Adapt IT has always believed that strong governance practices are the foundation of a successful, well-run company. Ensuring that investors, customers, third parties and employees see it as a company with high ethical standards is important. Always striving to apply all principles of good governance in the King Code on Corporate Governance (King Code) is, therefore, closely connected to how the company operates. Adapt IT believes in explaining and disclosing its practices to demonstrate how principles are applied.
The company is committed to continually reviewing policies and practices to ensure that high levels of good governance are sustained, which includes periodically reviewing the policies used to maintain good ethics. It is understood that the annual disclosures which the King Code recommends, and which the JSE Listing Requirements prescribe, are part of sustaining good governance.
Risk is inherent to operating in the ICT sector. Adapt IT has for a long time accepted that risk, in its many forms, is unavoidable, but manageable. The company continually strives to manage its risks in a way that ensures that ensures good performance, while still adhering to other principles of good governance. The governing body's active leadership is at the heart of how risk is managed at Adapt IT. Its approach includes the identification of strategic objectives, setting and monitoring the culture of the group, as well as monitoring risk through an enterprise risk management framework and a combined assurance model.
There are many laws, codes, rules and standards that apply to Adapt IT and its relationship with stakeholders. These laws, codes, rules and standards range from those that apply to financial reporting, through relationship with employees, to how personal information is processed. Read more about some of the laws Adapt IT complies with.
Disclosure is a good way of ensuring transparency and accountability. Adapt IT welcomes the JSE Listing Requirement to annually disclose various aspects of governance in reports such as the Integrated Annual Report. The company discloses its implementation of the latest King Code on Corporate Governance by highlighting the practices that have been implemented under each principle of the King Code, including those that are intended to be focused on in the next reporting period.