Theory and important concepts

KING III Report - 2009

• A set of guidelines and principles designed to promote corporate governance, accountability, transparency, and ethical business practices.

• The ability to be proficient in your work by having the

  necessary knowledge, experience, and qualifications.

• Means that all statements and information are correct

  and reliable, and that no recommendations or changes

  are made

• Apply AND explain.

• Impact of decision making on people, the environment,

  and the profit of the business.

Internal audit ...

• The ability to be proficient in your work by having the

  necessary knowledge, experience, and qualifications.

• Means that all statements and information are correct

  and reliable, and that no recommendations or changes

  are made

• Monitor whether the control measures that were

  introduced comply with certain requirements to ensure

  that the goals will be attained, if implemented correctly

• Refers to the correct way of doing business.

Business ethics

• Recommendations for changes with regard to the

  statements since everything is not correct and reliable.

• Refers to the correct way of doing business.

• Entails daily control over implementation of control

  measures introduced.

• No employee should act in such a manner that it would

  have a negative impact on the image of his profession or

  employer.

Qualified audit report

• No employee should act in such a manner that it would

  have a negative impact on the image of his profession or

  employer.

• Monitor whether the control measures that were

  introduced comply with certain requirements to ensure

  that the goals will be attained, if implemented correctly

• Entails daily control over implementation of control

  measures introduced.

• Recommendations for changes with regard to the

  statements since everything is not correct and reliable.

“Triple bottom line”

• Refers to the correct way of doing business.

• 
  

  Impact of decision making on people, the environment,

  and the profit of the business.

  
  

• Monitor whether the control measures that were

  introduced comply with certain requirements to ensure

  that the goals will be attained, if implemented correctly

• Entails daily control over implementation of control

  measures introduced.

Internal control

• Means that all statements and information are correct

  and reliable, and that no recommendations or changes

  are made

• Monitor whether the control measures that were

  introduced comply with certain requirements to ensure

  that the goals will be attained, if implemented correctly

• Recommendations for changes with regard to the

  statements since everything is not correct and reliable.

• Entails daily control over implementation of control measures introduced.

Professional competence

• The ability to be proficient in your work by having the

  necessary knowledge, experience, and qualifications.

• Monitor whether the control measures that were

  introduced comply with certain requirements to ensure

  that the goals will be attained, if implemented correctly

• No employee should act in such a manner that it would

  have a negative impact on the image of his profession or

  employer.

• Entails daily control over implementation of control

  measures introduced.

Unqualified audit report

• Impact of decision making on people, the environment, and the profit of the business.

• Means that all statements and information are correct

  and reliable, and that no recommendations or changes

  are made.

• Recommendations for changes with regard to the

  statements since everything is not correct and reliable.

• No employee should act in such a manner that it would

  have a negative impact on the image of his profession or

  employer.

Professional behaviour

• Means that all statements and information are correct

  and reliable, and that no recommendations or changes

  are made.

• The ability to be proficient in your work by having the

  necessary knowledge, experience, and qualifications.

• Monitor whether the control measures that were

  introduced comply with certain requirements to ensure

  that the goals will be attained, if implemented correctly.

• No employee should act in such a manner that it would

  have a negative impact on the image of his profession or

  employer.

KING IV – report of 2017

• Recommendations for changes with regard to the

  statements since everything is not correct and reliable.

• Designed to guide organizations on how to achieve sustainable success while promoting responsible business practices.

• Monitor whether the control measures that were

  introduced comply with certain requirements to ensure.

  that the goals will be attained, if implemented correctly.

• Means that all statements and information are correct

  and reliable, and that no recommendations or changes

  are made.