Ch3 Review Questions
Ch3 Review Questions
Ch3 Review Questions
4:What is The IIA’s definition of governance? How does this definite relate to
the figure in exhibit 3-3?
The IIA definition of corporate governance, included within the International Standards is:
10.What are the three lines of defense in the Three Lines of Defense model?
The first line of defense represents the internal control activities conducted by individuals
and management.
The second line of defense represents other assurance activities: financial controller; risk
management; compliance; health and safety; environmental;
The third of line of defense represents the most independent and objective form of
assurance.
The Three Lines of Defense model provides a simple and effective way to enhance
communications on risk management and control by clarifying essential roles and duties.
11.What is a combined assurance model? Why do some organizations use such mod
els?
To combat assurance fatigue,some organization have developed models called combined or
integrated assurance models. These models vary from one organization to the next, and can be
implemented at a high level or in great detail. In general, such models focus on understanding the
different types of assurance being provided, and based on the level of risk being assessed and
how strong the assurance is, a coordinated plan or calendar is developed to facilitate awareness
of what assurance activity will perform assessments when, and how other assurance activities
can rely on that work.