Coordinating Across the Three Lines of Defense
Over the past three years, Cameco’s Internal Audit function has focused on identifying, assessing and partnering with 2nd line of defense assurance providers with the goal to provide a more holistic view of risk and assurance activities, identifying redundancies and coverage gaps, leveraging business expertise and to better scope internal audit activities. The result was to focus on key risk areas that lacked sufficient coverage, in addition to building a partnership with Internal Audit as a trusted advisor. The focus of this session will be on the partnership created around Cameco’s enterprise risk of the management of capital projects; specifically:
- discuss the Three Lines of Defense model;
- walkthrough a practical example of the model in action at Cameco;
- look at the role of Internal Audit;
- discuss the benefits Cameco has gained by using the Three Lines of Defense model; and
- the pulse of the profession and things for your organization to consider.