irsan muharam and partners

Legal Compliance and Governance

Legal teams that implement a Governance Risk and Compliance (GRC) strategy, provide a foundation to mitigate risk and compliance challenges. Read on to learn what GRC is and how you can implement it in your organization.

When it comes to risk and compliance, the only constant is change. Every organization wants to be successful. To do so, they need to be prepared to manage evolving risks and an increasingly complex regulatory and compliance environment. This is why it is crucial for enterprises to have mechanisms in place that ensure that their legal team can work through new challenges successfully.

Governance, Risk, and Compliance refers to the set of procedures and processes that can help your business achieve its objectives, act with integrity, and address uncertainty. The goal of incorporating GRC is to ensure that your business follows good practices. Even though this isn’t a new concept, it has grown in importance . The reason behind this is the fact that with evolving technology and usage of big data, risks have become more numerous, more damaging, and more complex.

Today, GRC covers a wide range of disciplines, including compliance, internal audit, enterprise risk management, third-party risk management, and more. Even though each one of these disciplines has its own set of priorities, GRC professionals are now focusing on sharing data in order to get better results.