<P> The King Report on Corporate Governance is a ground - breaking booklet of guidelines for the governance structures and operation of companies in South Africa . It is issued by the King Committee on Corporate Governance . Three reports were issued in 1994 (King I), 2002 (King II), and 2009 (King III) and a fourth revision (King IV) in 2016 . The Institute of Directors in Southern Africa (IoDSA) owns the copyright of the King Report on Corporate Governance and the King Code of Corporate Governance . Compliance with the King Reports is a requirement for companies listed on the Johannesburg Stock Exchange . The King Report on Corporate Governance has been cited as "the most effective summary of the best international practices in corporate governance". </P> <P> In July 1993 the Institute of Directors in South Africa asked retired Supreme Court of South Africa judge Mervyn E. King to chair a committee on corporate governance . He viewed this as an opportunity to educate the newly democratic South African public on the working of a free economy . The committee's report was to be the first report of its kind in South Africa . </P>

What is the purpose of the king code reports