Grade 10- King code

Question 1

What is the King Code?

Answer 1

A set of guidelines for ethical governance structures in business. It is used to guide the activities of a business.

Question 2

What is the purpose of King Code 1?

Answer 2

Stresses the importance of responsible corporate behaviour

Question 3

What is the purpose of King Code 2?

Answer 3

Gives guidance for corporate management principles

Question 4

What is the purpose of King Code 3?

Answer 4

Sets out the principles relating to integrated reporting

Question 5

What is the purpose of King Code 4?

Answer 5

Focuses on mindful application of the code

Question 6

What are the main principles of the king code?

Answer 6

1. Transparency: open and honest
2. Responsibility: acknowledging mistakes and apologising
3. Accountability: owning up to mistakes and compensating
4. Fairness: equal to all