The GRC (governance, risk and compliance) market is driven by three factors: government regulation such as Sarbanes-Oxley, industry compliance such as PCI DSS 1.2 and growing numbers of data security breaches and Internet acceptable usage violations in the workplace. $14BN a year is spent in the US alone on corporate-governance-related IT spending1.
Are large internally-focused GRC systems the solution for improving risk and compliance? Or should we go outside the organization to look for risks we’ve never thought about and discover new links and interdependencies2.
This article introduces a practical approach that will help the CISOs/CSOs in any sized business unit successfully improve compliance and reduce information value at risk. We call this approach “The Tao of GRC” and base it on 3 principles.
1. Adopt a standard language of threats
2. Learn to speak the language fluently
3. Go green – recycle your risk and compliance