The governing body of Raw Enterprises is predominantly composed of family members who have been integral to the company since its establishment. Throughout the company's history, this board has taken a relatively informal approach to managing the organisation, relying on their shared industry knowledge and understanding of the company's objectives to make decisions. However, with the company's ongoing expansion, there is a growing awareness among family members of the necessity to adopt more structured and professional corporate governance practices.

The question is:

Raw Enterprises has engaged your services to provide counsel to their board regarding the composition of the governing body in accordance with King IV principles $($The principles are, one, the duty to Appoint an Independent Non$-$Executive Director, two, Functions of the Chairperson of the Governing Body in relation to the organisation are, three, The Chairperson of the Governing Body has to following in relation to the governing body

responsibilities, four, Responsibilities of the Chairperson of the Governing Board in relation to management are, and five, Responsibilities of the Chairperson in relation to meetings of the governing body are$).$

Now, deliver a comprehensive report, remember to fully outlining the recommended changes derived from the above scenario from all five king IV principles.