IoDSA and King Committee Publish King V Report 2025

Posted 01 December 2025 Written by Acts Online
Category Corporate Governance

Brought to you by SA Accounting Academy: The Institute of Directors in South Africa (IoDSA) and the King Committee have released the King V Report on Corporate Governance, introducing a mandatory Disclosure Framework and refined principles for financial years commencing on or after 1 January 2026.

The King V Report on Corporate Governance in South Africa 2025 replaces the King IV Code and is effective for financial years beginning on or after 1 January 2026. While the effective date is set for 2026, the IoDSA recommends early adoption to ensure a seamless transition from the previous framework. The report aims to streamline governance practices, align with recent legislative developments, and standardise reporting through a dedicated disclosure mechanism.

King V maintains several core elements from King IV, including:

  • The “apply and explain” regime;
  • Universal application to all organisations regardless of legal form;
  • An outcomes-based approach focused on ethical culture, good performance, effective control, and legitimacy;
  • Proportional implementation of recommended practices; and
  • Fundamental concepts of integrated thinking, stakeholder inclusivity, and corporate citizenship.

The King V Disclosure Framework

A significant departure from the previous code is the introduction of the King V Disclosure Framework. This framework is considered an inextricable part of the Code, setting out the specific form and content required for governance disclosures. Any organisation claiming to apply King V must use this framework and publish disclosures in accordance with its specifications. While the governing body may adapt the design of the report, the content must address the stipulated declarations and disclosures to ensure accountability.

Organisations are advised to begin preparation by conducting a gap assessment against the new principles and practices. This process should include updating board charters and key policies where necessary and mapping current reporting lines to the new disclosure requirements.

Click here to download the King V Code, the Executive Summary, or the Disclosure Framework.

What this means for you, your business, or your clients

  • For yourself: You must update your professional advisory templates and technical knowledge to reflect the transition from King IV to the King V “apply and explain” requirements and the new Disclosure Framework.
  • For your business: Your firm must initiate a gap assessment of its current governance structures against King V principles and update board charters and internal policies before the 1 January 2026 effective date.
  • For your clients: You must assist clients in mapping their current governance reporting to the mandatory King V Disclosure Framework to ensure they can validly claim application of the Code in their annual reports.

Originally published at https://accountingacademy.co.za/news/read/iodsa-king-v-report-2025

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