The design of the instrument is such that it can be employed towards different intents, including:
- implementation of King III
- assessment of implementation
- reporting on application of King III and other relevant governance standards.
The assessment criteria in GAI are based on the principles and recommendations contained in King III as well as those provisions of the Companies Act, 2008 and the JSE Listing Rules that pertain to governance, including:
- ethical leadership and corporate citizenship
- board of directors
- audit committees
- governance of risk
- governance of information technology
- compliance with laws, codes, rules and standards
- internal audit
- governing stakeholder relationships
- integrated reporting and disclosures
Each assessment criterion has an appropriate answer set and weighting attached to it, which takes account of the relative impact that it has on the overall governance at an organisation in relation to the other criteria.
On completion of the assessment assertions, GAI generates reporting that consists of the following:
- an overall organisational result
- a traffic light indicator and dashboard per assessment category
- narrative reporting with various degrees of detail depending on the requirement of the user.
This assessment is not merely a tick-box system of yes/no responses but instead, provides you with a method of reviewing the principles and applying the rating model for both your current standing as well as the future, desired standing of the organisation.
To access the Governance Assessment Instrument, click here: http://www.iodsa-gai.co.za/mazars/