Governance, Risk, and Compliance Management

Governance, Risk Management, and Compliance (GRC) are three pillars that work together for the purpose of assuring that an organization meets its objectives. They will be explored and their definition will be provided in detail in this article. Governance is the combination of processes established and executed by the board of directors that are reflected in the organization’s structure and how it is managed and led toward achieving goals. Risk management is predicting and managing risks that could hinder the organization to achieve its objectives. Compliance with the company’s policies and procedures, laws and regulations, strong and efficient governance is considered key to an organization’s success.