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Assurance mapping

Assurance mapping. by Matthew Oleniuk FMI Capital Chapter PD Day September 25, 2014. Introduction. What is assurance mapping? Possible processes – and a sample process . How assurance mapping can be used to support corporate functions. Assurance Mapping Basics.

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Assurance mapping

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  1. Assurance mapping by Matthew Oleniuk FMI Capital Chapter PDDay September 25, 2014

  2. Introduction • What is assurance mapping? • Possible processes – and a sample process. • How assurance mapping can be used to support corporate functions.

  3. Assurance Mapping Basics • An overview of assurance activities. • Discussion piece to feed monitoring, reviews, and quality assurance activities. • Should be easy to understand.

  4. Objective & Scope • What would you like to cover? • A general view of the organisation? • A deep dive of a specific function? • Process versus program versus risks? • DANGER: this is not an audit!

  5. The Organisation

  6. What Are The Other Assurance Providers? • Internal or External Audit • Departmental Internal Audit function, Office of the Auditor General (OAG), Office of the Comptroller General (OCG), Privacy Commissioner, etc. • Evaluation • Management Independent Assessment • MAF • Management Self-Assessment • Control Self-Assessments, Questionnaires, etc. • No assurance coverage

  7. Not All Assurance Coverage Is Created Equally • Rank assurance providers according to level of assurance gained in general • Determine frequency of assurance gained • Match specific assurance activities with general processes • Establish weightings and method to map activities

  8. Sample Assurance Map Legend

  9. Assurance Map – NO Future Audit Coverage

  10. Assurance Map – Including Future Audit Coverage

  11. Why so much red?? ?

  12. Complete Assurance Picture • Highest levels of assurance are sometimes highly focused • Assurance map is only one tool; complements other value-added activities • Cannot determine sufficient assurance coverage without knowing the whole picture

  13. Risk Map

  14. The Cherry on Top • Different assurance maps for different audiences: • Deputy Minister/Board/CEO/ • Partners • External stakeholders/shareholders

  15. The Great Communication Tool • Assurance mapping should be used: • by corporate review functions when prioritising activities; • to feed monitoring discussions with management; • as a continuous reference point to show where risks might pop up throughout a fixed cycle or period of time.

  16. Conclusion • Ultimately, assurance mapping gives stakeholders: • An overview of which risk areas are being covered and which are not; • A medium-term view of risk management in the organisation; • A clearer understanding of what assurance providers can do – and what they can’t.

  17. Questions? Matthew.Oleniuk@FortyKconsulting.com www.linkedin.com/in/matthewoleniuk

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