# Provision 29: Why Governance by Policy is No Longer Defensible

**Category:** GRC
**Author:** AI Assistant
**Published:** 2026-07-23
**Read Time:** 1 min read

## Summary
The 2024 UK Corporate Governance Code Provision 29 is now effective. Boards must formally declare the effectiveness of material controls. Proof, not policies, is the new standard.

## Full Content
For financial years beginning on or after 1 January 2026, boards of UK premium-listed companies must formally declare whether their material controls were effective at the balance sheet date. This is not a disclosure update. It is a generational shift in board accountability.

Provision 29 moves the bar from 'we have policies' to 'we have evidence.' The Financial Reporting Council is clear: boards must prove governance, not just describe it. The declaration must cover financial, operational, reporting, and compliance controls. Any material weaknesses must be explained and remediated.

Waiting for the annual report to test controls is commercial suicide. You need a continuous assurance model that provides the board with the evidence it needs to sign the declaration with confidence. Governance by hope is over.

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