Can internal audit and compliance professionals better collaborate for the benefit of their organization? Why not? Audit and compliance—working together—are uniquely positioned to help the board and management understand the importance of an integrated approach to governance activities that enables wise resource use, prevents undesirable outcomes, and grasps advantages for achieving business objectives. It’s all good.
So when I wrote a few years ago on the concept of integrated governance, risk management, and compliance (GRC) and how governance provide the overarching framework for management activities in which audit, risk management, and compliance support, I have to admit to being taken aback by some of the heated reaction to GRC.
