Integration of governance, risk, and compliance (GRC) for Thai business sustainability

บทคัดย่อ

PURPOSES: To explain three important functions that an organization must have to ensure it’s security which are Governance (G),  Risk Management (R), and Compliance to Rules and Regulations (C),and to explain the framework to integrate the three functions in order to reduce redundancy, enhance interconnectivity, and finally raise efficiency of the organization. In addition, this paper also exemplifies the implementation of the Integrated GRC in a listed company in the MAI stock exchange with a certain degree of progress. METHODS: Review of literature and relevant articles as well as reliable experience from business sector for an analysis and compilation of the GRE model that could be used by business sector. RESULTS: A proposal of an integrated GRE with seven important steps for a successful implementation that organizations can practically adopt. THEORY/ POLICY IMPLICATIONS: The proposed model of integrate GRC could be applied for any business organization that could lead to a flexible and better response to the continual changes of the business environment. The organization will gain an important mechanism that can drive it to a sustainable growth.