You are currently the Audit Senior on the audit of Rocco Limited. They have 8 restaurants all over the Cape Winelands. They have a February year end. They listed on the Johannesburg Stock Exchange in January 2019. You were almost done the audit, when you were asked by the Audit Manager to prepare a report on their Corporate Governance and King IV compliance. The following information was revealed to you: Directors: Mr Giovanne Morkel Independent, non-executive director. Member of the audit committee, social and ethics committee. He has served as non-executive director since the inception of the company in 1996. He has never been employed by Rocco Limited, and the Board has never reviewed his independence. Ms Elrine Smith Independent, non-executive director and Chairman of the Board. Chairman of the remuneration committee and member of the nomination committee. She was the CEO of Rocco Limited up to July 2016 and was appointed as the Chairman of the board of directors by the shareholders on 1 March 2018. Ms Melissa Randall Independent, non-executive director. Chairman of the audit committee and member of the risk committee. Ms Daniel Slabbert Independent non-executive director. Chairman of the risk committee and member of the audit committee. Ms Sharon Fortuin Non-executive director. Chairman of the nomination committee. Mr Jason Ford Non-executive director. Mr Bernard Paulse Non-executive director. Chairman of the social and ethics committee and member of the risk committee. Ms Aria Rose Non-executive director. ANNEXURE F: FORMATIVE ASSESSMENT 1 60 HCGA232-1-Jul-Dec2021-FA1-MS-V2-19032021 Mr John Drury Non-executive director. Member of the nomination committee and social and ethics committee. Mr Saige Adams CA (SA) Financial Director, member of the remuneration committee. Mr Ben Foreman Chief Executive Officer. Member of the nominations committee. Mr. Carter Brooke Operating Director. Member of the nominations and remuneration committee. 

Required:

Discuss the contraventions committed by Rocco Limited in terms of King IV, based on the above information. Limit your answer to the composition of the board of directors and the sub committees.

Answer rating: 100% (QA)

The 8 Restaurents in the cape winelandsMr Giovanne who is the member of audit committee social and e... View the full answer