Home > Risk > Is there value in talking about GRC? – II

Is there value in talking about GRC? – II

December 30, 2009 Leave a comment Go to comments

The debate, primarily on LinkedIn, continues. I am interested in whether you agree with the breadth and depth of GRC as portrayed by the list of processes OCEG includes in GRC:

  • Governance
  • Strategy and Business Performance Management
  • Risk Management
  • Compliance
  • Internal Control
  • Corporate Security
  • Legal
  • Information Technology
  • Business Ethics
  • Sustainability and Corporate Social Responsibility
  • Quality Management
  • Human Capital and Culture
  • Audit and Assurance
  • Finance

Governance by itself is huge, and several commenters have used the same expression as me – that when you look at solutions, most vendors offer gRC products. In other words, very little is done for governance

Performance management is also huge, and you might consider the provision of reliable and timely information (e.g., through BI) as part of GRC.

I like to think of GRC as how a company is managed and directed to achieve the strategies and goals of the stakeholders, considering risks and staying within compliance boundaries of applicable laws and regulations.

  1. January 1, 2010 at 4:16 PM

    Of late I find that people use the term GRC when they don’t know what they’re talking about and are trying to tout to people who also don’t know what they’re talking about. Conference organisers do this all the time, so do small consultants and now I’m even seeing professional bodies do it. Very disappointing.

    I wrote an article in Risk Magazine in Australia in mid-2008 about this – The Great Risk Con which talks about the spin and motives behind users of the GRC term. My views on this still stand however I should point out that I still have a really strong bias towards strategic risk as I believe this is not well dealt with at all.

    This is the original article, a light read at 700 words: http://www.riskmanagementmagazine.com.au/articles/32/0C057532.asp?Type=125&Category=1241

  1. March 8, 2011 at 9:34 AM

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