Business Assurance Framework Management

The objective of the  Business Assurance Framework Management processes is to establish an enterprise-wide business assurance policy framework and associated operational capabilities that integrates assurance and specific risk  disciplines, into a data-centric, pro-active assurance umbrella framework with the goal to continuously protect and improve financial integrity, enhance business value and customer experience.  <br/>Business Assurance  is a second level of defense (quality monitoring) across all value chains in the organization which have financial or customer impact and it can be interpreted as set of measures overtaken by an organization to assure that the processes and data flow are running as designed and to prevent any financial or reputational damage by not fulfilling the business, regulatory, legal, compliance and customer expectations. Furthermore, advanced Business Assurance processes focus on new opportunities to boost overall business performance. Business Assurance process helps ensure that the company delivers working services, compliant and efficient processes, and secure information throughout customer and product life cycles. Business Assurance process in transformation and change () provides the company with intelligence on change/ risk impact, end-to-end process transparency, risk ownership and establishes assurance methodologies and controls. Business Assurance also integrates risk  techniques across diverse business models, ecosystems and value chains. Business Assurance  is cross-functional and typically composed of active risk  processes such as Revenue and Cost Assurance , Fraud Management , Margin Assurance , Asset Assurance , Migration Assurance , Digital Transformation Assurance , Ecosystem Assurance , Regulatory Assurance  and Customer Experience Assurance .<br/><br/>This process was renamed in 24.0 old process name was Business Assurance Establishment<br/>