GRC, Governance, Risk, and Compliance refers to a strategy employed by large organisations to help manage the business’s overall governance, enterprise risk management and corporate compliance to regulations. It brings in a much-needed structure to align the different functions of the business with the company objectives while effectively managing risk and meeting compliance requirements.
When asked how the CXO’s view GRC in their organisation, 71.43% people admitted that it is an important aspect for running an ethical organisation, 21.43% view it is as a source of business value while a few also think of it as a tactical remediation measure. An effective GRC strategy is one that enables the right efficiencies, effective information sharing, and reporting mechanisms. But first, here’s a quick look at Governance, Risk Management, and Compliance individually.
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