BizCLIR

Author (s):

PricewaterhouseCoopers

Date:

2005

Abstract:

Corporate reforms and new regulatory requirements have been the driving force behind increased demands on executive leaders and board members to improve their corporate governance practices. Increasingly, leading-edge research, expert analysis, and the opinions of business executives indicate that when companies apply an integrated approach to governance, risk, and compliance (GRC) activities, they enhance their competitiveness and bottomline success.

Businesses have traditionally viewed GRC functions as separate, costly, and at times onerous endeavors that were nonetheless necessary for meeting regulatory requirements and reporting standards. But leading companies understand the rising imperative behind the public demand for better corporate governance and are devising creative strategies for leveraging their GRC systems to drive value as well as increase their compliance performance. Among the benefits are superior reputations, more streamlined compliance activities, lower costs of capital and insurance, and fewer incidents of noncompliance.

A new emphasis on governance functions then, whether spurred by political and public pressure or motivated by altruistic aims, can both protect and propel companies.

URL:

http://www.globalbestpractices.com/home/attachment.aspx?a=49f9cc3a-0620-4e55-be97-99ceb6783618;