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Investopedia explains 'Governance, Risk Management and Compliance - GRC'
GRC is a relatively new term, as goverance, risk mangement and compliance are all considered "new" categories of business management. While it may be difficult to assign a specific definition to GRC, since it can mean many different things to many different businesses, it is generally accepted that GRC is an approach taken by firms to ensure they act in accordance with the self-imposed guidelines set for each category.
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