Provision 29: What You Really Need to Know, and Why It’s Changing Risk & Assurance Hiring

You might’ve seen a few headlines about Provision 29 recently. If you work in or around risk, audit or compliance, it’s definitely one to keep on your radar.

This latest update to the UK Corporate Governance Code  might sound like more corporate waffle at first glance, but in truth, it’s a big shift. Boards of listed companies are now expected to formally confirm that their internal controls are effective, and that’s not something you can do with a quick end-of-year tick box. It needs real substance behind it.

So, what does this actually mean?

It means that internal controls need to be reviewed properly, every year, and not just financial ones either. It now includes operational and compliance controls too. And boards can’t just say, “yeah, we’re fine” – they need evidence to prove it. That puts a spotlight on the people doing the work in risk and assurance roles. Which is where the hiring challenge comes in.

Why we’re talking about this as recruiters

At Broster Buchanan, we work with businesses across the UK to hire great people into risk, audit, and compliance teams. And right now, the pressure is growing. This isn’t a case of throwing extra resource at a problem. It’s about finding professionals who can design and run effective controls, spot the gaps, and give boards confidence in what they’re reporting.

We’re seeing demand for:

• Risk and control specialists who can work across functions, not just finance
• Internal audit leads who understand governance inside out
• Senior professionals who can influence at board level
• Interim support to get things sorted in time for year-end declarations

Provision 29 isn’t about red tape. It’s about trust.

At the heart of all this is trust. Businesses are being asked to put their name to a public statement, saying their control environment is working. That needs confidence in people, not just processes. And it’s our job to help businesses find those people – quickly, and with the right mix of experience and credibility.

If you’re thinking about what this might mean for your team, or just want a sense of how others are approaching it, we’re happy to share what we’re seeing. Whether it’s permanent hires, interim support or just a sounding board, we’re here to help.

If you’re thinking about what this means for your business, or want to get a better understanding of how other companies are approaching it, we’re more than happy to share what we’re seeing across the market.

Drop us a Line to Make Sure You’re Ready for Whatever’s Coming Next