Executives in Asia Pacific are growing more aware of the concept of Governance, Risk and Compliance (GRC) and a majority see it as a high priority. However, many remain uncertain about where to start and how best to harness technology.
- Defensive priorities (risk reduction and quicker risk identification) are still at the forefront of people’s thinking.
- Over 40 percent of respondents admitted they were not sure how to measure the benefits of a GRC programme.
- Many organisations with a regional footprint see GRC as a way to improve geographic consistency and visibility of risk across markets and units.
- Almost 30 percent of respondents were unable to estimate the overall costs of their organisation’s existing governance, risk and compliance activities.
- Most respondents (76 percent) expected expenditure on GRC to continue to rise over the next two to five years, although a significant number saw spending being reduced in the current or next financial year.