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What is Business Assurance?

28th November 2006

In his report on the Lloyd’s Register Group annual accounts, David Moorhouse neatly sums up the concept of business assurance:

Business assurance is essentially about using systems to improve operational effectiveness and manage risk. At its heart is the belief that, when applied well, management systems help to improve business performance in a quantifiable way. By understanding what really matters to organisations and their stakeholders, [organisations can] improve their systems, and businesses, simultaneously. Business assurance sets out to bridge the common gap between the management system and the business system. This reflects the true intent of quality, health, safety and security assurance standards and ensures they deliver the benefits they were designed to offer.

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