New Report on The Three Lines Model
With the release of The Three Lines Model, The IIA documented clearly that the main essential elements of governance are accountability, actions, and assurance and advice. Responsibility for these elements is typically assigned to the three essential players in governance: the governing body, management, and internal audit.
This new Global Perspectives and Insights report provides a straightforward view to help organizations identify structures, design processes, and assign responsibilities that assist the achievement of objectives to facilitate strong governance and risk management. As a tool, The Three Lines Model is meant to be adaptive, which means that application of the model’s core elements will vary depending on the individual organization and its goals. Needed now more than ever, this Global Perspectives and Insights will clarify these essential governance elements and answer questions about implementing The Three Lines Model in different industries.
- Become consistent with a more modern view of risk management, that risk is as much about taking opportunities as it is preventing negative impacts.
- Enhance the role of the governing body.
- Shift focus from ‘structure’ to ‘roles.’
- Define principles to allow for scalability and flexibility.
- Strongly encourage collaboration among the components of the organization.
- Confirm that independence does not imply isolation.
About Global Perspectives and Insights
Developed in response to a high demand for timely thought leadership that is powerful, timely, relevant, topical, and responsive to global geopolitical and economic influences, The IIA created Global Perspectives and Insights. This new thought-leadership series, offers insight and direction on key issues, with perspectives that resonate globally. Its content will come from a variety of sources, including: IIA Global, Affiliates, Associated Organizations, and advocacy partners, such as IFAC and INTOSAI.