Big GRC trends for 2012
So what's on tap for the GRC industry in the upcoming year?
It's not a bad time to ask this question, though it is not easily answered. Every company and consultant will have a different answer, reflecting their own marketing needs. We can all agree that the market remains relatively vibrant, which is especially impressive given the still weak economic environment. As a discussion starter, let's take a look at a list compiled by Compliance 360:
-- Increasing threats from bounty hunters
-- Demonstrating compliance effectiveness is critical
-- The "G" in GRC becomes much more important
-- GRC is (finally) recognized as strategic to the CEO and board of directors
-- The rise of analytics
It's hard to argue with any of this, and the fourth item caught my attention.
"As governance becomes more sophisticated, boards are increasingly recognizing the value that GRC brings to the company. Nothing destroys share price faster than brand damage resulting from ethics charges, product-quality issues, deferred prosecution agreements, Corporate Integrity Agreements and formal investigations by authorities. Many CEOs and their boards are also beginning to recognize that a robust GRC program can be used to clear regulatory hurdles for strategic acquisitions and facilitate growth into new markets and geographies."
Is this really true? Are more boards getting this?
One could argue they are still stuck in self-defensive mindset. MF Global is a great example of a board that wasn't on the leading edge, but is it an exception or the rule?
- here's the list with additional commentary