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Published: 30 June 2026
Provision 29: The final stretch (PDF)
PDF Report: Learn what boards need to focus on in the final stretch ahead of making their first Provision 29 declaration
In brief:
- Companies are well into Provision 29 preparatory work, with emphasis shifting from design to execution.
- However, directors’ own monitoring and review of the overall risk management and internal control framework (of which material controls are a part) has received less attention in the boardroom and in reporting.
- This, including clearly distinguishing between the board’s ongoing monitoring and review activities, now needs to be a key focus, as it underpins the credibility of the declaration.
- In this final stretch, boards should also step back to ensure that previously identified material controls continue to address the key risks the business faces.