- Before
- “I need to know, control by control, that what we will sign is true at 31 December.” Today that means a spreadsheet, an email chase and a paragraph written late.
- Now
- Opens one conversation with the agents beside the assurance map; accepts late evidence, classifies each control with a reason code and signs as preparer.
One declaration, from the year-end evidence to the first signature
Kestrel & Vane Group plc is a London-listed group with a 31 December year end, in its first Provision 29 year. It is Monday 1 February 2027, 09:40. The audit committee meets on Thursday 18 February and the board approves the annual report on 4 March. Here is the morning, screen by screen, in the working solution.
- 01Mon 1 Feb, 09:40
A conversation with the agents, beside the map they are filling
Imogen Hale · Head of Risk and Internal ControlImogen opens one screen. On the left, the thread of what seven agents read, found and need from her. On the right, the assurance map: 38 material controls under 12 principal risks, each a tile with three bars (owner, second line, internal audit) filled to its latest evidence. Above the map sits the declaration in one sentence, drawn from paragraphs 4 to 6 of the draft, which changes as gaps close.
“As at 31 December 2026, the group's material controls operated effectively, except two: dual authorisation of treasury payments (MC-07) and recovery of critical systems (MC-21), described below with the action taken or proposed.”
- 0207:12
1,412 items of evidence, each dated against 31 December
Evidence agentThe evidence agent has read the owners' Q4 self-assessments, the second-line reviews, internal audit's workpapers and system records, dated each one against the balance sheet date and checked it covers the right entities and period. 36 of 38 controls have all three lines in date. Two do not. Every statement carries a citation, and “Plan and sources” shows what the agent read.
“The 36 include MC-33, whose second-line review is dated 12 Jan: it counts only if you accept it.”
- 0307:20
A sample failed, so it read all 1,126 payments
Testing agentInternal audit's May test of MC-07 sampled 25 treasury payments and found one released by a single approver: £1,840,000 on 12 May through the banking platform's emergency route. Under evidence rule 5, the testing agent read every payment over £250,000 in 2026 and found two more, on 9 and 23 November, £412,000 and £1,058,000. All three went to known suppliers for the right amount; no loss arose. The route still existed at 31 December, so the agent proposes not effective at the balance sheet date (CL-02).
Caroline Whitlock, audit committee chair, 26 Nov 2026: “After the May exception, I want every treasury payment checked, not a sample, before we declare.”
- 0408:24
No tested restore in 2026
Evidence agentMC-21 needs the six critical systems restored in a test at least once a year, within their recovery targets. The 2026 test, set for 18 November, was postponed during the finance system change freeze; the last tested restore was 9 October 2025. The agent proposes CL-03, not evidenced. The ERP has since been restored in 7 h 40 m against its 8-hour target, which is action taken, not evidence at the date. Marcus Odhiambo, the CISO, confirms the other five systems are booked for Thu 25 Feb.
- 0509:41
Late-dated evidence waits for a named person
Imogen Hale · Head of Risk and Internal ControlMC-33's second-line review, from the data protection office, is dated 12 January 2027 but describes the position at 31 December: 14 breaches assessed, 3 reported, all within 72 hours. Only the Head of Risk can accept evidence dated after the year end. Imogen accepts it with reason code EV-01 and a comment; had she declined, the count would drop to 35 and the declaration would name MC-33.
“Only you can accept evidence dated after the year end.” — the evidence agent
- 0609:42
She classifies; the agent only proposes
Imogen Hale · Head of Risk and Internal ControlImogen opens “Classify MC-07 at 31 December 2026” and confirms CL-02, not effective at 31 Dec: failed. The classification and her reason go on the audit trail and into the declaration. She then confirms MC-21 as CL-03. Every other material control stays CL-01, effective at 31 December.
In the classify dialog: “CL-04 needs a retest before 31 December; none exists for MC-07.”
- 07Weaknesses
What happened, how much, since when, and the fix
Daniel Ashcombe · Chief Financial OfficerEach control not effective at the balance sheet date is set out in plain terms. MC-07: three payments, £3,310,000 in all, no loss, a daily review of single-approved payments since 2 June, the route removed by 15 March 2027 and an internal audit retest by 30 April. MC-21: the finance system restored on 26 January, the other five by 25 February and a quarterly restore schedule by 31 March. The Q2 backlog in serious-incident investigations (MC-15) was cleared and retested before 31 December, so it is not reported as a weakness; the FRC passage that allows this is cited.
“A failure counts only if it was still open at 31 December.”
- 08Paragraph 4
Seven checks, one over-claim struck
Reviewer agentThe declaration agent drafted seven paragraphs, 485 words, with 31 citations. The reviewer agent checked every sentence against the evidence and the FRC's guidance: six of seven checks pass. Paragraph 4 said the controls “operated effectively throughout the year”, but the Code asks for the position at the balance sheet date and MC-07 failed in May and November. Its rewrite says “as at 31 December 2026”. Imogen accepts it (RW-01): declaration v0.4, seven of seven checks pass.
The reviewer agent never rewrites without approval: every rewrite is a proposal.
- 09Signed
Six signatures, in order
Imogen Hale, then Tomasz BrennerImogen signs as preparer with SO-01, approved as drafted. Next is Tomasz Brenner, Head of Internal Audit, for the internal audit opinion; then Daniel Ashcombe for the CFO sign-off, Rupert Lindgren for the wording, Caroline Whitlock for the audit committee's recommendation on 18 February, and the board on 4 March, recorded by the company secretary. Each step opens only after the one before it.
- 10On the record
Every step on a hash-linked trail
The audit trailEvery agent step and every decision — the late evidence accepted, both classifications, the rewrite, the signature — is an entry linked to the one before by its hash. The audit committee chair's challenge is kept as evidence of the board's oversight. Anyone with access can verify the chain and export the evidence pack for the audit committee or the external auditor.
Audit trail filters: Agent steps · Decisions · Evidence · Challenges · Sign-offs.