THREE [35] SmartDesign (Pty) Ltd has been looking at its governance structures in the 2021 financial period based on the initial interactions and recommendations provided by your audit team over the control environment and feel that there is room for improvement in order to ensure that effective decision making is filtered down at all levels of management. You have been requested to assess SmartDesign's governance structure and determine the issues (if any) and provide recommendations and best practices that SmartDesign can implement. Through inquiries and inspecting minutes of meetings for the 2021 financial year you have noted the following in respect of the board composition: Executive board Mr J Waterbrook (CEO and Chairman of the Board)- Degree in Architecture Mr K Jules CA (SA) (Finance Director) - - Mr R Law (Production Director)- Honours Degree in Supply Chain Mr B Biggs (Marketing Director)- no formal qualifications however has 15 years of experience in field Mr L Light (Human Resources Director)- Degree in Social Studies Mr AK Kwidi (independent non-executive director) - Mr J Waterbook's brother in-law Audit committee Mr J Waterbrook (CEO and Chairman of the Board) Mr K Jules CA (SA) (Finance Director) - Mr R Law (Production Director) Mr AK Kwidi (independent non-executive director) There are no other boards or committees set up by SmartDesign in the current financial year and you have noted that their PI Score is in excess of 600 points in both the current and prior financial period. Additionally, through inspection of the minutes it was noted that the CEO and CFO determine and approve all board and committee remuneration and recently awarded bonuses to each member due to the performance of the entity for the period. It is noted that the CEO makes appointments to the board based on his own criteria set out to ensure that the right people are on the board to ensure that proper decision making can occur. When the CEO was questioned on succession plans for the board and other committees he responded that there is no such plan as he intends to stay at SmartDesign for as long as possible and since he is here there will be no need for such plans. The board has also not appointed a company secretary and all administration tasks are currently being performed by the marketing manager. Upon further inquiry with management you noted that there is currently no formal on-going training and concern was given by the board to ensure that a formal policy be implemented to train new/existing directors. Identify the issues relating to the board and committees at SmartDesign and recommend appropriate changes in order for SmartDesign to be aligned with King IV