PATHOLOGY

Detailed explanation-1: -The three lines of defense model provides guidance for effective risk management and governance. Each of the three lines plays a distinct role with the University’s control environment.

Detailed explanation-2: -The ‘four lines of defence’ model is essentially the same as the ‘three lines of defence’ model, but adds in a fourth line: the external assurances provided by the external auditor, regulators and other external bodies.

Detailed explanation-3: -The three lines of defense represent an approach to providing structure around risk management and internal controls within an organization by defining roles and responsibilities in different areas and the relationship between those different areas.

Detailed explanation-4: -The second line of defense is managerial and is responsible for oversight of the doers. They also develop and implement risk management processes, policies and procedures. The third line of defense are the auditors, both internal and external, who independently assess and report on the work of the other two lines.