‘Femi Asu
A global, non-profit think tank, Open Compliance and Ethics Group, has stressed the need for companies to have a strong framework for governance, risk management and compliance.
According to the OCEG, one of the major challenges facing companies is the absence of a strong GRC framework that serves to support reliable achievement of organisational objectives, with a risk focus, while acting with integrity.
It said, “This is especially so in the face of ever-increasing uncertainties, laws, multiplying regulations, industry standards and more.
“GRC is the solution to this challenge. Principled performance is a GRC mechanism that helps you reliably achieve your objectives, address uncertainties, while acting with integrity.”
The OCEG said in a statement that forward-looking organisations must adopt a GRC capacity model that integrates the various sub-disciplines of governance, risk, audit, compliance, and ethics/culture and Information Technology into a unified framework.
The think tank, which seeks to inform, empower and advance its over 70,000 members, said its GRC workshop “is geared towards positioning participating organisations and individual professionals for global competitive advantage.”
According to the statement, the goal is to enable professionals and organisations to break through traditional information silos with the GRC; start their GRC journey with a sound framework; collaborate for value on their transformation investments using GRC; achieve effective internal handshake on their GRC functions, and leverage integration for real GRC value.
It said the workshop would also enable them to maximise their return on investments; align strategies for success using the GRC principled performance; improve responsiveness to risk and opportunities; and optimise return and values from investments.
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