Facilitating an audit committee using the Three Lines Model

See more information on the Three Lines Model. 

The Institute of Internal Auditor’s Three Lines Model is a useful tool in facilitating good governance and risk management through identifying the structures and processes around an organisation’s governing body, management, and internal audit functions. The report, Institute of Internal Auditors – The IIA’s Three Lines Model provides a good overview.

When an Audit and Risk Committee, or management, have difficulty understanding their respective roles and responsibilities, this framework can help clarify the conversation. This framework can also help oversight functions of an entity explain why an issue occurred and, if steps had not been taken, why they were not.

The Three Lines Model is an update on the earlier Three Lines of Defense.