GRCP Exam Dumps | Why is it necessary to provide timely disclosures about the resolution of issues to relevant stakeholders?

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OCEG.GRCP.v2025-05-19.q41
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Question 4/41

Why is it necessary to provide timely disclosures about the resolution of issues to relevant stakeholders?

A. To escalate incidents for investigation and identify them as in-house or external.

B. To ensure protection of anonymity and non-retaliation for reporters.

C. To compound and accelerate the impact of favorable events.

D. To meet legal requirements and provide confidence to stakeholders about the process.

Correct Answer: D

Timely disclosures about the resolution of issues are necessary tocomply with legal requirementsand reassure stakeholdersthat the organization is effectively managing risks and issues.
* Purpose of Timely Disclosures:
* Compliance: Meet regulatory requirements for transparency and accountability.
* Stakeholder Confidence: Demonstrates the organization's commitment to addressing issues responsibly.
* Benefits:
* Builds trust with stakeholders, including employees, investors, and regulators.
* Reduces reputational risks associated with delayed or incomplete disclosures.
* Why Other Options Are Incorrect:
* A: Escalation is an internal process, not related to stakeholder disclosures.
* B: While anonymity is important, it is not the primary reason for disclosure.
* C: Disclosures do not accelerate favorable events; they address issue resolution.
References:
* ISO 37002 (Whistleblowing Management Systems): Discusses the importance of transparency in issue resolution.
* OCEG GRC Capability Model: Recommends timely disclosures for stakeholder confidence.

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