CIMA P3 Syllabus A. Enterprise risk - Assurance mapping - Notes ^{4 / 10}

With increasing regulatory and compliance requirements as a consequence of various crises and business failures of recent years,

there is greater complexity in the risks that organisations face and the risk strategies that they implement.

Some of the crises in financial institutions in particular have raised questions about how well the board really understood the risks their organisation was taking.

• ASSURANCE can be defined as an objective examination of evidence for the purpose of providing an independent assessment on governance, risk management, and control processes for the organization.

• ASSURANCE MAPPING is a mechanism for linking assurances from various sources to the risks that threaten the achievement of an organisation's outcomes and objectives.