Why It’s Important
This partnership is valuable for businesses that need to comply with Australian regulations. It is especially useful for educational institutions, local governments, and utilities, all of which face stringent GRC obligations. Demonstrating a commitment to GRC compliance enhances an enterprise’s reputation and builds trust among customers, investors, and other stakeholders.
IBRS predicts more organisations will seek external support in enhancing their efficiency while meeting their regulatory duties since non-compliance can lead to significant legal consequences, fines, and reputational damage. In addition, as the occurrence of data breaches and privacy concerns continues to escalate, GRC compliance becomes crucial in guaranteeing that the enterprise effectively safeguards sensitive data belonging to both customers and employees. These robust safeguarding measures are put in place to combat data breaches and prevent unauthorised access.
- IT managers and security professionals
- Enterprise architects
- Sales and marketing teams
- To overcome the complexity of ‘build-it-yourself’ GRC and ESG reporting, consider if GRC software tools may complement the organisation’s existing analytics platform through add-on solutions or dedicated products that make it easier to produce audit, accreditation, and governance risk management reports.