The Role of the Governance, Risk and Compliance Approach in Organizations

Authors:

Pages: 159-166

Abstract:

Public and private sector organizations operate in a highly regulated environment. Part of the decisions of their managers are related to maintaining the activities within the requirements of compliance with the external regulatory framework, the regulations of the superior authorities, and the limitations imposed by legislation. The purpose of this report is to show the essence of the management, risk and compliance approach and its application possibilities, justifying the main principles on which it is based. In addition, basic risk management functions and steps are covered, and good practices for risk and compliance management (GRC) in organizations are presented in an international aspect and in Bulgaria.

Keywords:

organizations; approach; risk; compliance; governance.

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