Governance, Risk and Compliance
A User and Data Management Practice that assists IT and Business with building an efficient, collaborative Governance, Risk, and Compliance (GRC) program.
- Governance is the culture, policies, processes, laws, and institutions that define the structure by which companies are directed and managed. Governance affects how the company addresses everything from long-term strategies to day-to-day operations.
- Risk is the effect of uncertainty on business objectives; risk management is the coordinated activities to direct and control an organisation to realise opportunities while managing negative events. Risk is neither good nor bad. Risk management is the process of uncovering what could go wrong for the purpose of making more things go right.
- Compliance is the act of adhering to, and demonstrating adherence to, external laws and regulations as well as corporate policies and procedures. So, compliance is what a company has to do, and controls the way they do it.
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