Combined Assurance and its Role in Organisational Performance: A Case Study on Risk Professionals’ Perspective in South Africa
Date
2023
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
University of the Witwatersrand, Johannesburg
Abstract
South Africa has been in the spotlight for its poor governance practices even though various laws, regulations, and frameworks are in place to guide how business should be conducted. Oversights committees, especially the board of directors are tasked with the governance of risk and achievement of organisational goals. Combined assurance is used as one of the tools to promote efficient risk management and mitigate against poor control environment and governance processes. Regardless of legislation and governance frameworks providing direction and tasking the three lines of defense with clear assurance responsibilities, the South
African public and private sectors are in shambles. This study aimed to understand combined assurance and its role on organisational performance from the second line of defense perspective.
The impact of combined assurance on organisational performance, as well as the influence of combined assurance drivers and the three lines of defence on organisational performance has been assessed in this study. The research project followed a quantitative research design. Data was collected through a structured survey questionnaire using Qualtrics. The survey questionnaire was distributed to risk professionals within South African boundaries in both the public and private sector via e-mail.44 participants (37%) of the targeted 120 risk professional have responded to the survey.
The study found that the alternative hypothesis being that effective combined assurance seems to contribute positively to organisational performance is accepted. In addition, the study found that the alternative hypothesis being that the drivers of combined assurance seem to be associated with positive organisational performance is accepted. The study further revealed that the alternative hypothesis being that effective three lines of defense contributes positively to organisational performance. The study contributed to the body of knowledge by providing the perspective of the second line of defence on combined assurance and how it impacts organisational performance.
Description
A research article submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfillment of the requirements for the degree of Master of Business Administration Johannesburg, 2023
Keywords
Combined Assurance, Three Lines of Defense, Risk Management, Corporate Governance, Organisational Performance, Senior Management, Board of Directors, UCTD
Citation
Kekana, Lebogang Nkhokhola. (2023). Combined Assurance and its Role in Organisational Performance: A Case Study on Risk Professionals’ Perspective in South Africa [Master’s dissertation, University of the Witwatersrand, Johannesburg]. WireDSpace.https://hdl.handle.net/10539/39994