Provision 29 Compliance demo

Material controls evidenced to the balance sheet date, with every board claim cited. 1:32

What the demo shows

Evidences the UK Code Provision 29 board declaration on material controls

A conversation with seven agents beside an assurance map of the company's material controls. Each control is a tile under its principal risk with three bars, one per line of assurance, filled to its latest evidence and dated against 31 December; the draft declaration sentence sits above the map and changes as gaps close. A scoping agent proposes the material controls from the principal risks and criteria; an evidence agent dates every item against the balance sheet date; when a sample fails, a testing agent reads the whole population; a declaration agent drafts the board's statement citing every claim, and a reviewer agent strikes over-claims. The Head of Risk classifies with reason codes; internal audit, the CFO, the company secretary and the audit committee chair sign in order; the board declares.

Transcript

  1. Provision 29 Compliance evidences the board's material controls declaration for UK-listed companies.
  2. Directors must now declare their material controls worked at the year-end, and no auditor checks it.
  3. Kestrel and Vane has 38 under-12 principal risks, each with three lines of assurance.
  4. Agents read 1,400 evidence items, each dated against 31 December.
  5. Thirty-six controls have all three lines in date.
  6. Cyber Recovery had no test to restore all year.
  7. Treasury dual authorization failed in May.
  8. The agent read all 1,100 payments and found two more.
  9. Imogen confirms it was not effective with a reason code.
  10. The declaration agent names both with fixed dates and a reviewer strikes and overclaim.
  11. Every sentence cited, every sign-off logged for the audit committee on 18 February.
  12. The result, a signed paper in three days, with no failure found after the board signs.
  13. Built on Botminds: agents, data, screens, and governance on one platform.

Transcribed from the film’s narration. Captions are on the player.