The strategy for governance, risk, and compliance (GRC) has become a fundamental issue for organizations in recent years. This importance is driven not only by the increasing regulatory compliance requirements but also by the need to manage risks related to threats such as cyberattacks, supplier incidents, or supply chain issues that can impact the organizational environment on a daily basis.
In Latin America, the significance of GRC has increased in recent years. The maturity of these disciplines can vary significantly between countries, sectors, and types of companies. For example, it is particularly important for publicly traded organizations, as shareholders and regulatory bodies are increasingly demanding the adoption of good governance practices.
On the other hand, there is also a lack of awareness, as some companies view GRC as merely a regulatory compliance requirement rather than a strategic decision-making improvement. Consequently, many organizations see this as a challenge. Finally, the growing demand for transparency and concerns about environmental and social issues are driving organizations to adopt a GRC perspective.