Turning corporations into Kingdoms: GRC and Data Backup

By Brandon | May 6, 2011 @ 6:01 am

King III Requirements in South Africa and Business Corporate Governance considerations

This post is an overview of King III Requirements in South Africa

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Breakdown of all Company GRC Compliance Requirements

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King III Compliance Legislation

Compared to the 800 pound, legal gorilla called the Sarbanes-Oxley Act, King III comes across as something of a softie in the world of corporate governance.
It’s not legislated and therefore not enforceable. Moreover, it takes the mild stance of “apply or explain” over “do or else”. However, a deeper inspection reveals a subtle and intelligent approach to ensuring its adoption. It should also be noted how King III compliance provides companies with multiple benefits – operational efficiency and assists in ensuring effective data protection,

Kongfused about King III?

By Natasha | April 19, 2011 @ 9:15 am

To many companies, GRC (governance, risk and compliance) is a giant ape scaling the office walls.

As technology becomes more pervasive and critical to business success, the hairy creature that is GRC also gains in its complexity. Legislation surrounding various aspects of corporate governance, especially the management of business critical and personal data, further adds to the risk mix that companies are exposed to.
South African Judge Mervyn King identified this exposure and has, since 1994, led the way in establishing an (internationally recognized) benchmark by which boards of directors could measure their compliance in all aspects of business.
The King III Report is his latest offering, with a greater focus on IT governance – separating the “information” and “technology” components to assist companies in managing this critical business component.

According to the report, “The board should understand the strategic importance of IT, assume responsibility for the governance of IT, and place IT governance on the board agenda.” King III strongly emphasises the point that, when it comes to GRC, a company’s board of directors can delegate responsibilities and functions of it but, ultimately, they are accountable for it.