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xi | |
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xiii | |
Acknowledgements |
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xv | |
Glossary of Key Terms |
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xvii | |
Foreword |
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xxiii | |
Preface |
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xxv | |
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PART I INTRODUCTION - THE CASE FOR INTEGRATED ASSURANCE: GOVERNANCE IN THE NEW ORDER |
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1 Corporate Governance on Trial |
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3 | (14) |
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Corporate Governance - The Dog that didn't Bark? |
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3 | (4) |
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Defective Information, Intelligence and the 'One Truth' |
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7 | (3) |
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Modernising Corporate Governance in the New Order |
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10 | (2) |
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To Conclude this Chapter ... |
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12 | (1) |
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Key Points from this Chapter |
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13 | (1) |
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14 | (3) |
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2 Risk Taking and Oversight |
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17 | (16) |
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Nature of Excessive and Blind Risk Taking |
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17 | (2) |
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Putting Risk Governance at the Heart of Corporate Governance |
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19 | (3) |
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Challenges in Risk Oversight Widen Cracks in Governance |
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22 | (3) |
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Being Alert to Limitations in Risk Information |
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25 | (4) |
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To Conclude this Chapter ... |
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29 | (1) |
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Key Points from this Chapter |
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30 | (1) |
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31 | (2) |
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3 Assurance against Excessive Risk Taking |
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33 | (10) |
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Intrinsic Link between Attitude to Risk Taking and Decision Making |
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33 | (4) |
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Managing Risks within the Board's Appetite |
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37 | (1) |
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Risk Oversight: Compliance with the Board's Risk Appetite |
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38 | (1) |
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To Conclude this Chapter ... |
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39 | (1) |
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Key Points from this Chapter |
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40 | (1) |
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41 | (2) |
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4 Openness and Transparency |
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43 | (10) |
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Transparency beyond Regulatory Compulsion |
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43 | (3) |
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Malfunctioning Risk Compass Obscures Board Oversight |
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46 | (1) |
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Avoiding Blind Trust and being Blindsided |
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47 | (3) |
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To Conclude this Chapter ... |
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50 | (1) |
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Key Points from this Chapter |
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50 | (1) |
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51 | (2) |
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53 | (12) |
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Personal Accountability - Doing the Right Things versus Doing Things Right |
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53 | (2) |
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55 | (1) |
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The Link between Assurance and Accountability |
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56 | (3) |
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Regulatory Spotlight on Personal and Corporate Accountability |
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59 | (2) |
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To Conclude this Chapter ... |
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61 | (1) |
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Key Points from this Chapter |
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62 | (1) |
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63 | (2) |
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65 | (14) |
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Assurance - Fact or Emotion |
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65 | (2) |
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Aligning Assurance with Expectations |
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67 | (4) |
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Maintaining Confidence in the Assurance Transaction |
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71 | (3) |
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To Conclude this Chapter ... |
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74 | (1) |
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Key Points from this Chapter |
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74 | (1) |
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75 | (4) |
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PART II RISK ASSURANCE BEYOND BOUNDARIES |
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7 Seeking the Holistic Risk and Assurance Picture |
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79 | (12) |
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A Plan to Inspire Confidence across the Assurance Food Chain |
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79 | (3) |
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The Need for a Joined Up and Holistic Risk Picture |
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82 | (3) |
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Seeking Risk Intelligence - When More is Less |
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85 | (2) |
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Working Beyond Functional Boundaries to Gain Collective Intelligence |
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87 | (1) |
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To Conclude this Chapter ... |
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88 | (1) |
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Key Points from this Chapter |
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89 | (1) |
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89 | (2) |
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8 Assurance in a Three Lines of Defence Model |
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91 | (12) |
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Key Principles of the Three Lines of Defence Model |
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91 | (3) |
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Interpreting the Three Lines of Defence Model |
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94 | (2) |
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Common Debates in Applying the Three Lines of Defence Model |
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96 | (4) |
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To Conclude this Chapter ... |
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100 | (1) |
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Key Points from this Chapter |
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100 | (1) |
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101 | (2) |
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9 The Current Faces of Integrated Assurance |
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103 | (14) |
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Different Interpretations of Integrated Assurance |
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103 | (2) |
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Integrated Assurance for a Particular Portfolio of Risk |
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105 | (4) |
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Integrated Assurance for Risks across the Enterprise |
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109 | (1) |
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Integrated Assurance from the Perspective of an Assurance Provider |
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110 | (3) |
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To Conclude this Chapter ... |
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113 | (1) |
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Key Points from this Chapter |
