{"id":8728,"date":"2019-06-17T15:00:24","date_gmt":"2019-06-17T13:00:24","guid":{"rendered":"https:\/iia-sets-exposure-period-for-proposed-updates-to-three-lines-of-defense\/"},"modified":"2019-06-17T15:00:24","modified_gmt":"2019-06-17T13:00:24","slug":"iia-sets-exposure-period-for-proposed-updates-to-three-lines-of-defense","status":"publish","type":"post","link":"https:\/\/vaa.lt\/en\/iia-sets-exposure-period-for-proposed-updates-to-three-lines-of-defense\/","title":{"rendered":"IIA Sets Exposure Period For Proposed Updates to \u2018Three Lines of Defense\u2019"},"content":{"rendered":"<p class=\"ms-rteThemeFontFace-2\"><em>Public comment sought June 20 through Sept. 19<\/em><\/p>\n<p class=\"ms-rteElement-P\">LAKE MARY, FL (June 17, 2019) \u2013 The Institute of Internal Auditors (IIA) announced today that it is seeking public comment June 20\u2013Sept. 19 on proposed updates to the Three Lines of Defense, a widely accepted and used model that addresses the many issues around organizational risk management and control.<\/p>\n<p class=\"ms-rteElement-P\">The Three Lines of Defense describes the respective roles of the board\/governing body, senior and operational management, risk and compliance functions, and internal auditing. The current model has the benefit of being simple, easy to communicate, and easy to understand. It helps organizations avoid confusion, gaps, and overlaps when they assign responsibilities for risk management and control activities. It also highlights the influence of external audit and regulators.<\/p>\n<p class=\"ms-rteElement-P\">Despite its widespread acceptance, however, the existing Three Lines of Defense has been criticized as being too limiting and restrictive. As its title conveys, the model emphasizes defensive actions and doesn\u2019t addresses the critical need to take a proactive approach for both opportunities and threats. The existing model also suggests rigid strictures and may reinforce ineffective and inefficient organizational silos.<\/p>\n<p class=\"ms-rteElement-P\">\u201cThe Three Lines of Defense has been a valuable tool for risk and control for more than two decades,\u201d said IIA President and CEO Richard F. Chambers. \u201cChanges proposed by a task force representing audit practitioners, risk and compliance executives, stakeholders, and others are designed to help modernize and strengthen the model to ensure its sustained usefulness and value.\u201d<\/p>\n<p class=\"ms-rteElement-P\">To access a review copy of The IIA\u2019s exposure document \u201cThree Lines of Defense\u201d and to participate in the public survey, go to <a href=\"http:\/\/www.theiia.org\/3LOD\" target=\"_blank\">www.theiia.org\/3LOD<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Public comment sought June 20 through Sept. 19 LAKE MARY, FL (June 17, 2019) \u2013 The Institute of Internal Auditors (IIA) announced today that it is seeking public comment June 20\u2013Sept. 19 on proposed updates to the Three Lines of Defense, a widely accepted and used model that addresses the many issues around organizational risk [&hellip;]<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-8728","post","type-post","status-publish","format-standard","hentry","category-iia-naujienos"],"featured_image_src":{"landsacpe":false,"list":false,"medium":false,"full":false},"_links":{"self":[{"href":"https:\/\/vaa.lt\/en\/wp-json\/wp\/v2\/posts\/8728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vaa.lt\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vaa.lt\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vaa.lt\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/vaa.lt\/en\/wp-json\/wp\/v2\/comments?post=8728"}],"version-history":[{"count":0,"href":"https:\/\/vaa.lt\/en\/wp-json\/wp\/v2\/posts\/8728\/revisions"}],"wp:attachment":[{"href":"https:\/\/vaa.lt\/en\/wp-json\/wp\/v2\/media?parent=8728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vaa.lt\/en\/wp-json\/wp\/v2\/categories?post=8728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vaa.lt\/en\/wp-json\/wp\/v2\/tags?post=8728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}