Corporate Governance Assessment
When addressing the almost unimaginably complex challenges that organizations face as they do business, the very simple solution is to step back, get a good look at the challenges, and develop an integrated approach to managing risks and maximizing opportunities throughout the enterprise. The result is what the Open Compliance and Ethics Group calls Principled Performance®. The step of adopting an integrated approach to setting operational standards and making sure they’re met—by integrating activities that are frequently siloed and often duplicative or contradictory—enhances the corporation’s value by making its governance, risk management, and compliance (GRC) activities more efficient and effective.
The Corporate Governance Assessment will provide a detailed understanding of the current state of GRC practices within the organization. This is provided in a variety of formats to assist with understanding where the organization falls within industry best practices, and gives detailed insight into both leadership’s and the stakeholder community’s self-perceptions about its performance, as well as a detailed accountability against the reality of the organization’s actual practices.
At a minimum, a set of detailed recommendations for improvement with an explanatory background are provided for reference; optionally, a report outlining the entire assessment approach, insights, and background—inclusive of observations surrounding best practice considerations—can be provided for historical reference. The findings will also speak to the results of an assessment of the technology that supports the organization’s GRC activities.
Application of a GRC Capability ModelTM is an organization’s key to developing systems and processes, required controls around them, and audits that help ensure the organisation can adapt to address every business risk it faces. The bottom line: an integrated approach to governance, risk management, and compliance that is embedded in an organization’s day-to-day operations will maximize its performance and minimize its risk.
While a variety of maturity frameworks are available for use, such as King III and the GRC CMM, the Project Strategy Consulting Group recommends OCEG’s Burgundy Book as the standard for corporate GRC assessments.
Governmental and NGO governance assessments are also available. Please contact us for detailed information on how the Project Strategy Consulting Group can help with these unique situational needs.