The convergence of escalating cyber threats, intensified regulatory scrutiny, and high-profile legal actions has propelled Governance, Risk, and Compliance (GRC) to the forefront of organizational priorities. No longer a mere compliance function, GRC has evolved into a strategic imperative that underpins business resilience and sustainability.
- Cybersecurity Threats: High-profile data breaches, such as those suffered by SolarWinds and Uber, and the legal action that followed, have highlighted the devastating consequences of inadequate risk management.
- Heightened Regulatory Scrutiny: The SEC’s recent actions, including stricter disclosure requirements for cyber incidents, have underscored the importance of robust GRC practices.
- Legal Liability: CISOs and other cybersecurity leaders are increasingly held accountable for cybersecurity incidents, emphasizing the need for strong GRC frameworks that incorporate clearly defined cyber risk management processes.
Before diving into the specific incidents that have served as a cautionary tale to businesses, necessitating a focus on GRC, let’s define the term itself.
What is GRC?
Governance, Risk, and Compliance (GRC) is a strategic approach to…
