SA lauded by SAP for good corporate governance

South Africa has been hailed by SAP for its commitment to corporate governance. The company said it was committed to offering tools to enhance risk management processes.

Merle van Eeden, SAP Africa Solution Principal, governance risk and compliance, (GRC) said: “South Africa takes the matter of corporate governance very seriously. The release of the draft King III Report and draft Code on the 25 February 2009 by the South African Institute of Directors confirms SA’s commitment. In terms of this draft, as in the previous one, the process of risk management remains the responsibility of the board, who may delegate its implementation to a risk committee,”

“The SAP BusinessObjects Risk Management solution supports King III as it provides the tools needed for the entire risk management process on an enterprise wide basis, including the transparency and accuracy of information required by the board to enable it to fulfil its risk management obligations.”

The King report is the document containing codes and guidelines of good corporate governance for South African companies.