CorporateGovernance &King3

At first glance, King 3appears to be similar to theprevious King 2 , there aresignificant differences, manyof them aspirational, whichwill have practicalimplications for boards,directors, management,assurance providers 3 summary and implicationsIn this King 3 summary document, we have provided an interpretation of thesignificant changes as well as a quick reference guide. KPMG interprets some ofthe changes and related implications as follows:ApplicabilityKing 3 applies to all entities regardless of the manner and form of incorporationor establishment and whether in the public, private or non-profit sectors. Implications:KPMG anticipates that entities and stakeholders will require adeeper understanding of governance in order to decide how governanceprinciples and practices should be adopted and implemented in their particularentity the one size does not fit all consequence.

Atfirstglance,King3 appearstobesimilartothe previousKing2report. However,thereare significantdifferences,many ofthemaspirational,which willhavepractical

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