The Convergence Evolution was developed by KPMG with the Economist Intelligence Unit (EIU) and highlights how companies are adopting a coordinated approach to their GRC activities.
It explores the associated costs and challenges, and the benefits that companies can gain from better alignment of their risk and compliance functions within an overall governance framework.
The survey analyses whether there has been an emergence of GRC at the board level of big business and if it has become an integrated group that permeates all departments and functional levels within an organisation, so that risk is no longer an afterthought but rather top of the agenda.
- Companies are increasing their focus on governance, risk and compliance (GRC) issues.
- Despite pressure for change, most companies remain at a fairly early stage of GRC convergence.
- Cost of GRC activities is increasing for the vast majority of companies.