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114 | (1) |
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114 | (3) |
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10 Defining a Framework for Integrated Assurance |
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117 | (18) |
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What Good Looks Like from the Lens of the Board |
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117 | (2) |
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Defining the Integrated Assurance Framework |
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119 | (1) |
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Applying Integrated Assurance at Three Levels |
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120 | (4) |
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Key Components of an Integrated Assurance Framework |
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124 | (5) |
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To Conclude this Chapter ... |
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129 | (1) |
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Key Points from this Chapter |
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129 | (2) |
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131 | (4) |
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PART III IMPLEMENTING INTEGRATED ASSURANCE |
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11 Integrated Risk Assurance Mapping |
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135 | (8) |
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135 | (1) |
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Key Steps to Mapping Risk Assurance |
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136 | (5) |
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To Conclude this Chapter ... |
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141 | (1) |
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Key Points from this Chapter |
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142 | (1) |
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12 Integrated Assurance at Level 1 |
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143 | (8) |
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143 | (1) |
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Defining the Assessment Criteria at Level 1 Application |
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143 | (2) |
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Assurance Mapping at Level 1 |
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145 | (3) |
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Analysis and Reporting at Level 1 |
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148 | (1) |
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To Conclude this Chapter ... |
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149 | (1) |
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Key Points from this Chapter |
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150 | (1) |
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13 Integrated Assurance at Level 2 |
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151 | (10) |
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151 | (1) |
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Characterising Quality of Risk Assurance Activity |
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151 | (2) |
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Defining the Assessment Criteria at Level 2 Application |
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153 | (3) |
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Evaluation and Practical Application of Level 2 Assurance Map |
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156 | (2) |
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To Conclude this Chapter ... |
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158 | (1) |
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Key Points from this Chapter |
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159 | (2) |
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14 Integrated Assurance at Level 3 |
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161 | (20) |
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161 | (1) |
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Stage One - Assessing Confidence in Risk Assurance |
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162 | (10) |
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Stage Two - Promoting Shared Risk Intelligence |
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172 | (3) |
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Other Practical Applications at Level 3 |
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175 | (2) |
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To Conclude this Chapter ... |
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177 | (2) |
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Key Points from this Chapter |
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179 | (1) |
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180 | (1) |
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181 | (22) |
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181 | (1) |
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Key Question #1 What is the Nature of the Problem? |
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182 | (3) |
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Key Question #2 How Mature is Risk Management? |
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185 | (2) |
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Key Question #3 What is the Mindset of the Organisation? |
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187 | (3) |
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Key Question #4 What Resources and Expertise are Required? |
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190 | (2) |
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Key Question #5 What is the Scope of the Implementation? |
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192 | (5) |
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197 | (2) |
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Defining the Success Criteria |
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199 | (2) |
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To Conclude this Chapter ... |
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201 | (1) |
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Key Points from this Chapter |
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201 | (1) |
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202 | (1) |
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16 Key Implementation Challenges |
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203 | (14) |
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203 | (1) |
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Challenge #1 Absence of a Universally Defined Framework |
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204 | (1) |
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Challenge #2 Maturity of Risk Management |
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205 | (2) |
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207 | (2) |
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Challenge #4 Availability of Appropriate Resources and Skills |
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209 | (1) |
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Challenge #5 Champion at the Top |
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210 | (1) |
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Challenge #6 Coordination and Collaboration |
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211 | (1) |
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To Conclude this Chapter ... |
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212 | (1) |
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Key Points from this Chapter |
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213 | (1) |
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214 | (3) |
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Case Studies: Introduction |
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217 | (4) |
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Case Study 1 Audit Committee Approval of Audit Plans |
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221 | (4) |
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Case Study 2 Reviewing the Need for an Internal Audit Function |
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225 | (4) |
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Case Study 3 Optimising Risk Assurance in a Fast Growing Entity |
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229 | (4) |
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Case Study 4 Enhancing Risk Governance to Match Growth Ambitions |
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233 | (6) |
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Case Study 5 Optimising Risk Assurance in Line with Strategic Change |
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239 | (8) |
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Case Study 6 Sharpening and Simplifying Risk Governance and Assurance |
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247 | (8) |
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Case Study 7 A Deep Dive Risk Oversight for a Subsidiary |
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255 | (6) |
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Case Study 8 Spotlighting a Risk for Oversight and Assurance |
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261 | (6) |
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Case Study 9 Promoting Collective Risk Intelligence |
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267 | (6) |
Bibliography |
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273 | (8) |
Index |
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281 | |