Understanding governance, risk and compliance information systems (GRC IS): The experts view

Abstract

Although Governance, Risk and Compliance (GRC) is an emerging field of study within the information systems (IS) academic community, the concept behind the acronym has to still be demystified and further investigated. The study investigates GRC systems in depth by (a) reviewing the literature on existing GRC studies, and (b) presenting a field study on views about GRC application by professional experts. The aim of this exploratory study is to understand the aspects and the nature of the GRC system following an enterprise systems approach. The result of this study is a framework of particular GRC characteristics that need to be taken into consideration when these systems are put in place. This framework includes specific areas such as: goals and objectives, purpose of the system, key stakeholders, methodology and requirements prior to implementation, critical success factors and problems/barriers. Further discussion about the issues, the concerns and the diverse views on GRC would assist in developing an agenda for the future research on the GRC field.

The Implementation of Governance, Risk, and Compliance IS: Adoption Lifecycle and Enterprise Value

“…Existing academic literature about GRC implementations indicates that researchers have more ground to cover in this field as a lot of aspects have not been extensively investigated yet (Gericke, Fill, Karagiannis, & Winter, 2009;Papazafeiropoulou & Spanaki, 2015). Existing literature on GRC indicates a gap regarding many aspects of the GRC implementation process and the value creation for organization (Spanaki & Papazafeiropoulou, 2013).…”

Policy and Information Systems Implementation: the Greek Property Tax Information System Case

“…Countries worldwide are implementing Information Systems (IS) to reform their public sector (e.g. Avgerou and McGrath, 2007;Bloomfield and Hayes, 2009;Ciborra, 2005;Butler and McGovern, 2012;Cordella and Iannacci, 2010;Sadiq et al, 2012;Papazafeiropoulou and Spanaki, 2016).…”

Firm Value and the Impact of Operational Management

“…Operational management and operational risk (Papazafeiropoulou and Spanaki 2015) have been gaining increasing importance in industry (Scott and Perry 2009;Mukhopadhyay et al 2017;Silvestro and Lustrato 2014;Reim et al 2016;Hora and Klassen 2013;Tazelaar and Snijders 2013) and firms make substantial investments in operations management systems (from hereon OMS) to mitigate operational risk (from hereon OR), see for instance Wang et al (2010) and Dey (2004). The standard model of OR for firms in the financial sector (Loader 2002) implies that pair trade profits (where pair trading is defined as buying one stock and short selling another similar stock) arise due to differences in OR between the 2 firms (see Sect.…”