- GRC stands for Governance, Risk Management, and Compliance.
- It is a strategic framework that combines methodologies and activities aimed at ensuring an organization’s adherence to regulations, managing risks effectively, and aligning its operations with its overall objectives.
Governance
- Refers to the processes and structures used by organiztions to ensure their activities meet the needs of the business in a comprehensive and ethical manner.
- Governance involves setting the organization’s strategic objectives, ensuring resources are used effectively, and making decisions that guide the organization towards achieving its goals.
Risk Management
- Involves identifying, assessing, and mitigating risks that could objectives.
- Governance involves setting the organization’s strategic objectives, ensuring resources are used effectively, and making decisions that guide the organization towards achieving its goals.
Compliance
- Ensures that an organization adheres to external laws, regulations, guidelines, and internal policies.
- Compliance ensures that the organization is aware of and understands the laws, regulations, and standards applicable to its operations.
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