Governance, Risk Management and Compliance (GRC)

Governance, risk management and compliance (GRC) is a management discipline that takes an integrated firm-wide approach to meeting internal guidelines set for each activity.

Corporate governance, enterprise risk management, and corporate compliance have been integral to managing companies for a long time. But increasing amounts of regulation, increasing demands for transparency and the exponential growth of third-party relationships have made a siloed approach to these activities costly, risky and untenable.

As an integrated approach, GRC is a relatively new management discipline. It can mean different things to different businesses, but integrating GRC processes typically aims to improve information gathering and quality, in order to operate more efficiently, and share information more effectively across the organization to avoid duplication of effort.