Big4Guy

Building a business case for better governance risk and compliance in an organization is very important. For building a business case, it is important to first analyze processes and information systems. Questions like how information flows through the organization, how is the business requirements being met through technology and systems. Similarly issues like risks and controls and what is the role of organization personnel in governance need to be addressed.

After having done this initial analysis one can look at opportunities for simplification and standardization of processes. Governance risk and compliance GRC improves business performance as well as cost of compliance over time. Sarbanes Oxley act compliance and other statutory audit requirements also become comparitively easy with senior management focus on GRC. For this developing a entity specific framework which identifies opportunities and priority initiatives is important. The decision as to what is important and what gets left out will finally depend upon potential benefits of process and control changes.

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