Risk in Focus 2026 / 2027
Risk in Focus helps Chief Audit Executives to understand the current risk landscape as they prepare their forthcoming audit plans. Read our Risk in Focus 2026 / 2027 report.
Assurance Matters - Episode 1
Why assurance matters to the board, with Karl George MBE.
Welcome to Assurance Matters, the Chartered IIA podcast exploring the latest thinking in internal audit, governance, risk and leadership.
In our debut episode, host Ann Brook, Chartered IIA’s Director of Knowledge and Learning, is joined by governance expert Karl George MBE to explore how boards use assurance to make better decisions and create long-term value. From understanding what good assurance looks like in practice to the role of independent challenge in effective governance, Karl shares insights from years of working with boards across a range of organisations.
The conversation also examines lessons from major governance failures, the dangers of groupthink and complacency, and the growing impact of AI on boardroom decision-making. For internal auditors, it's a practical look at how assurance can help organisations navigate risk, support strategy and provide confidence where it matters most.
Time: 27:30
Key points
01:39 – Why good board governance matters: How effective governance creates and protects value, supporting organisational performance rather than simply meeting compliance requirements.
03:52 – The three levels of assurance: Karl introduces comfort, confidence and conviction, explaining why boards need different levels of assurance depending on the risks involved.
08:54 – Why internal audit matters to boards: The importance of independent, objective assurance and the difference between assurance and reassurance.
10:39 – Making better decisions through evidence: How boards can use internal audit findings and triangulate information from different sources to strengthen decision-making.
12:10 – Learning from internal audit insights: An example from the housing sector illustrates how independent benchmarking can challenge assumptions and provide a broader perspective.
13:29 – Lessons from governance failures: What high-profile corporate scandals, including the Post Office Horizon scandal, reveal about transparency, accountability and effective challenge.
17:41 – Why boards sometimes fail to listen: Karl explores four dysfunctional board behaviours: groupthink, conflict, excessive operational involvement and passivity.
21:22 – The role of internal audit in preventing governance failures: Why effective audit committees, independent non-executive directors and reliable assurance are essential to good governance.
24:00 – AI and the challenges facing today's boards: Why artificial intelligence is a strategic governance issue, not simply a technical or data security concern.
25:35 – What effective boards do differently: The importance of aligning purpose, strategy, value and culture.
26:12 – Advice for internal auditors: Why internal audit should focus on strategy and risk, providing boards with forward-looking, unfiltered insight.
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