On 24 February 2025, the Institute of Directors (IoDSA) published a draft King V Code on Corporate Governance for South Africa and an accompanying glossary and disclosure template
(collectively, the King V Draft) for public comment. Click
here for the IoDSA media statement.
The IoDSA media statement indicates that the King V Draft is a revised and streamlined update of the King IV Report on Corporate Governance for South Africa 2016 (King IV), following a review of King IV. According to the
King V Information document accompanying the King V Draft, objectives of the review were to: (i) update King IV in light of developments in corporate governance, including legislative developments; (ii) streamline the content and presentation of King V to support its interpretation and application by users; and (iii) facilitate and standardise disclosure on the application of King V, including through the introduction of a disclosure template.
Comments must be submitted to the IoDSA via an
online form by close of business on Friday, 4 April 2025. The IoDSA has encouraged submitters to review the
King V Information document for further context on the changes, before submitting comments. Further information can be found on the IoDSA's King V Draft website page, available
here.
Click on the following links to access the King V Draft documents:
draft King V Code,
King V glossary and
King V disclosure template.
We expect that the draft documents will be further refined throughout 2025 as part of the publication consultation process, with the final versions potentially being published later in the year.
Webber Wentzel will conduct a review of the King V Draft with the view to submit comments. Clients wishing to submit comments anonymously for our consideration are welcome to do so by contacting
Madelein van der Walt or your usual Webber Wentzel contact.
This summary is not intended to, and does not, constitute legal advice, and may not be relied upon. For further information or tailored advice, please contact Madelein van der Walt or your usual Webber Wentzel contact.
