Governance and Risk Compliance (GRC) is a system of processes and controls to ensure that organizations meet their legal, regulatory, and ethical obligations. GRC helps organizations better understand their risks and liabilities, enabling them to manage and mitigate potential issues before they become significant problems. GRC involves setting standards of practice, creating policies and procedures, monitoring activities and taking corrective action when necessary. It also provides an opportunity to review risk management strategies, improve operational efficiency, and identify areas where potential new risks could arise. By implementing effective GRC systems, organizations can ensure they remain compliant and competitive in the current business landscape.