What is Governance, Risk and Compliance?

Governance, Risk Management and Compliance (GRC) is relatively new. It is the integrated approach which companies apply to establish strong governance within an organization by risk management and proven compliance.

Definitions

OCEG is a nonprofit organization that uniquely helps organizations drive Principled Performance® by enhancing corporate culture and integrating governance, risk management, and compliance processes by providing:

  • Guidelines and Standards
  • Community of Practice
  • Evaluation Criteria & Benchmarks

Governance is culture, policies, processes, laws, and institutions that define the manner in which companies are directed and managed.

Risk is the effect of uncertainty on business objectives; risk management is coordinated activities that direct, control, and manage an organization as it realizes opportunities and avoids negative impacts to business

Compliance is the act of adhering to and demonstrating adherence to external laws and regulations as well as to corporate policies and procedures.

Source: OCEG

Please contact us for more information about BWise and GRC.

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