What is the three lines model and what is its purpose?

<p>The three lines model is a risk management approach to help organizations identify and manage risks effectively by creating three distinct lines of defense.</p>
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<p>Also known as the three lines of defense model, the three lines model was originally defined by the Institute of Internal Auditors. The IIA based the model on the idea that three lines of defense work together to provide structure around <a href=”https://www.techtarget.com/searchsecurity/definition/What-is-risk-management-and-why-is-it-important”>risk management</a> and internal governance. The model clearly defines roles, including oversight by a governing body, senior management and independent assurance.</p>
<p>This model applies to all organizations and aims to serve the following purposes:</p>
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<li>Adapt to meet organizational objectives.</li>
<li>Focus on risk management to meet and achieve objectives.</li>
<li>Understand the roles and responsibilities of all positions in the model and their relationship with one another.</li>
<li>Execute measures to align activities and objectives to the stakeholders’ interests.</li>
<li>Foster structured collaboration and communication across various lines of defense.</li>
</ul>
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<section class=”section main-article-chapter” data-menu-title=”Breaking down the three lines of defense (3LoD)”>
<h2 class=”section-title”><i class=”icon” data-icon=”1″></i>Breaking down the three lines of defense (3LoD)</h2>
<p>The three lines defense model is widely acknowledged as the governance model of risk. It uses a comprehensive approach to manage risk. Its implementation varies among industries and by company sizes.</p>
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