GRC

Governance, Risk, and Compliance (GRC)

Governance, Risk, and Compliance, commonly abbreviated as GRC, is an umbrella term that encompasses an organization's approach towards Governance, managing Risk, and ensuring Compliance with laws and regulations.

Governance

Governance refers to the set of policies, processes, and rules that drive corporate behavior and ensure the accountability of an organization's management.

Risk Management

Risk Management involves identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize, control, or mitigate the impact of unfortunate events.

Compliance

Compliance ensures that an organization adheres to external laws, regulations, and internal policies, reducing the risk of fines, penalties, and reputational damage.