Which line is responsible for independent assurance to the board?

• A. First Line
• B. Second Line
• C. Third Line
• D. Executive Management

Answer: (C)

Independent assurance to the board comes from the third line, the internal audit function. Internal audit operates independently from management and typically reports to the board or the audit committee, which preserves its objectivity. Its role is to evaluate the effectiveness of governance, risk management, and internal controls and to provide the board with an evidence-based assessment of the organization’s control environment and risk posture. The first line consists of operational management that owns and manages risks and implements controls in day-to-day activities. The second line includes risk management and compliance functions that set policies and oversight but do not provide independent assurance.