The Directors Education Series: The Risks of Combining ERM and Audit Committees

It may be tempting to combine the board's enterprise risk management (ERM) committee with the audit committee, as to do so cuts down on number of committees and the amount of time looking at risk. However, in the 'Three Lines of Defense' philosophy supported by the financial services industry, the roles and responsibilities of ERM versus audit are quite different. Plus, audit should independently review ERM; reporting the results to the same committee that provides ERM oversight would appear to impact some level of independence. In this condensed discussion, the risk of combining ERM and audit committees is reviewed and facts shared.

Topics Include:
  • ERM and Its Focus
  • Audit Committees and Their Focus
  • Critical Division of Risk Defense
  • The 3 Lines of Defense
  • Key Considerations

Subscribe to The Directors Education Series and provide your leaders with the guidance and tools needed to navigate the complexities of today's banking environment.

training features:

  • Includes Audio, Video and Powerpoint.
  • PDF Handouts
  • Discussion Questions
  • 20-25 minutes in length (Perfect to show at your monthly board meeting!)
This program is a breakout session from the Directors Education Series, which is a subscription based Library containing over 50 trainings specifically for your Board of Directors. For more information on the Directors Education Series click on or go to You can email questions to or talk with a representative by calling 1-800-831-0678.

Who Should Attend?

This program is recommended for your Executive staff including every member on your Board of Directors.