Question $3$

The King IV report allows for proportionality $($i$.$e$.$ the opportunity to tailor the governance requirements of King IV so as to be of relevance to the organisation$)$ by adopting a very practical approach.

$3\mathrm{.}1)$ What is the approach to regulation and implementation adopted by King IV called? $($Max $2$ lines$)$

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$3\mathrm{.}2)$ What does the approach imply in practice? $($Max$.12$ lines$)$

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$3\mathrm{.}3.)$ Who is ultimately responsible for risk management? $($Max$.1$ line$)$

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$3\mathrm{.}4)$ Who needs to provide assurance that the risk management plan has been implemented? $($Max$.1$ line$)$

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