GOVERNANCE RISKMANAGEMENT COMPLIANCE

Growing regulatory environment, higher business complexity and increased focus on accountability have led enterprises to pursue a broad range of governance, risk and compliance initiatives across the organization.

However, in most companies these initiatives are still uncoordinated in an era when risks are interdependent and controls are shared. As a result, these initiatives get planned and managed in silos, which potentially increases the overall business risk for the organization. Therefore integrated and digitally supported GRC Programs should be a priority on the board agenda.
 

• Governance is the oversight role and the process by which companies manage and mitigate business risks

• Risk management enables an organization to evaluate all relevant business and regulatory risks and controls and monitor mitigation actions in a structured manner

• Compliance ensures that an organization has the processes and internal controls to meet the requirements imposed by governmental bodies, regulators, industry mandates or internal policies.