In July 1993 the Institute of Directors in South Africa asked King to chair the first official committee on corporate governance. The King Committee on Corporate Governance issued its first report (King I), a comprehensive code of corporate practices and conduct, in 1994. King viewed the committee as an opportunity to educate the recently democratized South African public on the principles of working in a free economy. King I was the first report of its kind in South Africa. In 2002, when the Earth Summit was held in Johannesburg, King pushed for a revision of the report (King II), including new sections on sustainability, the role of the corporate board, and risk management. The report was further revised in 2009 (King III). Compliance with the King Reports is a requirement for companies listed on the Johannesburg Stock Exchange. The King Report on Corporate Governance has been cited as "the most effective summary of the best international practices in corporate governance".