Banking · Risk Governance & Internal Audit
The 'three lines' approach in risk governance is used to clarify responsibility for risk ownership, oversight, and assurance. Under this framework, internal audit is generally regarded as:
- 1a substitute for board-level supervision
- 2the second line, because it sets business targets
- 3the first line, because it originates business risk directly
- 4the third line, providing independent assurance✓
Correct answer
the third line, providing independent assurance
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Preparing for Banking?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Want more practice questions on Risk Governance & Internal Audit?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Banking · Risk Governance & Internal Audit