BANGALORE: To complement a unified and integrated approach towards a sustainable strategy around the Companies Act 2013, SAP SE offers a range of Governance Risk and Compliance(GRC) solutions that bridges the gap between historically slow technology adoption and the need for innovation within the internal audit function.

The GRC software provides greater transparency and effective management practices to assist in highly regulated markets and complex compliance requirements in India. .

The corporate landscape for GRC is rapidly changing with the recently announced Companies Act 2013. Sound governance is the fundamental prerequisite and foundation in the journey of laying down a GRC framework.

 This has implications on various policies with respect to Board Structure, Responsibility and Accountability at the Board Level, Remuneration, Organization Code of Conduct, Importance and Independence of the Role of Audit and Risk Committees, Assurance Mechanisms and its accountability etc.

 The Companies Act of 2013 has incorporated certain specific mandates around the Governance, Risk Management and Compliance which can be classified into four basic building blocks.

•             Sound Governance a fundamental prerequisite and foundation in the journey of laying down a GRC framework

•             Execution of policies around Governance, Enterprise Risk management that warrants Proactive Risk Management

•             Mitigation of Risk, Internal Control Assessments for their Effectiveness and Compliance with respect to the Business Process

•             An effective Assurance Mechanism process, designed to provide an opinion on the effectiveness and the adequacy of Control Mechanisms.

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