Governance, Risk Management, Compliance and Internal Audit
Effective corporate governance, risk management, compliance (Governance, Risk & Compliance (GRC)) and internal audit help organisations make informed decisions, strengthen the control environment and respond to changing regulatory expectations. Well-managed risks, clear responsibilities and effective controls help organisations not only reduce uncertainty, but also improve resilience, reliability and long-term performance.
Why does a proactive approach matter?
Today’s organisations face risks that are interconnected, rapidly changing and often difficult to predict. Digitalisation, cyber risk, regulatory requirements, supply chain instability, geopolitical developments and the use of artificial intelligence mean that risk management must be holistic and forward-looking.
A proactive approach helps organisations to:
- Identify and assess significant risks in a timely manner;
- Strengthen governance, risk management and control systems;
- Support informed decisions by the management board and audit committee;
- Respond to change faster and in a more coordinated way;
- Create a stronger foundation for sustainable growth and development.
How PwC can help
PwC provides end-to-end support across corporate governance, risk management, compliance and internal audit. We help organisations design practical solutions that support day-to-day management, meet regulatory expectations and enable risks to be managed in a more informed way.
Our services include, among others:
- Governance
- Risk management
- Compliance opinions and testing your internal control elements
- Internal audit
Our team combines local experience, international methodologies and a practical business approach to help organisations operate with greater confidence, awareness, and readiness for the future.
Risk and resilience: Why it pays to connect these two domains
PwC's analysis addresses the need to integrate operational resilience and risk management within organisations, emphasising that disruptions have become an everyday occurrence and that resilience is no longer optional but a strategic imperative. The central idea is the so-called 'bowtie model', which helps to understand how risk prevention and disruption impact mitigation form a unified whole that should be managed in an integrated manner rather than as separate silos. As a practical example, the substitution approach is described, whereby a company switches to an alternative supplier during a disruption but must carefully assess the impact on the risk environment, data security, and service quality.
Read the article and download the report
Moving faster: Reinventing compliance to speed up, not trip up
PwC surveyed more than 1,800 executives from 63 countries to understand how companies are coping with an increasingly complex regulatory environment. The survey highlights so-called "compliance pioneers" – approximately 10% of companies that have dared to fundamentally redesign their compliance model, using technology, artificial intelligence, and new talent strategies to transform compliance into a strategic competitive advantage rather than merely an obligation.
Notably, the growing role of technology and AI stands out – 82% of companies plan to increase investments in compliance technology, and 71% believe that artificial intelligence will have a positive impact on compliance management. For more details on how strategic compliance management and a data-driven approach help companies move faster without losing control over risks, it is worth reading the full report.
Read more in the full report
Seeing through walls to find new horizons
PwC's largest internal audit survey encompassed 4,680 respondents from 81 countries – internal audit leaders, board members, business executives, and risk and compliance leaders – to determine how internal audit can create more value in a rapidly changing and increasingly complex risk landscape.
The survey highlights five key findings: megatrends are creating an interconnected "risk multiverse," internal audit must be involved in more strategic areas to remain relevant, and it has a unique ability to act as a connecting force between different functions within an organisation. Particularly noteworthy is the finding that only 7% of respondents consider their internal audit function to be a trailblazer, yet these so-called "pioneers" stand out with remarkably better results – they invest more boldly in technology, dedicate nearly 66% of their resources to strategic risks, and are able to provide proactive advice to management that others cannot. At the same time, it emerges that technology investments have not delivered the expected results for many, and the rapid development of artificial intelligence is forcing internal audit to fundamentally rethink its approach before the window of opportunity closes. If you want to learn which specific steps can help internal audit become a strategic partner, retain talent, and maximize the value of technology, explore the full report.
Read more in the full report
Contact us
Karin Grents
Leader of Governance, Risk, Compliance (GRC), and Internal Audit services, PwC Estonia
Tel: +372 614 1800
