Governance Risk And Compliance Strategy
A governance risk and compliance strategy fails most often by being too heavy rather than too light.
An organisation of eighty people adopts a framework designed for eight thousand. Committees are formed that meet twice and lapse. Registers are built that require more maintenance than anyone has time for. Within a year the whole apparatus is ignored, and the organisation is worse off than before, because now there is documented process that is visibly not followed.
Proportionate means starting with the handful of risks that could actually stop the organisation, controlling those properly, and adding structure only where a real gap shows.
Regulators generally expect arrangements appropriate to the size and nature of the business, rather than a copy of what a large listed company happens to do.
The ASIC publishes governance guidance. This is general information rather than legal advice, and obligations vary by state and territory.
See Sentrient’s GRC system and workplace compliance system.
5 Common Governance Risk And Compliance Challenges, And How To Overcome Them
Quick Answer: The five governance risk and compliance challenges that persist in Australian organisations are unclear ownership of the GRC process, no single framework, keeping pace with regulatory change, manual processes that cannot produce evidence, and a gap between stated culture and actual behaviour. None is a technology problem at root. Each is a decision […]
Surviving Uncertainty: Developing An Effective GRC Strategy
Compliance is effective when it is strategically aligned with changing laws and regulations. Obsolete controls increase governance and non-compliance risks. Resetting your governance, risk management, and compliance management based on business scenarios makes it easier to anticipate adversities, prevent them, recover from them, and proceed with confidence. Industries are constantly seeing regulatory overhauls, which can […]
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