Integrated Assurance: Risk Governance Beyond Boundaries

The need for assurance is never more acute than in times of turbulence and uncertainty. The events following the financial market crisis demonstrate the catastrophic consequence of risk taking that exceeds the board's appetite, and of not joining up risk intelligence for sound decision making. Boards and senior management alike consistently seek the 'one truth' about risk exposures and strength of controls but are continuing to grapple with the challenge.Much has been written about assurance, but mainly by those who provide it - the professionals such as internal auditors, accountants and information security technologists for the purpose of advancing their professional practices. Less is written for or by those in governance who need it for the effective discharge of their responsibilities. Regulations, as seen in the recent Walker Review, don't usually go beyond acknowledging its importance and reliance on those in the boardroom to get it right. Reliable assurance, which is an integral part of corporate governance, cannot be taken for granted; studies have consistently shown the link between weak corporate governance and corporate failures. It is time to rethink assurance beyond its usual functional boundaries, to focus on what matters to the business and how discussions in the board room can be better supported by more joined up assurance. This book will provide practical guidance for those who need that support and others for providing it.