ISOLTX-GRC-A: System Characteristics and Functionality

Standard Assurance Matrix (“SAM”)

To ensure that the combined assurance plan is standardised, informative and descriptive of assurance tasks of various role-players, an organisation should adopt a Standard Assurance Matrix (“SAM”). Although the concept is not commonly applied, it is useful in allowing a definition of the type of activity, its extent of assurance and the related reliability of that assurance task. Standard assurance tasks should be customised for an organisation but also have generic elements for completeness of cover. The extent of an assurance activity may be assessed as summary, moderate or detailed. The respective meanings of these terms are as follows:

Assurance Extent

Level of Assurance

Description of the Extent of the Assurance Activity

Summary

5

· An assurance process that is summative in nature and by implication relies on high-level review, analytics and sample-based verification.

· In most instances, these will bear a degree of estimation.

Moderate

3,4

· Although more detailed in nature, the procedure to some degree is not exhaustive in both scope and application.

Detailed

1, 2,

· A rigorous management process that is executed frequently and is mostly preventative in nature.

· The expected outcome in the definition of a combined assurance plan is that it be more descriptive of the assurance processes within the organisation and serve less as a tick-list with little implementation arising therefrom.

The reliability of an assurance activity may be assessed as low, medium or high. The respective meanings of these terms are as follows:

Assurance Reliability

Sampling Rate of Assurance Activity

Description of the Reliability of the Assurance Activity

Low

0 - 30%

· An assurance process that uses sample-based verification.

· The sample rate is between 1% and 50%.

· Although the review of the samples is detailing the result is a project based on the sample and therefor the reliability is low.

Medium

30 - 70%

· Although more detailed in nature, the procedure to some degree is not exhaustive in both scope and application.

· A sample rate is between 50% and 90% is assumed.

High

70 - 100%

· A rigorous process that is executed with a very high sample rate and is typically of a line management nature.

· A reliability of above 90% is achieved.

The specific assurance tasks that are included under the SAM for the organisation are listed and analysed below:

No

Task Type

Line of Assurance

Extent of Assurance

Reliability of Assurance

1

Executive Authority Oversight

5

Summary

Low

2

Auditor General Review

5

Summary

Low

3

Board (Incl. Sub Committee) oversight

5

Summary

Low

4

Third-party verification

4

Moderate

Medium

3

External Audit

4

Moderate

Medium

5

Peer reviews

4

Moderate

Medium

6

Internal Audit

4

Moderate

Medium

7

External Certification Audits (ISO)

4

Moderate

Medium

8

Exco Oversight

3

Moderate

Medium

9

Exco Sub-committee oversight

2

Detailed

Medium

10

Consequence management

2

Summary

Medium

12

Quality Assurance

3

Moderate

Medium

13

ICAO Compliance Audits (ICS)

3

Detailed

Medium

14

Quality Control

2

Detailed

High

16

Forensic Audit

2

Detailed

High

17

Regulatory (OHS) inspection

2

Detailed

High

18

Risk Assessments

2

Moderate

Medium

19

Desktop / Simulation testing

2

Summary

Medium

21

Supervisory

1

Detailed

High

The combined assurance plan will reflect varying types and combinations of assurance activities which can be referenced to the above matrix.

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