4. Many organizations implement assurance layering strategies to mitigate the risks they face to acceptable levels. One such strategy is the Three Lines of Defense model. a. Describe the first and second lines of defense included in this model. b. Explain what distinguishes the third line of defense from the first two. c. Discuss how the three lines of defense are coordinated. d. Identify the external sources of assurance that organizations use to augment their internal lines of defense.
4. Many organizations implement assurance layering strategies to mitigate the risks they face to acceptable levels. One such strategy is the Three Lines of Defense model. a. Describe the first and second lines of defense included in this model. b. Explain what distinguishes the third line of defense from the first two. c. Discuss how the three lines of defense are coordinated. d. Identify the external sources of assurance that organizations use to augment their internal lines of defense.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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4. Many organizations implement assurance layering strategies to mitigate the risks they face to acceptable levels. One such strategy is the Three Lines of Defense model.
a. Describe the first and second lines of defense included in this model.
b. Explain what distinguishes the third line of defense from the first two.
c. Discuss how the three lines of defense are coordinated.
d. Identify the external sources of assurance that organizations use to augment their internal lines of defense.
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VIEWStep 3: Explanation of distinguishes the third line of defense from the first two.
VIEWStep 4: Explanation of how three line of defense are coordinated
VIEWStep 5: Explanation of External source of Assurance with their internal lines of defense
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