IIA-Australia Factsheet - Integrated Assurance

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Author	IIA-Australia
Date	2022
Topics Explored	Governance
Format	Factsheet
Extract/Description	Integrated assurance is a way for internal audit and other assurance providers to work together to align their assurance processes so the audit committee and senior management are given insights on governance, risk management and control arrangements from a comprehensive holistic perspective. This helps to provide consistent messaging, is more efficient, provides a common view of risks, and delivers more effective oversight.
Key Points	An assurance map makes all assurance activities and their effectiveness visible to the board of directors, audit committee and senior management. Not every action identified an assurance map can be solved by an internal audit engagement or activity. An assurance strategy seeks to allocate potential assurance improvement activities to all the ‘3 Lines of Assurance’. An assurance strategy identifies strengths and potential improvements for all ‘3 Lines of Assurance’, not just topics for the internal audit plan.
Relevant Industries	All
Level of Assumed Knowledge	Expert