‘’Supporting and enabling integrated and comprehensive assurance over governance, risk, and compliance’’
King III first introduced the concept of combined assurance and in that iteration brought formalisation to the processes for management and reporting of the organisation’s holistic and consolidated assurance efforts. In the subsequent King IV report, further suggestions and changes are proposed. Although nonprescriptive, King IV suggests a five level Combined Assurance Model wherein the lines of assurance (previously lines of defence) are differentiated by the level of risk ownership and the independence of assurance efforts/ providers. King III previously alluded to the concept of three lines of defence in the combined assurance model. The suggestion of five lines of assurance should neither be seen as final nor prescriptive as the application of combined assurance is under-pinned by organisational circumstances, resources, and intent. King IV strives to shift from the concept of lines of defence to lines of assurance as this brings realisation to the fact that risk can result in value realisation when embraced and appropriately exploited, whereas the concept of defence against risk suggests that risk is to be avoided always.
The concept of strategic combined assurance has been proposed in response to mainstream suggestions that combined assurance be based principally on the organisational risk registers. Strategic combined assurance aims to provide assurance on more than the identified risks and instead establish a framework for responding to and assuring any organisational matter, despite the time of its determination under the following three pillars of strategic combined assurance:
1. Governance-based assurance;
2. Risk-based assurance; and
3. Compliance-based assurance.
Who should attend?
- Risk management practitioners.
- Post graduate risk management students.
- Executives and Managers.
- Accounting officers.
- Committee members.
- Board members.
What you will learn:
This training provides structured and practical learning in the following knowledge areas:
1. Introduction to combined assurance and the transition from King III to King IV
2. From basic combined assurance to strategic combined assurance
3. Pillars of a strategic combined assurance programme
4. Combined assurance structure, roles & responsibilities
5. Standardising assurance tasks/ activities (Standard Assurance Matrix ©)
6. Unpacking governance-based assurance
7. Unpacking risk-based assurance
8. Unpacking compliance-based assurance
9. Practical strategic combined assurance planning, assessment, and optimisation
10. Maturity progression and competency standards (in terms of the attribute-based maturity index ©)
Dates: 23 November 2023
Time: 09h00 to 16h00
Cost: R5, 050 ex vat per person
The course delivery is subject to a minimum attendance. All attendees will receive a course certificate on completion and CPD points
Please contact [email protected] to book. Space is Limited. Please book as soon as possible to avoid disappointment.
By using a service provider to offer the courses, the JSE does not directly or indirectly endorse any product or service provided, or to be provided by the service provider.