If you want a good understanding of what corporate governance is about, you could do a lot worse than read the excellent King III report which has been published recently by the Institute of Directors in Southern Africa.

As its name suggests, it is the third version of the South African corporate governance code and it applies to organisations in different sectors.  The King reports have won an international reputation and they have played a key role in ensuring that South African listed companies are regarded by foreign institutional investors as being among the best governed in the world's emerging economies.

The introduction and background itself provides a succinct overview of how corporate governance has developed - very useful for you students out there who want to understand how it fits into the overall context of business. 

Another interesting facet is how King incorporates issues such as sustainability and ethics.  The code is underpinned by strong ethical and moral principles embodied in the concept of Ubuntu.  For the uninitiated, this is one of the founding principles of South Africa and emphasises community, sharing and generosity.

The code itself is very clearly presented with recommended practices for each principle.  If you are based in a sector or country that does not have such a code, this would make a great starting point for developing good governance practice.  You can read more at http://www.iodsa.co.za.

And finally, I am fascinated by the number of prolific Mervyn Kings there are in the world!  Not only is he the South African judge who has chaired the South African corporate governance committees, but there is also the Governor of the Bank of England.  And there is a Mervyn King who is a British darts player (his nickname is The King) and yet another English version who plays bowls and was World Indoor Singles Champion in 2006.  Is there something in the name - or are they the same person?