The concepts of governance, risk and compliance are not new. However, the label ‘GRC’ has more recently gained traction in research and practice. Given the growing interest in GRC it is timely and important to reflect upon developments, as the literature is now peppered with a wide array of views to the extent that the term risks being misunderstood in theory and practice. This paper summarises and critiques the GRC literature for the purpose of revealing: the diversity of ambitions, assumptions and ambiguities that require questioning in conflations of governance, risk and compliance; and gaps in present research agendas. Grounding our argument on the critique of the literature we open up discussion of alternative perspectives and identify their possible contribution to the study of GRC. Moreover we argue that Latour’s (2005) concept of ‘panorama’ has the potential to fruitfully broaden the notion of GRC.
Hardy, Catherine and Leonard, Jenny, "Governance, risk and compliance (GRC): Conceptual muddle and technological tangle" (2011). ACIS 2011 Proceedings. 42.