Advantage through governance
Advantage through governance
Governance, Compliance and Risk (GCR) is the collaboration of multiple business functions that delivers an enterprise wide integration of governance, risk, and compliance activities.
Governance is the set of activities, responsibilities, accountabilities and relationships that provide the capabilities that make the organisation more effective in meeting its objectives.
Compliance is the demonstration of adherence to laws, regulations, standards, frameworks, policies, procedures and architectures in accordance with the organisation's objectives.
Risk management is the identification, assessment, and reduction of risk to an acceptable level and implementing the right mechanisms to maintain that level of risk.
PreterLex provides a comprehensive approach to GCR Review and Remediation using our flexible five-step approach.
The PreterLex five-step approach
"Since profits are, in part, the reward for successful risk-taking in business, the purpose of internal control is to help manage and control risk appropriately rather than to eliminate it."
FINANCIAL REPORTING COUNCIL
Internal Control: Revised Guidance for Directors on the Combined Code (October 2005)