“Corporate governance principles were developed, inter alia, because investors, with the era of the professional manager, were worried about the excessive concentration of power in the hands of management.  This protection against greed could encourage the sins of sloth and fear, with an erosion of enterprise and an encouragement of subservience.  A balance is needed.”

The Code applies to:
	All JSE listed companies
	Banks, financial and insurance entities
	Public sector enterprises and agencies that fall under the PFMA and the Local Government: M FM Bill
It deals with:
	Boards and Directors (Structure, composition, roles, committees, remuneration etc)
	Risk Management (Responsibility, Reporting)
	Internal Audit (Status, role, scope)
	Integrated Sustainability Reporting (3 disclosure levels)
	Code of Ethics
	Accounting & Auditing (Audit Committee, reporting)
	Relations with Shareowners
	Communication (directors disclosure, reporting)