The King IV Report represents a refining of King III, rather than any radical shift in direction. King IV sets out $17$ principles that $$embody the aspirations of the journey towards good corporate governance$($IoDSA$,2016,$ p$.40).$ The first and most crucial principle is: $$The governing body should lead ethically and effectively$.$ Everything else in the King IV philosophy flows from this $$ the logic being that organisations will not act rightly if their most senior leaders do not act rightly.

Steinhoff presented an analysis of the application of the $75$ corporate governance principles as recommended in the King III Report in which they mostly applied and if not, explained themselves. It is now known that this was largely untrue.

Refer to the $17$ principles of the King IV report $($refer to File under this Exam$).$ Select at least five principles, and criticise Steinhoff$$s conduct according to the principles you have selected. Recommend how Steinhoff could have improved on these principles to ensure good corporate governance.