23/24 MIAA Insight Series - Through the Audit Committee Lens - Board Assurance Framework

An efficient and effective Board Assurance Framework (BAF) is a fundamental component of good governance, providing a tool for the Board to identify and ensure that there is sufficient, continuous and reliable assurance, organisational stewardship and the management of the major risks to organisational success.

The principles of assurance frameworks have been in place for a number of years, and there has been a continued focus on ensuring the embeddedness of these processes and the extent they are used by the Board.

Whilst traditionally the BAF focused on risks, controls and assurances within the organisation, we are starting to see a wider focus across organisation boundaries and an increase in external risks to reflect the environment within which organisations are operating.

This Insight provides information to support audit committees in review of their organisation’s approach to the BAF.

This is the first in a series of briefings we will issue on the BAF this year.

Download the Board Assurance Framework