2. We live in a knowledge world; you cannot act if you are not properly informed; you need to stress test and check your info. You need to know enough and question with an understanding mind. How did you come to your decision? If you don’t know say so. Be true to yourself, I don’t know, be honest, go and learn. 3. Need to operate in the best interests of the organisation (a lawful organisation).

Ignoring these principles is demonstrated by the Australian Centro case where the board approved the financial results erroneously which resulted in liquidation, class action and the directors losing everything. Directors were questioned on ‘why are you on the board, you said you approved the financial accounts which means that you must be knowledgeable. You said yes because ‘John’ who is the expert said that the accounts were correct and so you said yes too. You lied to the world.’

In summary a few points worth noting about the King code:

  • It’s not just another layer of regulation but a real value add. It’s here to help us
  • The King code appeals to a way of life rather than just a way of doing business; Governance supported by King IV is an aspirational code
  • People who understand King embrace it
  • Don’t ignore the millennials; understand the value of the 3 Ps (People, Planet and Profit)
  • It’s not only about risk but also the opportunity within the risk
  • Corruption is at a tipping point
  • It’s you (your business) versus the people
  • Appreciating the value of information and technology; business disrupters; artificial intelligence, millennial thinking.

Mervyn King, his committee and the Institute of Directors Southern African needs to be applauded for putting South African firmly on the map as a leader in corporate governance which can only be a positive thing for all of us living in South Africa.

For more information on the salient points of King IV you can see: https://barnowl.co.za/insights/king-iv-report-risk-compliance-and-assurance/

Written by: Jonathan Crisp

Director – BarnOwl GRC and Audit software

About Michael Judin:

Michael Judin obtained his law degree at the University of the Witwatersrand and commenced practice in Johannesburg at the end of 1969. He is currently a partner in the Johannesburg based law firm, JUDIN COMBRINCK INC.

Michael is a member of the King Committee and was also the convenor of the Sub-Committee which wrote the Chapter dealing with negotiation, mediation and arbitration as contained in King III, South Africa’s Corporate Governance Report and Code; and

He is also a member of the King Committee Task Team established for the review and rewrite of the King III Corporate Governance Report and Code known as King IV.

About BarnOwl:

BarnOwl is a fully integrated governance, risk management, compliance and audit software solution used by over 200 organisations in Africa, Europe and the UK. BarnOwl supports best practice risk management, compliance and audit frameworks (e.g. COSO, ISO31000, Compliance Institute’s handbook, International Professional Practice Framework), whilst offering a highly flexible and configurable parameter-driven system allowing you to configure BarnOwl to meet your specific requirements.

Subscribe to BarnOwl's Information Portal

Subscribe to BarnOwl’s information portal today and receive our monthly newsletter with the latest GRC and audit insights, industry updates, priority access to exclusive events, tip of the month and more straight to your inbox!


GRCReady is the official provider of risk management content for the BarnOwl GRC software solution. GRCReady provides extensive risk libraries and risk maturity checklists/surveys which are integrated with BarnOwl.

GRCReady, based in Australia, offers a comprehensive and holistic library of products and associated services including templates, policies, procedures, guidelines, checklists etc.t to help owners and directors of SMEs, startups and corporates to satisfy their corporate governance, risk management and regulatory compliance needs.

By integrating GRCReady's rich content libraries into BarnOwl's GRC software, we are able to offer our clients a state of the art, turnkey GRC solution.

GRCReady provides, arguably, the most comprehensive risk and governance maturity assessment framework with detailed steps and artefacts. BarnOwl's survey and action plan portal provides a simple and effective way to monitor and report on your current state of risk maturity and suggest and drive remedial action plans to take you to your desired state of risk and governance and maturity.

By integrating GRCReady's risk libraries with the BarnOwl GRC software, means that you don't have to start from scratch. In addition, ongoing updates and insights keep you informed and up-to-date on best practices.



Season Rhyrhm is BarnOwl's preferred partner in Botswana assisting with BarnOwl implementations, support services and client relationship management.

