ABSTRACT
The integrated assurance is implemented at Level 3, at the group level, within a large international financial services group that is based in the UK. The implementation is focused on the need of the Group Executive to gain assurance over the organisation's collective compliance requirements and obligations from a group level perspective. The scope was later extended to other key areas of risks, as defined by the industry regulator, including market risk, credit risk, liquidity risk, insurance risk and operational risk. The development of integrated assurance reporting with a specific focus on compliance in this organisation was largely influenced by the proliferation of regulatory requirements combined with the need to demonstrate personal accountability under the UK financial services Approved Persons regime. The concept of mapping provided by an integrated assurance framework was recognised as a logical approach for meeting the assurance needs of the Group Executive.
