Who has ultimate accountability (plenary accountability) for the governance, management, and assurance of performance, risk, and compliance in the Lines of Accountability Model?
A.
The Fifth Line, or the Governing Authority (Board).
B.
The Second Line, or the individuals and teams that establish performance, risk, and compliance programs.
C.
The First Line, or the individuals and teams involved in operational activities.
D.
The Third Line, or the individuals and teams that provide assurance.
The Fifth Line, or the Governing Authority (Board), holds ultimate accountability for the governance, management, and assurance of performance, risk, and compliance.
Role of the Governing Authority:
Sets the tone at the top by defining the mission, vision, and strategic objectives.
Ensures proper oversight and accountability across all lines.
Approves and monitors the effectiveness of risk management, performance, and compliance initiatives.
Why Other Options Are Incorrect:
B: The Second Line implements performance, risk, and compliance programs but does not have ultimate accountability.
C: The First Line executes operational activities but does not govern or manage assurance.
D: The Third Line provides independent assurance but is not accountable for governance and management.
[References:, COSO ERM Framework: Highlights the Governing Authority’s accountability for enterprise risk and compliance., OCEG GRC Capability Model: Describes the plenary accountability of the Fifth Line., , , ]
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