The objectives of the three lines of defense is to define clear roles and responsibilities of various organizational units in the areas of risk management and internal controls.
The three lines of defense defines efficient and effective coordination of these organizational units to avoid gaps and duplications.
It's not enough that the various risk and control functions exist, the challenge is to assign specific roles and to coordinate effectively and efficiently among these groups so that there are neither gaps in controls nor unnecessary duplication of coverage.
Clear responsibilities must be defined so that each group of risk and control professionals understands the boundaries of their responsibilities and how their positions fit into the organization's overall risk and control structure.
The following video will show how you can apply the three lines of defense concept to governance, risk, and compliance.
To learn, how to apply the three lines of defense to Governance, Risk and Compliance, watch the following video: