TOP RISK AND COMPLIANCE SOLUTION COMPANIES
What is compliance risk?
Compliance risk is an organization’s potential exposure to legal penalties, financial forfeiture and material loss, resulting from its failure to act in accordance with industry laws and regulations, internal policies or prescribed best practices. Compliance risk is also known as integrity risk.
Organizations of all types and sizes are exposed to compliance risk, whether they are public or private entities, for-profit or nonprofit, state or federal. An organization’s failure to comply with applicable laws and regulations can affect its revenue, which can lead to loss of reputation, business opportunities and valuation.
The difference between compliance and risk management
Undoubtedly, compliance and risk management are closely aligned. Compliance, in association with established industry regulations, ensures organizations stay protected from unique risks. Whereas risk management helps protect organizations from risks that could lead to non-compliance — which is a risk in itself. Let’s take a closer look at how compliance and risk management roles differ within an organization.
GRC technology
Governance, risk management, and compliance (GRC) are three of the major tenets of effective cybersecurity program management. Together, they enable an organization to effectively meet compliance requirements, manage risk, and standardize across the enterprise.
RISK AND COMPLIANCE SOLUTION COMPANIES:
In order to help businesses who struggle to adopt and implement risk and compliance solutions, the current edition of CFO Tech Outlook brings you “Top Risk and Compliance Solution Providers ” The solutions and services offered by these companies help improve business performance by reducing risk and ensuring compliance.
