The Integrated GRC (Governance, Risk, and Compliance) Concept
Central Retail uses the Integrated Governance, Risk, and Compliance (GRC) framework to enhance its commitment to having effective corporate governance and business ethics practices. This framework serves as a holistic roadmap, aligning strategic objectives with managing risks, ensuring compliance with regulations, and embedding ethical practices into every aspect of the Company. Additionally, GRC ensures adherence to all relevant laws and industry standards, mitigating the risk of fines, reputational damage, and legal disputes.
GRC Training
The 2023, Central Retail focused on capacity building through seminars and workshops with leading companies, creating awareness from Tone at the Top, preparing an E-Rulebook, and emphasizing communication within Central Retail. In addition, the Pilot Governance Risk Compliance (GRC) Project on New Business Checklist has been prepared to cover the GRC principles.
Governance, Risk, and Compliance Training for the Board of Directors and Executives
In 2023, Central Retail organized a training session for the Board of Directors and executives to better understand the Governance, Risk, and Compliance (GRC) principles and implementation. An external expert facilitated the training, sharing expertise about GRC to guarantee that participants could effectively oversee GRC in business operations.
In addition, Central Retail has released the GRC E-Rulebook on the intranet so that employees can study and explore GRC more conveniently, as well as use it as a tool to promote understanding of the GRC framework and proactive risk management throughout the organization as well.