The Role of IT Governance Risk and Compliance (IT GRC) in Modern Organizations

Abstract

Abstract: The study delves into the intricacies of IT Governance, Risk, and Compliance (IT GRC) in modern organisations, emphasising its significance amidst evolving regulatory landscapes and increased reliance on IT systems. IT GRC is an integrated framework combining IT governance, risk management, and compliance, ensuring alignment with business goals, mitigating risks, and adhering to regulations. The paper outlines the theoretical foundation of IT GRC and highlights the challenges and gaps in the current literature, underscoring the need for further research and understanding. It discusses the components and importance of IT GRC, illustrating how effective implementation enhances operational efficiency and reduces vulnerability to threats. Key frameworks such as COBIT and ISO 27001 are examined for their roles in establishing IT GRC standards. The study also explores the challenges in implementing IT GRC systems, recommending best practices for successful integration. Emerging technologies and future trends in IT GRC are analysed, projecting the domain's evolution in response to dynamic business environments. The research underscores modern organisations' need to adopt a holistic and integrated approach to IT GRC, aligning it with broader corporate governance to achieve sustainable performance and compliance.