How the integration of three major frameworks can enable risk management and compliance
LONDON, UNITED KINGDOM, November 22, 2023 /EINPresswire.com/ — In an article published on Business Reporter, compliance services and software provider Marlowe talks about how the future of Governance, Risk and Compliance (GRC) will increasingly be marked by digitisation, the integration of various risk domains, heightened regulatory complexity and a strong focus on sustainability and ethical business practices. The Open Compliance and Ethics Group (OCEG) defines GRC as “a capability to reliably achieve objectives, address uncertainty and act with integrity.” GRC is intertwined with SDG (Environmental, Social and Governance) goals and EHS (Environmental, Health and Safety) compliance in multiple ways. Organisations, for example, need robust GRC practices to ensure they meet legal obligations and accurately report ESG performance to stakeholders, while GRC frameworks help ensure that environmental goals and compliance are integrated into corporate governance.
As regulatory requirements are becoming more complex and dynamic, especially in sectors such as finance and healthcare, AI and machine learning will be increasingly relied on for making sure compliance can keep up with them. With the growing frequency and sophistication of cyber threats and data breaches, GRC will place greater emphasis on cyber-security risk management and data privacy compliance, while experts expect that organisations will have aligned their governance practices with sustainability goals and be tracking ESG performance as a fundamental aspect of their GRC strategies by 2030.
To learn more about the GRC trends that are to prevail in the next 5 years, read the article.
About Business Reporter
Business Reporter is an award-winning company producing supplements published in The Guardian and City AM, as well as content published on Business Reporter online hubs on Bloomberg.com, Independent.com, Business Insider Germany and Le Figaro, delivering news and analysis on issues affecting the international business community. It also hosts conferences, debates, breakfast meetings and exclusive summits.
About Marlowe PLC
Marlowe plc is the UK leader in business-critical services and software that assure safety and regulatory compliance, whilst managing risk for businesses across the country. The company’s two divisions, Governance, Risk & Compliance and Testing, Inspection & Certification, deliver a range of services and software focused on health & safety, HR & employment law, occupational health, fire safety & security and water & air hygiene – all of which are vital to the well-being of its customers’ operations and are invariably governed by stringent regulation.
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Originally published at https://www.einpresswire.com/article/669970732/business-reporter-navigating-the-complex-challenges-of-today-s-business-landscape
