If King IV™ required a one-word synopsis, ‘transparency’ would be the best word to describe it. The predecessors of King IV™ created the foundation of complete corporate governance being a vital component of good corporate citizenship. The idea of good corporate governance stems from the recognition that organisations form an integral part of society, therefore, organisations are held accountable to any current or future stakeholders. King IV™ has introduced an ‘apply and explain’ regime which recommends the transparency of organisations throughout the application of their corporate governance practices.

King IV™ reiterates that good corporate governance goes beyond a quick tick box or compliance exercise, and should be considered as a universal, integrated collection of measures that require an extensive understanding and should be implemented in an integrated manner. King IV™ recommends that the King IV™ Code be applied in a sensible manner to ensure that an organisation’s practices are interpreted accordingly. This ensures that an organisation takes full advantage of the benefits offered by this facet of corporate governance.

• Boosted reliability and improved reputation. A well-governed organisation is better suited to access financing at more desirable rates, ensuring the organisation is more appealing to investors and shareholders. These organisations tend to attract loyal customers and talented employees.
• Good governance leads to more control, transparency, and a stronger resistance to fraud. White-collar crimes are currently one of the greatest risks for organisations as they are often underreported.
• Good corporate governance enables organisations to mitigate risks more successfully to add to their disaster recovery capabilities, ensuring the organisation is more robust.
• Corporate governance codes oblige governing bodies to create succession plans for high-profile leaders to avoid any interruptions in leadership, which can be detrimental to an organisation.

King IV™ has principles related to ISO 9001:2018 Quality Management Systems and ISO 31000:2018 Risk Management Guidelines to assist in ensuring a framework of Good Governance. The ISO 37000 Guidance for the Governance of Organisations.  Key principles and relevant practices and a framework to guide the governance of organisations in how to meet their responsibilities so that they can fulfil their purpose. It is applicable to all organisations, regardless of type, size, location, structure or purpose.

WWISE can assist in implementing ISO 9001:2018 in conjunction with ISO 31000:2018 and ISO 37000:2016 to assist organisations with Governance best practices.

COBIT stands for Control Objectives for Information and Related Technologies, quite a mouthful isnʼt it? Basically, COBIT is a framework created by the Information Systems Audit and Control Association (ISACA) for Information Technology Management and IT Governance. The framework highlights and defines the generic process of IT Management processes, relative objectives and outputs, key processes and Objectives. The framework measures performance and maturity using the Capability Maturity Model (CMM) which is a tool to study data collected from organisations contracted in the U.S Defence force.

•  COBIT is a world recognised IT management framework with globally accepted principles, practices, tools. and models that increase trust.
• The framework can be implemented within organisations of any size.
  Additionally, COBIT can be aligned to the ISO 27001:2013 Information Security Management System Standard.

WWISE cannot certify your organisation against COBIT 5. We can however introduce you to the ISO 27001:2018 Information Security Management System. This Information Security Management system (ISMS) will ensure you comply with the principles of COBIT 5. By implementing this ISMS, you will reap benefits through:

• Time and cost savings.
• Improved productivity and customer satisfaction.
• Your organisation’s senior management has efficient ways to manage areas of responsibility as they are clearly defined.

Once certified, you will gain credibility in the industry and a competitive edge, especially when tendering for public work projects. Certification shows your customers that you follow standardised procedures and give them the assurance of consistency. You also benefit from quality measures. Once the systems are in place, you can ensure on-time and high-quality service delivery, a decrease in returned products, less time spent in handling complaints, and improved employee morale.

1. Ignorance of the law is no excuse
   The POPI Act applies to any public or private institution which processes personal information. This includes processing the personal information of other entities. It is a code of conduct by which all businesses must comply. The penalties for non-compliance range from penalties of up to R10 million or imprisonment of up to 10 years. Therefore, achieving legal compliance brings with it a reduction in the risks of restrictions on fines and lawsuits.
2. Alignment to global best practice
   Multiple jurisdictions around the world have already implemented data privacy legislations, such as the EU’s GDPR, the California Consumer Privacy Act, Australia’s Privacy Principles (APP), Canada’s Personal Information Protection and Electronic Data Act (PIPEDA) and Brazil’s Brazilian Internet Act amongst others. Therefore, compliance with the POPI Act assists organisations in aligning with global best practice in the field of Data Privacy.
3. Transactions with global entities
   Non-compliance with globally aligned legislation like POPI can restrict a company’s ability to transact with other companies in the information economy.
4. Transparency in processing information
   Compliance to the POPI Act assures stakeholders that an organisation will process information in a trustworthy manner. When consumers trust an organisation, they are more likely to share their private information with such an organisation. Therefore, POPI compliance becomes a marketable tool.
5. Data Security Culture
   South Africa is reported to have the third highest rate of phishing attacks in the world. Furthermore, it is estimated that South Africa loses R1 billion a year due to cybercrime-related activities. Therefore, compliance to POPI assists in instilling an organisation-wide culture of data security.

The benefits of complying with the POPI Act include:

• Aligning with International standards.
• Aligning with ISO 27001.
• Balance between the right to privacy and rights of access to information.
• Implementing the constitutional right to privacy by safeguarding an entity’s personal information.

WWISE simplifies compliance to the POPI Act by assessing your businesses’ current compliance to the Act against the measures that need to be taken for full compliance. Compliance with the POPI Act is aligned to the ISO 27001:2013 standard.