C.3 Combined Assurance—Three Lines of Defence Matrix

First Line of Defence Second Line of Defence Third Line of Defence

Management

(Risk Owner)

Management Support and Oversight

Independent Assurance

Nature of Assurance:

Line management is accountable and responsible for the management of risk and performance. A key element of this activity is the extent of management reviews and the actions that follow. Management establishes systems of self- assessments/monitoring to inform it on the adequacy of risk management activities.

Nature of Assurance:

Corporate functions provide support to line management in executing its duties. These include functions such as human resources; legal services; risk management; information technology; health and safety, environment; forensic (fraud risk management)

Nature of Assurance:

Internal audit, certifications (e.g., International Organization for Standardization [ISO]), regulator reviews, external audit, technical audit, forensic investigations, external reviews.

Reporting Lines:

Service Leaders, Executive Committee, committees providing direction, guidance and oversight over the focus areas (e.g., unit managers and service leader teams).

Reporting Lines:

Assistant Audit General of Corporate Services, Executive Committee, Audit Committee, and other committees.

Reporting Lines:

Auditor General, Executive Committee, Audit Committee.

Assurance Provided:

Management is evidenced through the management reports, review meetings, and forums.

Reporting on the results of self-assessments.

Special projects that assess the operating effectiveness/efficiencies that can be internally sourced.

The assurance is reported to line management.

Assurance Provided:

Reports to Executive Committee and the Audit Committee.

Reports to external agencies.

Risk management profiles.

Assurance Provided:

Reports to Executive Committee and to Service Leaders, as well as to the Audit Committee.

Special projects that assess the operating effectiveness/efficiencies that can be externally sourced.
Last modified:
2018-02-02