GRC (Governance, Risk, and Compliance) integrates multiple disciplines to create a cohesive approach to managing an organization's overall governance, risk management, and compliance with regulations. The integrated disciplines include:
Audit and Assurance: Ensuring internal controls are effective and compliance with laws and policies.
Governance and Oversight: Establishing frameworks and policies to guide the organization.
Strategy and Performance Management: Aligning risk management and compliance with strategic objectives.
Quality and Conformance: Ensuring products/services meet regulatory and customer standards.
Information Privacy and Security: Protecting sensitive data and ensuring information security.
Compliance and Ethics: Adhering to legal requirements and promoting ethical behavior.
Risk and Decision Support: Identifying, assessing, and mitigating risks to support decision-making.
The integration of these disciplines ensures a comprehensive approach to managing risks and achieving organizational objectives.
References:
OCEG GRC Capability Model (Red Book)
ISO 31000:2018 - Risk management - Guidelines
COSO Enterprise Risk Management - Integrating with Strategy and Performance