Risk assurance

Internal audit matters: Combined assurance - How do boards obtain comfort over controls governance? 

Oct 2016

Are you achieving adequate assurance and are all of your key risks effectively controlled? Good controls governance is about ensuring a business "always does the right thing". Most businesses have some degree of a controls governance framework, but very few have all of the elements.

The 3 'lines of defence' concept is a recent development in controls governance. It provides the structure to identify insufficient or excessive controls coverage. A controls assurance map pulls everything together and provides the template from which Boards and their Audit Committees (ACs) can obtain a consolidated view of total controls comfort by process. The level of assurance provided needs to be credible. Internal Audit can set up a reliance certification framework against which they can "certify" the other assurance providers.

Cimi Leung
Tel: +[86] (20) 3819 2997 Email
Eric Yeung
Hong Kong
Tel: +[852] 2289 1953 Email
Jasper Xu
Tel: +[86] (21) 2323 3405 Email
Stephen Ducker
Tel: +[86] (10) 6533 2279 Email