Audit news

What are the three lines of defence?

Debunking terminology: the three lines of defence in internal audit

As internal auditors, we can be guilty of using our own specialist terminology. To those outside the field can be seen as technical jargon. Over a series of short articles we’re be attempting to debunk one of the most important audit ideas – the three lines of defence. 

The first line of defence

As part of a series debunking internal audit terminology, we're looking at the three lines of defence. 

The third line defence is defined by the Chartered Institute of Internal Auditors defines the first line of defence as "functions that own and manage risk". Ensuring that the first line is functioning effectively and efficiently is vital to prevent or reduce the likelihood that things will go wrong for an organisation.

Veritau is expanding

Redcar & Cleveland Borough Council and Middlesbrough Council are set to join the Veritau group. 

Veritau was established in 2009, initially as a partnership between City of York Council and North Yorkshire County Council, and expanded in 2012 when a number of district councils joined the group. Veritau now provides internal audit, counter fraud and information governance services to over 500 public sector clients in the region.

Saltburn pier

Risk in focus

Identifying, assessing and managing risks to objectives is vital for the success of any organisation. The speed of change within organisations and in the wider external environment means organisations need to be alert to the most significant risks they face.

The Institute of Internal Auditors has recently completed its annual business risk survey of heads of internal audit. Whilst this survey focuses on businesses the results are applicable to organisations across all sectors.

Auditing with data analytics and IDEA

The concept of auditing can be traced back to early civilisations. In ancient Egypt, cargo being brought off ships was independently checked and reported to the authorities. Over time the internal audit function has adapted and evolved as a result of changes in the size and functions of organisations, legislation and the implementation of new technologies.

Veritau to launch Cyber Security Awareness Week

Veritau will shortly be launching its Cyber Security Awareness Week. The campaign will highlight the risks and challenges organisations face in the digital age. With several high profile cyber incidents in the news recently we all need to be alert to the risks we face.

The fraud team have been working with our Communications Officer to prepare messages and infographics for the week. Cyber Security Awareness Week will be from 9 - 13 September.

Cyber Security Awareness Week

Sign up for the Veritau Alerts Click subscribe to receive the monthly bulletin