What's New in the GRC World?

Several survey and research reports published last month underscore the importance of risk and compliance management at banks and corporations alike: Fitch Ratings found regulatory fines to be the overriding theme in news reports centered on corporate-governance failings by banks worldwide. “We believe this reflects both the prevalence of regulatory fines and the media’s propensity to report on bank fines, often headlining the amounts,” Fitch Ratings observed.

This year has been extremely challenging for businesses around the world. The already inundated governance, risk, and compliance (GRC) teams at organizations are further stretched thin as they try to keep up with the rapidly evolving business, cyber and ESG risks, the ever-evolving regulatory landscape, and escalating geopolitical crises.

For risk managers, risk mapping, which is described as the firm’s way to identify and document their important business services, continues to be one of the most important activities. However, there is a growing focus on developing specific risk assessment exercises. “This highlights a trend to continue assessing organizations’ resilience in a context of transition towards more sustainability in a digital world,” the report said. https://www.metricstream.com/blog/grc-roundup-august-2022-whats-new-grc.html

The already inundated governance, risk, and compliance (GRC) teams at organizations are further stretched thin as they try to keep up with the rapidly evolving business, cyber and ESG risks, the ever-evolving regulatory landscape, and escalating geopolitical crises.

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