A board assurance framework (BAF) is a structured approach for ensuring that boards get the right information, which is accurate and relevant, at the right time and with a level of assurance attributed to each source of data. A BAF is a single document that pulls together all relevant data pertaining to an organisation’s strategic goals, and the risks it faces. The BAF is more than another tool to measure and manage risks; it should be viewed as a framework by which the board can triangulate the information it receives and be assured of the veracity of data presented to it.
This guidance will help boards to build their own BAF, and once in place, to assess whether it continues to be effective. For a BAF to give confidence to the board that it is providing effective strategic leadership and oversight it, like other key board documents, must be regularly reviewed and amended accordingly.