ComplianceOnline

White Paper: 5 Best Practices for Successfully Auditing GRC Programs

  • By: ComplianceOnline
  • Date: July 10, 2014
Abstract:

The news these days is filled with reports of one company or the other being fined for corporate misbehavior – evidence of a lack of governance, risk and compliance or GRC programs in these organizations. A number of regulatory agency citations in fact do highlight weak internal controls and failure of management and board to set the tone in terms of ethical conduct. It is not justenough to have a GRC program in place, however. Companies must ensure that it is in line with current regulatory requirements and takes into account the challenging nature of doing international business in volatile conditions. In order to make a GRC program effective,companies must carry out periodic audits of the program’s processes. This white paper explains what makes a GRC program effective and the five best practices that companies should follow to successfully audit their GRC programs.

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