Services
Governance, Risk, and Compliance
More than 200 people responded to our survey during the 2009 AGA Professional Development Conference in New Orleans. Important findings will be explored in a detailed report to be released by MorganFranklin and AGA in early 2010.
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With ongoing corporate scandals and market volatility, there is an ever-increasing focus on accountability, transparency, and results. Good decision making and effective performance measurement results rest upon the reliability and availability of good information. But timely and technically accurate information is useless if it is not meaningful to the end user. Now is the time to find innovative ways to drive performance and accountability while at the same time reducing overall compliance costs.
Solutions
To achieve integrated compliance, organizations put various efforts in place. MorganFranklin’s Performance-Aligned GRC ModelTM uses a blended approach to reduce duplication of efforts, repetitive activities, and information issues while aligning overall risk and compliance management efforts to corporate goals and objectives.
As a central theme, our model begins with an enterprise view of risk, governance, and goals, or Enterprise Risk Management (ERM). Our approach integrates the people, process, and technology components of ERM with operational, strategic, compliance, and financial activities to achieve the most cost-effective compliance efforts and eliminate wasted time and dollars. Taking cost out of your risk and compliance activities enables you to focus more on performance-enhancing activities relating to governance.
Our GRC diagnostic accomplishes the following
- Evaluate the maturity of existing GRC efforts against appropriate practices and standards.
- Assess the level of alignment between compliance and performance management efforts and make recommendations.
- Identify gaps and make recommendations on how to prioritize future GRC efforts and budgets.
- Assess the use of existing tools and evaluate the potential benefits of new GRC tools.
- Identify organization-specific success factors that are critical to long-term GRC sustainability.
Value
- Keep rampant "over-auditing" in check
- Cut compliance costs by linking controls across multiple requirements
- Free up resources to focus on performance enhancement
- Prevent detachment of mission, goals, and compliance
- Make more informed decisions about challenges and risks
- Redeploy savings and efficiencies toward driving performance and results
- Quickly assess effectiveness of multifunction processes
