The Gardener of Governance™ Award 2027 to Focus on Integrated Assurance Implementation
The Gardener of Governance™ Award 2027, sponsored by the Würth Group, will challenge University of Pretoria students to explore the practical implementation of Integrated Assurance. This initiative comes in response to a recent survey revealing that only 3% of capital-market-oriented companies have achieved a high level of GRC integration, highlighting a significant gap between theoretical models and real-world application. Internal audit and assurance professionals should note this focus on practical challenges and opportunities in GRC integration, as it directly impacts the effectiveness of assurance functions and the broader governance landscape.
Addressing the Integrated Assurance Gap
A recent Governance Business Breakfast at KPMG Deutschland highlighted a critical challenge in corporate governance: the vast majority of capital-market-oriented companies are not effectively applying a truly holistic Governance, Risk, and Compliance (GRC) or Integrated Assurance model. A survey of over 90 companies revealed that only 3% consider their GRC integration maturity as "very strong." This stark statistic underscores a significant disconnect between the recognized benefits of integrated assurance and its practical implementation within organizations. The findings suggest a widespread need for improvement and a clear intention among participating companies to address these shortcomings in the coming years.
The Gardener of Governance™ Award's Role
In response to this identified gap, The Gardener of Governance™ Award 2027, sponsored by the Würth Group, will task the 2026–27 University of Pretoria student cohort with exploring the theme: "Turning Integrated Assurance into Practice: Challenges and Opportunities." Under the mentorship of Prof. Kato Plant and supported by Dr. Klaus Moosmayer, these students will delve into the barriers hindering effective integrated assurance and propose solutions. This academic endeavor aims to foster a deeper understanding of the practicalities involved in aligning assurance functions, risk management, and governance frameworks.
Implications for Internal Audit and Assurance Professionals
For internal audit and assurance professionals, this initiative is highly relevant. The low adoption rate of integrated GRC models indicates that many organizations are still operating with siloed assurance functions, potentially leading to inefficiencies, redundancies, and gaps in coverage. The research undertaken by the University of Pretoria students will likely shed light on common obstacles, such as:
- Lack of clear ownership and accountability for integrated assurance.
- Insufficient technological infrastructure to support data integration and reporting.
- Cultural resistance to collaboration across different assurance providers.
- Challenges in defining and measuring the value of integrated assurance.
The insights generated from this award program could provide valuable guidance for internal audit functions seeking to enhance their role in promoting and implementing integrated assurance within their organizations. By understanding the challenges and opportunities, professionals can better advocate for and contribute to a more cohesive and effective governance ecosystem.
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