Governance Risk Compliances Process Model
Governance guidelines, which are the policies and rules of the game for a company that explain how the company will be run to best meet its obligations and pursue the business strategy, are set forth by senior management. The operational executives then carry out programs and put in place controls that ensure compliance, frequently with the help of consultants or auditors who are expert in applying GRC. Risk management results in the creation of mechanisms so that risks can be brought to the attention of senior managers who then take steps to reduce them.
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