This webcast aired on May 2, 2019.
CPE Credit(s): 1

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Internal audit is a profession that provides assurance that objectives are being met for the organizations that it serves. However, it is not the only assurance provider performing audits and requesting information and often organizations are fatigued by different departments requesting the same information and reporting the same results. Enterprise Risk Management is viewed by many organizations as an assurance provider that Internal Audit can leverage off of to reduce audit fatigue and increases the chances that an organization’s objectives will be met.

During this presentation we will walk through the definition and role of Enterprise Risk Management and Internal Audit. We will also discuss how different organizations view the Enterprise Risk Management effort as a first or second line of defense. We will then explore the different types of strategies for Combined Assurance reliance and discuss each type of reliance. The goal of the presentation is for each participant to walk away with a basic understanding of the key concepts that are discussed and then take those concepts and think of ways to apply them to their current settings.

Learning Objectives:

  • Understand the roles of Enterprise Risk Management & Internal Audit
  • Understand the concept of Combined Assurance
  • Understand a strategy of reliance

Steven Zapolski, CIA
Senior Market Development Consultant, Wolters Kluwer TeamMate