GRC, Compliance, and CSR are all highly-relevant and valuable topics for companies today. Often, these terms are not always clear and the distinction between them may not be easy to understand.How Are GRC and Compliance Related?
GRC stands for “Governance, Risk Management, and Compliance“, a generic term encompassing various leadership functions within a company.
Governance speaks to internal corporate leadership measures, which focus strongly on aligning and achieving corporate goals.Risk management pinpoints and analyzes risks that might jeopardize corporate goals.
Compliance addresses external regulations and laws that serve as obligatory guidelines for companies. However, companies supplement these external guidelines with additional internal policies and ethics standards.