One goal, two teams: Aligning on managing risk and audits

6 minute read

In today’s world, with unpredictable economic and geopolitical events that have contributed to relentless volatility, it is essential for risk and compliance professionals and their teams to extend their capabilities to help cut through the silos and develop risk-sensing and measurement capabilities. There is a business imperative for organizations to become proactive, data-driven, and risk-intelligent in how they manage risk.

The Institute of Internal Auditors Inc.’s (IIA) Three Lines Model provides a framework for organizations to align activities using communication, coordination, cooperation, and collaboration.[1] It highlights leading practices to strengthen and sustain collaboration across the three lines and offers practical considerations to elevate an organization’s risk, compliance, and internal audit programs.

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