Governance, risk management, and compliance (GRC) are the core parts of every organization. Yet, they share a common feature: they form a thick fog, limiting visibility, making paths harder to navigate safely, and increasing the threat of taking an incorrect turn. For several organizations, GRC analytics powered by artificial intelligence (AI) operates as a high-beam… Continue reading Impact of AI-Powered GRC Analytics on Businesses: From Data to Decision
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Category: GRC
Automated Risk Assessment: Monitor Your Business Risks 24*7
Modern businesses face many risks, from cyber threats to financial crises, and risk management is not merely important; it is critical to staying alive in this competitive environment. According to a study by AICPA and NC State University, 65% of senior finance leaders agree that the volume and complexity of corporate risks have changed “mostly”… Continue reading Automated Risk Assessment: Monitor Your Business Risks 24*7
GRC 101: What is GRC?
Data privacy constantly changes, reflecting our growing unease with how personal data is handled. Imagine every bit of your data—your shopping habits, medical history, even your location at any given moment—being protected under a thick blanket of laws. That’s the goal, but achieving it isn’t simple. In the U.S., no single federal law governs data… Continue reading GRC 101: What is GRC?
The Good & the Nasty: Influence of AI in Politics & 2024 U.S. Elections
Technologies have always had an impact on political campaigns. At the turn of the 21st century, the use of the Internet for broader reach and cost-effective campaigns opened doors to marketing on social media and digital platforms. The new-age tools of information sharing empower voters and audiences with an independent voice and political viewpoints to… Continue reading The Good & the Nasty: Influence of AI in Politics & 2024 U.S. Elections
Understanding ESG Materiality & its Importance in Sustainability Reporting
In a recent PwC survey, 76% of consumers said they would cease associating with brands and companies that treat employees, communities, and the environment poorly. Growing consumer awareness of environmental, social, and governance (ESG) components demands more actions towards ESG materiality assessments from businesses. ESG materiality assessments are iterative and unique to every business and… Continue reading Understanding ESG Materiality & its Importance in Sustainability Reporting
AI Use Cases in GRC: An Explorative Guide
If you know the line, “Stories written before space travel but about space travel,” from Philip K Dick’s novel, Do Androids Dream of Electric Sheep (adapted to Ridley Scott’s Blade Runner), you’d agree that it resonates with how we feel about recent AI breakthroughs (both imagined and real). Unlike the theme of this cult classic—technological… Continue reading AI Use Cases in GRC: An Explorative Guide
New Global Internal Audit Standards in 2024
Achieving a meaningful impact through internal audit is within reach when you focus on what truly matters to stakeholders. By leveraging data, experience, and comparative knowledge, you can develop a valuable perspective on your findings. It’s then crucial to communicate this perspective effectively. In January 2024, the Institute of Internal Auditors (IIA) introduced the Global… Continue reading New Global Internal Audit Standards in 2024
Role of Regulatory Technology in Simplifying Compliance Processes
Did you know that despite rapid technological advancements, approximately 60% of GRC users still rely on manual spreadsheet-based compliance management? It’s a real hassle! For organizations seeking to eliminate such inefficient processes, Regulatory technology is helping companies navigate the often-confusing regulatory compliance model. It’s like having a GPS for your business, showing you the way, and… Continue reading Role of Regulatory Technology in Simplifying Compliance Processes
FTC Rules Protect Against GenAI-led Impersonations: Rule Finalizes to Protect Businesses, and Government from Scams
February 15, 2024, the Federal Trade Commission (FTC) finalized the rules to address AI-enabled impersonation scams to protect consumers, government, and business entities. Generative AI (GenAI) adoption spiked in 2022 with the release of OpenAI’s large language model (LLM)-based tool. The tool’s popularity and widespread adoption across businesses replaced many white-collar positions with AI,… Continue reading FTC Rules Protect Against GenAI-led Impersonations: Rule Finalizes to Protect Businesses, and Government from Scams
Bank Regulation and Supervision Increases in 2024: Regulators Announce New Proposals
2023 was indeed a poster year for disruptions. Evolving bank regulations and supervision will drive banking and financial services firms to tread consciously in 2024. Let’s explore the latest banking and supervisory regulations impacting banking and financial institutions’ governance, risk, and compliance (GRC) agenda this year. Basel III Endgame: Post the 2009 financial catastrophe,… Continue reading Bank Regulation and Supervision Increases in 2024: Regulators Announce New Proposals