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Details

  • Service: Advisory, Risk Consulting, Financial Risk Management, Internal Audit, Risk & Control Services, Topics, Managing Risk & Complexity
  • Type: Survey report
  • Date: 13/02/2012

Governance, Risk & Compliance Convergence

These research papers explore and track the extent to which companies are adopting a co-ordinated approach to their GRC activities.

The Convergence Evolution 

Since the financial crisis companies are increasing their focus on governance, risk and compliance issues, however, despite pressures for change, companies still remain at the fairly early stages of governance, risk and compliance (GRC) convergence.
The Convergence Evolution cover
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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.

 

Key insights

  • 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.
 

Managing risk and complexity

Managing risk and complexity
Managing risk and complexity is a challenge to most boards and business executives.

Risk Consulting

KPMG works with organisations to help them better understand their risk exposures and develop robust control systems and measures.