The short answer: almost everyone with a governing body, a strategy, stakeholders, or a coffee machine in the canteen. Listed companies face formal disclosure requirements through the JSE, but the principles are useful for any organisation that wants to look trustworthy and prepared. When it comes to disclosures King V recommends an apply-and-explain model. That simply means apply the practices found in the code and if you don’t, explain why not and disclose any other practices you applied to achieve the objective set WHO SHOULD CARE? by a specific principle. Creating these frameworks is generally a forester’s nightmare and a compliance officer’s burden to carry. But fear not, the code is written so that anyone can understand it and it includes a disclosure template that can be used by organisations when they prepare their disclosures for reporting purposes. Thank you King Committee! It helps boards and governing bodies, who are serious about being a good corporate citizen, make better decisions, build trust and create sustainable value without having to reinvent the wheel on good governance. King V is not just another compliance checklist to keep on a spreadsheet and stick into an annual report once a year for everyone to admire. It is all about sustainability in a world fraught with unknowns. Business is no longer just about profit, products and glossy annual reports. Organisations now face cyber risks, artificial intelligence, It is a practical guide for organisations that want to be ethical, resilient, transparent and future-ready. In a world where many organisations follow a head-in-the-sand-approach, King V gives businesses a clearer line of sight so they can move forward with purpose for generations to come. For South African businesses, King V can help strengthen decision-making, improve risk management, support better reporting, build WHY DOES KING V MATTER? AND HERE IS THE SO WHAT sustainability pressure, regulatory scrutiny and stakeholders who expect answers faster than you can say “chainsaw”. King V helps organisations respond to this more complex world. investor and market confidence and promote long-term value creation. In forestry terms, it helps organisations prune what is risky, water what is valuable and avoid pretending that forest fuel loads are nothing to be worried about. In an industry like forestry where long-term goals are inevitable, King V becomes the ultimate roadmap to sustainability. (If you want to know more about King V visit the IODSA website for some great resources. www. iodsa.co.za) 31 30
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