Difference between revisions of "Governance, Risk and Compliance"
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* The [[Risk Management Function]] is the set of activities within an organization that are addressing Risk Management needs. | * The [[Risk Management Function]] is the set of activities within an organization that are addressing Risk Management needs. | ||
* [[Compliance]] is the respect for the internal and external compulsory rules that an organization must follow. | * [[Compliance]] is the respect for the internal and external compulsory rules that an organization must follow. | ||
| + | |||
| + | == See Also == | ||
| + | * [[BCBS D328]], [[Corporate Governance]] principles for banks | ||
[[Category:Business Continuity]] | [[Category:Business Continuity]] | ||
Latest revision as of 14:55, 4 October 2021
Definition
Governance, Risk and Compliance . GRC is the umbrella term covering an organization's approach across these three areas and the fulfillment of the respective requirements in a management systems context.
- Internal Governance refers to the controls and processes that make sure of the effectiveness, efficiency, economics, and ethics (and possibly environment sustainability) of an entity.
- The Risk Management Function is the set of activities within an organization that are addressing Risk Management needs.
- Compliance is the respect for the internal and external compulsory rules that an organization must follow.
See Also
- BCBS D328, Corporate Governance principles for banks
