The IIA released its Three Lines Model in July 2020 as an update to the highly-regarded Three Lines of Defence Model promulgated in 2013. Many practitioners either love it or hate it, while others (including this author) vacillate between the two states.
Recognising that data is capital, many organisations today are incentivised to collecting and correctly interpreting a vast amount of data to make better decisions across all levels, with the key objective of gaining significant competitive advantage over their competitors. However, with great data comes great risks. Other than data corruption or data compliance risks, there are many lesser-known data risks. In this issue, we're pleased to share an overview of the different types of data risks as well as an outline on the Data Risk Management Framework.