General Studies · Three Lines Model
Under the global standards for corporate governance and internal controls in banking, the 'Three Lines of Defense' model is a fundamental structural principle. Which of the following accurately describes the functions within this model?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The first line is financial accounting, the second line is business development, and the third line is corporate social responsibility.
- 2The first line is the Managing Director, the second line is the Board of Directors, and the third line is the General Body of Shareholders.
- 3The first line is the external statutory auditor, the second line is the banking regulator, and the third line is the credit rating agencies.
- 4The first line is the business units (risk ownership), the second line is risk oversight and compliance, and the third line is independent internal audit.✓
Correct answer
The first line is the business units (risk ownership), the second line is risk oversight and compliance, and the third line is independent internal audit.
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