Season Rhythm is an established and distinguished player in the ICT sector in Botswana, specialising in a range of cutting-edge solutions. Season Rhythm leverages BarnOwl to provide tailored GRC&A services to businesses in Botswana facilitating:

  • Governance: Enabling organisations to establish and uphold effective governance structures, ensuring transparency and accountability in decision making processes.
  • Risk Management: Equipping businesses with tools to identify, assess and mitigate risks, safeguarding against potential threats and ensuring continuity in a business environment.
  • Compliance: Ensuring adherence to regulatory frameworks and industry standards, protecting businesses from non-compliance penalties and fostering trust among stakeholders.
  • Audit: Streamling the audit process with comprehensive tools for planning, execution and reporting, driving efficiency and accuracy in internal audit and compliance assessments.
  • www.sr.co.bw/ict


BarnOwl works closely with NSA in the field of GRC and assurance.

NSA is an education and risk & assurance advisory services provider, consisting of a team of professional consultants and facilitators who have been hand-picked on experience and expertise. NSA services include:

  • Strategic intervention: 30 expert consultants facilitating strategic planning, combined assurance, effective governance and risk management assignments.
  • Continuous professional development: CPD training for internal auditors, external auditors, accountants, risk managers, government officials, and psychologists.
  • Online learning: accredited training for the local government sector, including the Municipal Financial Management Program and Supply Chain Management.
  • Online skills development: skills in demand for 2030, including cybersecurity, Protection of Personal Information, Artificial Intelligence, Robotics and programming.

BarnOwl and NSA work closely with our clients to align and enable best practice GRC and assurance framework & methodologies within BarnOwl. NSA regularly presents online information sharing sessions together with BarOwl.



Nico Technologies is BarnOwl's preferred partner in Malawi assisting with BarnOwl implementations, support services and client relationship management.

Nico Technologies Limited is an established IT products and services provider in Malawi, specialising in managed IT services, IT infrastructure services, IT project management, digital solutions, digital transformation and IT advisory.

Nico Technologies uses BarnOwl extensively within their own organisation to automate and manage their own risk and compliance functions.



Morgan Solus is BarnOwl's preferred business continuity specialist consulting firm with its 'BCM toolkit' software. BarnOwl GRC together with the BCM toolkit, provides a comprehensive risk management and BCM software solution.

Morgan Solus is a specialist consultancy firm focusing on risk, resilience and continuity. Morgan Solus's core services are centred on resilience, crisis management, business continuity (BCM), IT services continuity and disaster recovery (DRP) and training.

The BCM toolkit ensures a consistent approach to implementing BCM and IT disaster recover and cuts down implementation timelines by 60% whilst driving up successful outcomes.

BarnOwl's extensive GRC and assurance functionally coupled with Morgan Solus's BCM toolkit provide the ultimate risk management and BCM software solution.



Arbutus Analytics is Barnowl's preferred data analytics software. BarnOwl GRC integrated with Arbutus Analytics, provides the ultimate in continuous risk monitoring.

Arbutus Analyzer is a powerful data access and analysis solution specifically developed for auditors, business analysts, and fraud investigators. Its robust performance and user-friendly features offer you the ability to access and analyse data quickly and simply.

BarnOwl GRC, integrated with the real-time metrics from Arbutus provides a strategic early warning system driving preventative and predictive capability facilitating effective business decision making business improvement.

www.arbutussoftware.com with local sub-sahara African distributor www.betasoftware.co.za


Barnowl works closely with Pax Resilience in the field of GRC and sustainability.

Pax Resilience offers solutions in risk, resilience and cyber security. Pax Resilience strive to create peace of mind by assisting you to build the resilience in your organisation so essential to survive and thrive in the volatile, uncertain, complex and ambiguous world we live in.

Pax Resilience regularly presents online information sharing sessions together with Barnowl.



Paige Law is the official provider of compliance content for the Barnowl GRC software solution. Paige Law provides an extensive Library of South African acts including provisions [CRMPs] and checklists which are integrated with Barnowl.

Paige Law specialises in compliance, Commercial Law, Legal process consultancy, managed legal services and POPIA/ GDPR.


Registered Address

75 Malibongwe Drive
Linden Ext
South Africa

Postal Address

PO BOX 3009


+27 (0) 11 540 9100


More Information: info@barnowl.co.za
Product Support: support@barnowl.co.za

Let Us Contact You
Let Us Contact You
I grant BarnOwl permission to contact me for marketing purposes*
*You will receive BarnOwl monthly newsletters & invitations to online events. You can unsubscribe at any time.


If you need assistance with your BarnOwl software, there are three channels available to you:



You will be emailed a ticket number from our issue tracking system and your request will be managed in
this ticket until it is completed.


You can view all your existing tickets or create new ones.


+27 (0) 11 540 9112
to speak to a support consultant

Let Support Contact You
Let Support Contact You