Business Pitch Dictionary by pitch.dog
Enterprise risk & controls · Working

Third line

Also called: third line of defence

ELI5

Independent assurance, commonly internal audit, over governance and controls.

Used in conversation

“The board will ask what happens if third line moves outside tolerance.”

Pitch context

You will see “Third line” in board papers, contracts, policies, risk registers and compliance reports when the discussion reaches enterprise risk & controls.

Why it matters: In enterprise risk & controls, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

Sources & evidence · 3

Direct term-level sources and supporting source families.