Governance, Risk and Compliance

Growing regulatory environment, a “no mistakes” business climate, increasing business complexity and greater focus on accountability have led enterprises to pursue a broad range of governance, risk and compliance (GRC) initiatives across the organization.

In addition, GRC initiatives are inter-related. Companies are in a period of intense compliance audits as a result of mandates such as SOX. These audits have exposed process and control gaps in many financial processes, raising executive awareness of unforeseen risks. Businesses are now beginning to apply the same level of analytical rigor to other operational areas of the company to identify potential risks. In addition, organizations are taking a riskbased approach to rationalize the number of controls to be evaluated in order to reduce their overall cost of compliance.