Governance,
Risk Management and Compliance, also known as GRC, is an umbrella term for the
way organisations deal with three areas that help them achieve their
objectives. The main purpose of GRC as a business practice is to create a
synchronised approach to these areas, avoiding repetition of tasks and ensuring
that the approaches used are effective and efficient.
In
today’s competitive business landscape where change is the only constant,
organisations must be equipped to take well-informed risks, ensure company-wide
compliance, and execute good governance to enable them to grow and succeed.