Page 6 - PowerPoint Presentation
P. 6
INTEGRATED REPORTING
Outcomes
• Integrated reporting was introduced into corporate governance in
South Africa by King III and has been adopted widely, both locally
and internationally. King III defines integrated reporting as “a
holistic and integrated representation of the company’s
performance in terms of both its finances and its sustainability”.
• King III replaced the “triple bottom-line” (and its depiction of the
three separate bottom lines consisting of the economy, society and
environment) with the intertwined economic, social and
environmental ‘triple context’.
• The significance of the change was that King III indicated that these
aspects were intertwined. Accordingly, King IV Code stated in
Principle 2.1 that: “The governing body should lead the value
creation process by appreciating that strategy, risk and opportunity,
performance and sustainability development are inseparable
elements”.
• Please refer to the SAICA Examinable Pronouncements and note the
level of knowledge required for each section of King IV that is
examinable in the 2018 ITC.
6
