GRC glossary
Essential definitions risk and compliance leaders need to know.

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Risk
Read more: RiskWhat is risk? Risk is the effect of uncertainty on an organization’s objectives. In simple terms, risk is what could happen that may affect whether an organization achieves what it set out to do. In governance, risk, and compliance (GRC), risk matters because decisions are rarely made with perfect certainty. Organizations need a clear way…
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Third party risk management
Read more: Third party risk managementThird party risk management is the process of identifying, assessing, monitoring, and managing the risks that come from working with external organizations. These third parties can include suppliers, vendors, contractors, service providers, consultants, technology providers, outsourced partners, and other external relationships. In governance, risk, and compliance (GRC), third party risk management matters because organizations are…
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Healthcare compliance and HIPPA
Read more: Healthcare compliance and HIPPAWhat is healthcare compliance and HIPAA? Healthcare compliance is the process of meeting the laws, regulations, standards, policies, ethical rules, and patient safety requirements that apply to healthcare organizations. HIPAA, often misspelled as HIPPA, is 1 of the most important healthcare compliance laws in the United States because it sets rules for protecting health information…
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Audit management
Read more: Audit managementWhat is audit management? Audit management is the process of planning, coordinating, executing, documenting, reporting, and tracking audits from start to finish. It gives organizations a structured way to decide what should be audited, why it matters, what evidence is needed, who owns findings, and how remediation is tracked through to closure. In governance, risk,…
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General Data Protection Regulation (GDPR) and Data Privacy management
Read more: General Data Protection Regulation (GDPR) and Data Privacy managementWhat is GDPR and Data Privacy management? The General Data Protection Regulation (GDPR) is the EU data protection law that governs how organizations collect, use, store, share, protect, and delete personal data. Data privacy management is the ongoing process organizations use to meet GDPR and other privacy obligations in practice. In governance, risk, and compliance…
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Compliance audit
Read more: Compliance auditWhat is a compliance audit? A compliance audit is a structured review that checks whether an organization is meeting specific laws, regulations, standards, policies, contractual requirements, or internal controls. It helps confirm whether compliance requirements are understood, owned, evidenced, and operating in practice. In governance, risk, and compliance (GRC), a compliance audit matters because it…
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Compliance reporting
Read more: Compliance reportingWhat is compliance reporting? Compliance reporting is the process of collecting, analyzing, and presenting information that shows whether an organization is meeting its compliance obligations. It helps leadership, boards, auditors, regulators, and internal stakeholders understand compliance status, control effectiveness, issues, breaches, remediation, and areas needing attention. In governance, risk, and compliance (GRC), compliance reporting matters…
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Compliance management software
Read more: Compliance management softwareWhat is compliance management software? Compliance management software is a digital system that helps organizations manage compliance obligations, controls, policies, evidence, issues, remediation, and reporting in 1 connected place. It gives compliance teams a clearer way to understand what requirements apply, who owns them, what actions are due, and what evidence proves compliance activity has…
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Regulatory compliance including SCF compliance frameworks
Read more: Regulatory compliance including SCF compliance frameworksWhat is regulatory compliance? Regulatory compliance is the process of meeting the laws, rules, standards, and requirements set by regulators, governments, and supervisory bodies. It helps organizations understand which external obligations apply, assign ownership, operate controls, collect evidence, and report when required. In governance, risk, and compliance (GRC), regulatory compliance matters because regulatory expectations rarely…
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Compliance
Read more: ComplianceWhat is compliance? Compliance is the process of meeting the laws, regulations, standards, policies, contractual requirements, and ethical expectations that apply to an organization. In simple terms, compliance helps organizations understand what they are required to do, assign ownership, operate controls, evidence activity, and respond when something goes wrong. In governance, risk, and compliance (GRC),…
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US banking regulators scrap their third-party risk rulebook: what principles-based oversight really demands
US regulators want banks to stop following a checklist and start defending their own judgement on vendor risk, a shift now spreading well beyond American banking. Key takeaways Introduction: risk and compliance beyond the checklist For the best part of 3 years, a compliance officer at a mid-sized US bank has had a simple, if…
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Why employee engagement is critical to your GRC program’s success: key takeaways from Gartner ERAC
Effective GRC (governance, risk, and compliance) depends on the people across your organization. You can have well-designed, optimized processes supported by sophisticated technology that automates workflows. However, if employees and other stakeholders are not engaged or do not follow those processes, the value is lost. People provide the data, insights, and critical review that make…
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From risk management to business outcomes: what Gartner’s GRC insights mean for risk leaders
Risk leaders do not need more information. They need more of the right context. That was one of the clearest themes we took from the 2026, North American, Gartner’s Enterprise Risk, Audit and Compliance Conference. Across sessions the conversation repeatedly came back to a bigger question: how can GRC help organizations make better decisions and…
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