The Institute of Internal Auditors has unveiled a revamped version of its famed Three Lines of Defense model for risk assurance. Perhaps the most notable change: no longer calling it the Three Lines of Defense.
Instead, the IIA guide is now officially known as “The Three Lines Model” — a nod to criticism over the years that the word “defense” led people to focus too much on risk reduction, rather than balanced risk management that would encourage a company to take proper risks, too. Read more
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