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Volume 32, Issue 2

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Governance, Risk and Compliance (GRC)

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TermDefinition
Governance, Risk and Compliance (GRC)
GRC is the umbrella term covering an organization's approach across these three areas. Being closely related concerns, governance, risk and compliance activities are increasingly being integrated and aligned to some extent in order to avoid conflicts, wasteful overlaps and gaps. While interpreted differently in various organizations, GRC typically encompasses activities such as corporate governance, enterprise risk management (ERM) and corporate compliance with applicable laws and regulations.