The Three Lines of Corporate Defence

Description

The Three lines of Defence model provides a simple and intuitive guidance for the board as well as the audit committee, to monitor the effectiveness of the company’s risk management, internal control and internal audit. Like every model, the Three lines of Defence is a simplification of reality so that the underlying assumptions and the graphical representation of the model can be changed as necessary.

Course Topics

• Definition of the Three Lines of Defence
• Purpose of the Three Lines of Defence
• Structure of the Three Lines Defence
• Before the Three Lines: Risk Management oversight and strategy setting
• Coordinating the Three lines of Defence
• Implementation of the Three Lines of Defence and its limitations
• Examples of companies implementing the Three Lines of Defence
• Update of the Three Lines of Defence model in 2019 led by IIA
• Recommended practices

Learning Objectives

Following this course, the attendee will be able to understand the Three Lines of Defence model and how one may implement it into an organization. The participant will also gain knowledge on the updated Three Lines of Defence, which emerged in 2019 led by IIA.F

Target Audience

• Directors
• Compliance Officers
• CEO’s
• COO’s

Assessment Questions and Answers

In line with MFSA requirements, a short multiple-choice assessment will be provided by the trainer towards the end of the session. A Certificate of Attendance will be awarded to all students who attend the CPD (duration will be included on certificate). A Certificate of Achievement will be awarded to those who sit for the assessment and are successful (pass mark 60%).