Businesses around the world are expressing a growing appetite to bring together the many and disparate Governance, Risk and Compliance (GRC) bodies which exist within today's typical corporate, claims a survey out today. According to "The Convergence Challenge", a survey undertaken by the Economist Intelligence Unit on behalf of KPMG International, 64 percent of businesses surveyed now see GRC convergence as a key priority for their business.
This new-found intent is driven by overall business complexity and a desire to reduce risk exposure. Respondent businesses also claim that the cost of GRC activities is now a significant one – and it looks set to rise further.
Against this backdrop, companies appear keen to rationalise the various strands of GRC activity which have sprung up in response to the regulatory burden of recent years. However, the survey shows that only 11 percent have so far managed this task.
See full Press Release.
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