![]() ![]() In a smaller or less complicated organisation, a full assurance map will not be needed. An assurance map is a structured means of identifying and mapping the main sources and types of assurance in an organisation across the four lines of defence, and coordinating them to best effect. What is an assurance map?Īssurance is an objective examination of evidence for the purpose of providing an independent assessment on governance, risk management and control processes for the organisation. ![]() ![]() Even worse, some of the assurances may not match well against the underlying risk leading to inappropriate reliance.Īs technology allows organisations to monitor risks and develop controls in increasingly sophisticated ways, the job of getting the right assurance in the right place must also become more sophisticated.Īssurance maps are designed to help businesses overcome these weaknesses and can create considerable value for the organisation. This is because the assurances are frequently not well coordinated, and there can be gaps and cracks, as well as overlaps. Boards and senior management can be overwhelmed by the number of reports from different sources providing assurance over different aspects of risks and issues leading them to think that associated risks are being controlled effectively when they may, in fact, not be. When sound risk management practices are in place a key question is for all organisations is: How do we get assurance regarding the effectiveness of these controls and mitigations?Īssurance can of course come from a variety of sources, and the number and complexity of these also changes as an organisation grows. Boards, management executive groups and audit committees receive regular risk reports which set out the key controls and mitigations strategies in place to manage these risks along with additional mitigations proposed to bring the risks to level compatible with their risk appetite. Larger organisations often implement Enterprise Risk Management systems to expand the reach of their risk assessment and control. The benefits of identifying and managing strategic and operational risks, within the boundaries of the organisation’s risk appetite, are widely recognised.įor a small start-up this may be as simple as investing executive time in assessing and weighing the risks. Many organisations of all sizes invest heavily in risk management. How to manage common pitfalls when assurance mappingĪssurance maps for smaller and simpler entities Presentation to sell assurance maps to senior management ![]()
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