For effective coordination of assurance coverage, the chief audit executive (CAE) should consider creating an assurance map. An assurance map provides a visual representation of the assurance activities across the organization, showing who is providing assurance, the areas covered, and the level of assurance provided.
This helps to identify gaps and overlaps in assurance coverage, enabling better coordination and optimization of resources. This approach is recommended by best practices in internal auditing as it aligns assurance activities with organizational risk and ensures comprehensive coverage.
References:
* The Institute of Internal Auditors (IIA) Practice Guide: Coordinating Risk Management and Assurance.
* IIA Standard 2050 - Coordination and Reliance