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On “the Third Line of Defense”: The Role of Internal Audit in Banks
Abstract
The article provides an analysis of the ongoing regulatory changes in risk management in credit institutions. We describe internal audit’s new role, as stipulated in the “three lines of defense” model, and the challenges it is currently faced with. We also discuss the possibility of augmenting the model by adding a “fourth line” based on cooperation within the “internal audit – regulator – external audit” triangle.
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DOI: http://dx.doi.org/10.17951/h.2017.51.6.495
Date of publication: 2018-02-27 16:38:29
Date of submission: 2017-07-16 23:35:12
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