Maximising the value from assurance

What is it important that senior management and boards understand?

All of the answers

Enterprise risks

The assurance provided

The effectiveness of controls

What is the most common way of mapping out what the organisation looks like?

By legal entity

By change programme

By product view

Identify the audit units by risk category/individual risk, or by organisational structure and process view

The object of an assurance map is to:

Provide an overview of all assurance activity

All of these answers

To identify any gaps in assurance

To better understand the risk landscape and the assurance provided

What are the challenges to producing and maintaining an assurance map?

Scope and extent of assurance provided

All of these answers

Definition of assurance

Level of independence

What is an acceptable level of assurance provided to be included in the assurance map?

That provided by management (the 1st line of defence)

That provided by risk and compliance functions (the 2nd line of defence)

It is for each organisation to confirm what is an acceptable level of assurance provided

Only that provided by internal audit (the 3rd line of defence)

What must an organisation have for assurance maps to work?

A corporate methodology and language for assessing the results of assurance

A corporate methodology for scoring risk

A corporate understanding of the risk universe

All of these answers

Which of these is not a reason why it is getting harder to get to grips with the risks that organisations face?

It is not possible to get hold of any risk information

Risks are more complex

Root causes of issues are connected to the culture of an organisation

Risks are increasingly technical

Which of the following is a risk of using an assurance map?

It provides a source of identifying emerging risk events

Internal audit relies solely on the work of other lines of defence to avoid any duplication of effort

It helps to inform internal audit's assessment of the enterprise-wide control environment

The Audit Committee/board uses the assurance map as a sense check of assurance coverage

In July 2013, the Chartered Institute of Internal Auditors (CIIA) issued guidance for which sector?

Health sector

Financial services sector

Corporate sector

Public sector

What should an organisation do before it implements an assurance map?

Decide on the limitations of assurance provided by each line of defence

All of these answers

Agree an accepted definition of assurance

Align its corporate risk language

Maximising the value from assurance

What is it important that senior management and boards understand?

What is the most common way of mapping out what the organisation looks like?

The object of an assurance map is to:

What are the challenges to producing and maintaining an assurance map?

What is an acceptable level of assurance provided to be included in the assurance map?

What must an organisation have for assurance maps to work?

Which of these is not a reason why it is getting harder to get to grips with the risks that organisations face?

Which of the following is a risk of using an assurance map?

In July 2013, the Chartered Institute of Internal Auditors (CIIA) issued guidance for which sector?

What should an organisation do before it implements an assurance map?

You scored

0

out of

0

Test passed. Enter your details to download your certificate. Your certificate will also be sent to you by email.

Our sites

Useful links

Using this site

Contact us

Planned system updates