Report

Beyond the Framework: Reflections on the Three Lines, Risk Taxonomies, and Emerging Challenges

Clarifying the Three Lines Model

Steps to create a unified risk taxonomy

A look at the future of risk management frameworks

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What's Inside

Many organizations have adopted enterprise risk management frameworks that use the Three Lines Model. However, confusion and misunderstanding surrounding that model persist, leading to improper implementation, cyber risk vulnerabilities, and loss of resources.

Furthermore, the “1.5 Line” model has become a new evolution of the Three Lines Model. This evolution acts as a practical response, embedding the risk experts in daily operations and reducing silos. This concept can work, but if done poorly, it may only increase risk and undermine accountability.

This ebook from PRMIA and AuditBoard reflects on the past year of enterprise risk management with an emphasis on changing models, the evolution of taxonomies, and the looming topic of cyber risk and resilience.

Download your copy of Beyond the Framework: Reflections on the Three Lines, Risk Taxonomies, and Emerging Challenges for further insights on:

Ongoing confusion about the Three Lines Model and the rise of the “1.5 Line” model.
Struggles with enterprise risk taxonomies — and actions you can take to work towards unified terminologies and systems.
The growing concern of cyber risk, with strategies for strengthening resilience.

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