Build and maintain an internal IT audit function with maximum effectiveness and value Research an ACM or IEEE scholarly paper and do your literature review on the subject topic. You can access these...

As the compliance cost is increasing it is exceedingly difficult for the risk managers to find out a collaboration across 3 different lines of the defence which can help them to achieve the integrated risk management solution so that it can be easier for them to optimize the resources and the technology. In the risk management control is used to represent the first line of defence. The second line of defence is monitoring risk and control. The 3rd line is the assurance for independency throughout the internal audit function. The collaboration of all the 3 lines is not a new concept but it has not been incorporated on wide scale for the standard risk management practices. In an environment in which the risk is growing continuously and the limited resources are available it is important for the risk management leaders to find out an alignment further effort of the 3 lines of defence as it can help the organisation to achieve synergy and manage the risk effectively. To create the collaboration in the most effective manner internal audits can be used to define the methodology which can access the...