By Pieter Strydom – Associate
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The fifth iteration of South Africa’s corporate governance benchmark, the King V Report on Corporate Governance for South Africa, 2025 (“King V”), was officially published on 31 October 2025 by the Institute of Directors in South Africa and the King Committee. King V replaces King IV and reflects nearly a decade of evolution in governance thinking, legislative reform and shifting stakeholder expectations.
King V applies to financial years commencing on or after 1 January 2026. As with its predecessors, King V remains a principle-based, voluntary code that applies across organisational types on an “apply and explain” basis, with particular relevance for governing bodies and governance professionals alike.
Key Developments in King V
King V does not radically change the governance landscape, but it raises expectations. Boards are expected to demonstrate clearer accountability, measurable governance outcomes and stronger oversight of emerging risks. The principles have been reduced from seventeen to thirteen, with greater emphasis on practical implementation and transparent reporting. Importantly, Principle-10 places responsibility on boards to govern data, information and technology in a way that supports strategy and long-term sustainability. This brings digital risk, including Artificial Intelligence (“AI”), firmly into the boardroom.
Artificial Intelligence and King V
When governing bodies consider the adoption of evolving technologies such as AI, it is important that appropriate governance structures are implemented to regulate its use and adoption within an organisation.
Organisations are required to demonstrate clear accountability for their decisions, actions, outputs and outcomes. This includes ensuring that the processes, data, models, algorithms, resources and tools used in the design, deployment, oversight and management of AI are subject to appropriate human supervision and intervention mechanisms, aligned with the level of risk posed to the organisation and its stakeholders.
Conclusion
King V does not represent a radical departure from King IV but rather signals a maturing of South Africa’s corporate governance framework. Organisations that proactively assess and align their governance practices with King V will be better positioned to demonstrate sound governance, manage risk and respond to evolving stakeholder expectations.
It is vital for organisations to review and update existing governance frameworks, board charters, committee mandates and key policies to ensure alignment with King V’s refined principles and outcomes. While wholesale changes may not be required, targeted updates, particularly in relation to the fast-moving and continually evolving use of AI within organisations, are paramount to maintaining good corporate governance.