Factsheet - The Relationship Between Assurance and Compliance

Factsheet

This is a members only resource.

Please login to access.

Author

IIA-Australia

Date

2025

Topics Explored

Governance, Risk Management

Format

Factsheet

Extract/Description

GORC is a shorthand for the discipline inherent in establishing formal compliance management processes in an organisation.

The acronym GORC stands for:
› Governance.
› Obligational awareness.
› Risk management.
› Compliance administration.

These formal processes are an important part of the assurance that a board of directors needs from its organisation. 

Key Points

In simple terms, ‘good’ and effective GORC provides stakeholders with assurance that all of an organisation’s obligations are being met. 

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

Yes