Governance, Risk Management and Compliance
- Governance: refers to the management processes through which organizations are run and monitored. The purpose of best governance practices is to ensure that available resources are rationally used and allocated, in such a way that the organization meets established goals.
- Risk Management: organizations should take all precautions so they can be prepared for facts or events that can harm or frustrate their objectives. Whenever possible, risks should be properly identified and addressed.
- Compliance: this term comes from the verb 'to comply' and means to act in compliance with norms, laws and organizational regulations, including aspects regarding previously established ethical standards and Conduct. Normally, this expression is used to measure the level of compliance with these determinations by employees and workers of organizations. Meeting excellent levels of compliance depends on the implantation of an efficient and ongoing control system.