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