The King II report formally recognized the need to move the stakeholder model forward and to consider a triple bottom line instead of a single bottom line of profitability.

Question

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The statement is correct. The King II report, a corporate governance code in South Africa, emphasized the importance of considering the interests of all stakeholders and adopting a triple bottom line approach, which takes into account social, environmental, and financial performance.

The King II Report Formally Recognized the Need to Move