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?
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Category: 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
U.S. Data Privacy Laws 101
The consumer data collection process is saturated with ethical and legal complexities. Yet, firms cannot get enough of this ‘digital fuel’ for their business and marketing initiatives. With new technologies and methods of personal data collection, consumer literacy about data privacy rights and risks challenges the so-called privacy paradox—consumers care about privacy but fail to… Continue reading U.S. Data Privacy Laws 101
Final Rule Announced for SEC Climate-related Disclosures: What’s New in 2024
The world economy has reached a fair turning point after several long-drawn discussions about the impact of climate-related risks on investments. Recently, in the first week of March, the U.S. Securities Exchange Commission (SEC) announced a final rule to enhance and standardize climate-related disclosure for investors. The new amendments to the SEC climate-related disclosure rule… Continue reading Final Rule Announced for SEC Climate-related Disclosures: What’s New in 2024