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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 by Matthew Oleniuk FMI Capital Chapter PDDay 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 • An overview of assurance activities. • Discussion piece to feed monitoring, reviews, and quality assurance activities. • Should be easy to understand.
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!
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
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
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
The Cherry on Top • Different assurance maps for different audiences: • Deputy Minister/Board/CEO/ • Partners • External stakeholders/shareholders
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.
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.
Questions? Matthew.Oleniuk@FortyKconsulting.com www.linkedin.com/in/matthewoleniuk