Provision 29: The End of Compliance Theatre for UK Boards
Financial years starting 1 January 2026 fall under Provision 29. Boards must declare the effectiveness of all material controls.
John Hotham here.
The UK Corporate Governance Code 2024 has introduced a new era of accountability.
Provision 29 applies to financial years beginning on or after 1 January 2026. This year, 2026, is your "evidence year".
Boards are now required to provide a formal declaration on the effectiveness of all material internal controls, covering financial, operational, reporting, and compliance risks.
This is the end of compliance theatre. You can no longer hide behind generic risk registers. You must demonstrate that your controls actually work.
The ROI of robust GRC is the avoidance of catastrophic failure. Provision 29 is not a tick-box exercise; it is a mandate for structural integrity.
Prepare your evidence now. The market will not forgive a qualified declaration in 2027.
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