Autumn Budget 2025: Expert insights on what it could mean for you. Learn more
The prospect of complying with Provision 29 of the UK Corporate Governance Code (the Code) control reporting requirements may seem daunting, depending on your current situation.
To help you navigate these changes, we're sharing valuable insights on internal control compliance.
In January 2024, the Financial Reporting Council (FRC) published revisions to the Code following their 2023 consultation on how risk and internal control reporting could be included more effectively. This followed the Government announcements in late 2023 withdrawing secondary legislation and pursuing options to streamline and simplify existing corporate reporting.
Boards are more alert to risk and their responsibilities than ever, seeking greater assurance over the control environment. Although premium listed businesses should already have a framework of internal controls in place, these can vary widely. Though Provision 29 isn't effective until 1 January 2026, our latest corporate governance research found that only 2% of the FTSE 350 disclosed all of the recommended information.
While there's still time to finesse practices and systems, without these in place, the majority of companies could miss early warning signs of deteriorating business performance.
What does this mean for you, your Internal Controls framework and your annual report?
The Code update requires companies to report on the effectiveness of their material controls and emphasizes the management of material third-party risks. Compliance requires careful assessment and strategic planning for resilience and adherence.
Our analysis of FTSE 350 best practice can help you improve your own corporate governance
Following the Financial Reporting Council (FRC) publishing an update to the UK Corporate Governance Code, we explain what the Code changes mean and what you should do next.
Digital innovation and automation can generate valuable insights that help you monitor financial risks and controls in a complex and changing world. Wondering how you can get started?
How we helped a client demonstrate testing of its IT controls for SOX compliance, automating for efficiency and insight.
Controls automation can deliver quick wins and long term value to your compliance capabilities. If you get it right.
Information technology controls are vital for efficient UK Corporate Governance Code and technology controls. We look at the challenges and opportunities.
Introducing Wave – our app-based, ready-to-use analytics platform to help you generate intelligent insights to support risk management and control monitoring.
By leveraging the power of Wave, you can add significant value to your ICFR compliance programme.
The BEIS consultation will see an increase in the accountability of directors. What does this mean for you?
What do businesses need to consider when looking at culture and the UK Corporate Governance Code?
As the Code is likely to increase demand for third party risk assurance, we look at the options and key considerations.
A UK SOX regime has been suggested by numerous reports and reviews. Is the regime still on the cards for Britain?
You need to prepare for UK SOX: our guide explains what you need to know about the BEIS consultation
The BEIS response to audit and governance reform has been released. What can you do next to stay ahead of the curve?
With recent events bringing increasing complexity in businesses, audit committees, boards and executive management can be hindered by uncoordinated risk assurance. We look at how assurance mapping can get everyone on the same page.
