IFoA SP9 Practice Questions - IFoA SP9 Enterprise Risk Management Specialist Principles Exam

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In the 'three lines of defence' model of risk governance, which function typically constitutes the SECOND line of defence?

Business units and operational management that own and take the risk Internal audit providing independent assurance to the board The risk management and compliance functions that oversee and challenge the first line External auditors appointed by shareholders

Correct Answer:

The risk management and compliance functions that oversee and challenge the first line

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