Governance Risk Management And Compliance
Governance risk management and compliance are three distinct disciplines, and the acronym exists because organisations kept doing the same work three times over.
- Governance. Who decides, who oversees, and how decisions are recorded. Board and executive territory.
- Risk management. What could go wrong, how likely it is, and what you are doing about it.
- Compliance. The obligations you actually have to meet, and the evidence that you did.
Run separately, they duplicate. The risk register lists a hazard, the compliance register lists the obligation attached to it, and the board paper describes both again in different language. Three teams, three spreadsheets, three versions of the truth.
Brought together, one control can satisfy an obligation, treat a risk and produce board evidence at the same time. That is the whole argument.
Safe Work Australia covers officer due diligence, which sits squarely in this space. This is general information rather than legal advice.
See Sentrient’s GRC system and GRC articles.
5 Keys to Effective (Governance Risk And Compliance) GRC Management For Australian Businesses
Quick Answer: Effective GRC management rests on five practices, not on a platform. Start with an honest risk assessment rather than a purchase. Use compliance training that has been legally endorsed rather than merely informative. Build governance that creates accountability rather than process. Run risk management continuously rather than annually. Then choose software built for […]
What Is GRC? Governance, Risk and Compliance Explained
Quick Answer: What is GRC? GRC stands for governance, risk and compliance. Governance decides who is accountable and how decisions are made. Risk management identifies and controls what could go wrong. Compliance meets legal and regulatory obligations and keeps the evidence. Run together as one discipline off one set of records, they stop each pillar […]
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