ENTERPRISE RISK MANAGEMENT (ERM) AND GOVERNANCE -RISK MANAGEMENT AND COMPLIANCE(GRC)

摘要

The traditional approaches used to conduct risk management and to achieve sound governance and regulatory compliance are outdated to deal with today's wider global risk panorama. The latter is compounded by an increased set of laws and industry regulations. Most organizations conduct risk management in a highly insular, siloed manner. This results in wasteful duplication of governance efforts. This also creates gaps in coverage when individual business units lack an overall view of the enterprise risk panorama. As a result, they fail to see the multiplicity of interrelationship and interdependencies between risk management and governance programs.