The question we're asking is: ‘how can an organisation work out whether it has the right assurance in the right place?’
With a growing market for externally provided assurance engagements, and many different ways of obtaining internal assurance, it can be tricky to know how to get the best value for an organisation.
We believe that understanding how to get the right assurance in the right place is important both for assurance providers (internal and external) and for senior management in any organisation.
This might be as simple a question as whether a small charity needs an audit or an independent examination, or it might be about coordinating a huge spread of different approaches to getting assurance over dozens of large, complex business units.
Assurance mapping: a vital governance and management tool is an introduction to a series of planned articles by Audit and Assurance Faculty experts. We’re starting with the basics, but we’ve got lots of ideas where to go from here, and we’re keen to get more people involved.
The final draft of Assurance mapping: a vital governance and management tool is available for comment and review online. Access it via this log in page and let us know what you think.
Here are some topics we’re considering working on:
Comment here – or respond to the poll in the draft article – to let us know what we’ve left out, or what might be most useful to you.
I for one would like to see this develop for smaller organisations. With the audit thresholds being raised I think there is the potential for real problems to start to arise in the sub £10m businesses (which is most of them!). Whilst audits are not always the answer lenders such as banks need some comfort that the accounts have some baring on reality