THE IIA’S THREE LINES MODEL

THE IIA S THREE LINES MODEL An update of the THREE LINES of Defense Table of Contents Introduction .. 1 Principles of the THREE LINES MODEL .. 2 Principle 1: Governance .. 2 Principle 2: Governing body roles .. 2 Principle 3: management and first and second line roles .. 3 Principle 4: Third line roles .. 3 Principle 5: Third line independence .. 3 Principle 6: Creating and protecting value .. 3 Key roles in the THREE LINES MODEL .. 5 The governing body .. 5 management .. 5 Internal audit .. 6 External assurance providers .. 6 Relationships among core roles .. 7 Between the governing body and management (both first and second line roles) .. 7 Between management (both first and second line roles) and internal audit .. 7 Between internal audit and the governing body .. 8 Among all roles .. 8 Applying the MODEL .. 9 Structure, roles, and responsibilities .. 9 Oversight and assurance ..10 Coordination and alignment ..10 1 INTRODUCTION Organizations are human undertakings, operating in an increasingly uncertain, complex, interconnected, and volatile world.

(including managing risk) by manage-ment to achieve the objectives of the organiza- ... Alternatively, second line roles may span a broader responsibility for risk management, such as enterprise risk management (ERM). However, responsibility for managing risk remains a part of first line roles and within the scope of management.

Loading..

Tags:

  Management, Risks, Enterprise, Ment, Enterprise risk management, Manage

Information

Related search queries