The King James Bible is the official version of the Bible used by the Church of Jesus Christ of Latter-day Saints. In August 1992, the First Presidency released the following statement concerning the King James Bible:
Many versions of the Bible are available today. Unfortunately, no original manuscripts of any portion of the Bible are available for comparison to determine the most accurate version. However, the Lord has revealed clearly the doctrines of the gospel in these latter-days. The most reliable way to measure the accuracy of any biblical passage is not by comparing different texts, but by comparison with the Book of Mormon and modern-day revelations.
While other Bible versions may be easier to read than the King James Version, in doctrinal matters latter-day revelation supports the King James Version in preference to other English translations. All of the Presidents of the Church, beginning with the Prophet Joseph Smith, have supported the King James Version by encouraging its continued use in the Church. In light of all the above, it is the English language Bible used by The Church of Jesus Christ of Latter-day Saints.
Earlier this month, the New York Times released an exciting development; the earliest draft of the King James Bible has been found. Below is an excerpt from that article.
The King James Bible is the most widely read work in English literature, a masterpiece of translation whose stately cadences and transcendent phrases have long been seen, even by secular readers, as having emerged from a kind of collective divine inspiration.
But now, in an unassuming notebook held in an archive at the University of Cambridge, an American scholar has found what he says is an important new clue to the earthly processes behind that masterpiece: the earliest known draft, and the only one definitively written in the hand of one of the roughly four dozen translators who worked on it.