In today’s regulatory environment, organizations are turning to Combined Assurance to streamline processes, ensure compliance, and enhance governance. The Attestation Pyramid is a framework central to this strategy, helping structure and prioritize assurance efforts.
What is Combined Assurance?
Combined Assurance: An approach that coordinates assurance activities from different providers, including internal audit, risk management, compliance, and external audit. It aims to eliminate redundancies and provide a cohesive risk view.
The Attestation Pyramid Overview
Attestation Pyramid: A hierarchical model organizing assurance activities into three levels: Strategic, Tactical, and Operational. This structure ensures comprehensive coverage and prioritization of assurance efforts.
Strategic Level
Provides an overarching view of assurance activities aligned with organizational objectives.
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Key Activities:
– Board Oversight
– Governance Structures
– Policy Development
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Outcomes
– Alignment with strategic objectives
– Enhanced oversight and accountability
– Strategic assurance planning
Tactical Level
Coordinates and manages assurance activities to ensure effective implementation.
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Key Activities:
– Risk Management
– Internal Audit
– Compliance Monitoring
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Outcomes
– Effective coordination of activities
– Targeted assurance efforts
– Comprehensive risk understanding
Operational Level
Executes detailed assurance activities to test controls and ensure compliance.
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Key Activities:
– Control Testing
– Process Reviews
– Data Analytics
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Outcomes
– Detailed control effectiveness insights
– Identification of weaknesses
– Enhanced operational efficiency
Benefits of the Attestation Pyramid
Benefits:
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Holistic Risk Management
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Enhanced Efficiency
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Improved Communication
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Increased Stakeholder Confidence
Implementing the Pyramid
Implementation Steps:
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Establish Clear Governance
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Align with Strategic Objectives
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Coordinate Assurance Providers
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Utilize Technology
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Continuous Improvement
Conclusion
The Attestation Pyramid provides a structured approach to organizing assurance activities within a Combined Assurance framework. This model enhances risk management, efficiency, and stakeholder confidence
