Ensuring compliance involves staying up to date with the latest legislation and acts, public notices, keeping informed of any regulatory changes and managing any emerging risks. Having to handle this range of activities highlights the importance of Governance, Risk and Compliance (GRC) management and is essential for organizations to achieve strategic objectives. Applying the right procedures and systems in order to effectively manage risks is crucial to ensuring organizations are maintaining their compliance. This begins with getting the right team together and implementing sufficient training programs and mechanisms, to ensure that any future risks will be managed accordingly and effectively.
To remain agile, resilient and competitive, it is vital that companies understand and manage risk. To do this successfully, they need to set in place the systems and processes to minimize negative outcomes and maximize the positive ones. By aligning GRC management strategies with internationally recognized standards (including ISO 9001, ISO 18001 and ISO 19600), it is much easier to implement strategic risk management procedures consistently across the organization.
Training is the foundation of good management practices, and is the key to effective risk awareness, analysis and management. As today’s supply chains, customer and shareholder expectations, evolving technology and regulatory compliance are vastly interconnected, all need to be actively maintained to achieve the best outcomes. This makes risk management training and planning courses, implementation strategies and communication practices increasingly necessary tools for all organizations.
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