Will the integrated GRC implementation be effective against corruption?

Magda Siahaan, Harry Suharman, Tettet Fitrijanti and Haryono Umar

Journal of Financial Crime, 2022, vol. 30, issue 1, 24-34

Abstract: Purpose - Business Principles for Countering Bribery, 2003, helps companies design and implement anti-bribery policies, one of anti-corruption. Since then, the business environment has changed, can carry out anti-corruption activities from within the organization through a management system. Currently, the business world recognizes the existence of an integrated governance, risk management and compliance (GRC), where one of the goals is to overcome the risk of corruption in the organization. Therefore, this study aims to clarify the concept of integrated GRC implementation within the organization through previous studies from 2007 to 2021. Design/methodology/approach - This study was designed in a systematic literature review based on five journal publishers’ articles/journals from the Web of Science, Scopus and Google Scholar databases. Keywords used to search consist of Anti-Corruption (AC); Governance (G); Risk Management (RM); Compliance (C); GRC. The four keywords G, RM, C and GRC, are filtered based on articles that correlate with AC. Findings - Overall, this review shows a few concepts for integrated GRC implementation in organizations that effectively support the prevention and detection of corruption. Although no empirical research has been found in the literature review, these three GRC silos – governance, risk management and compliance – support anti-corruption. In other words, it is hoped that the successful implementation of the integrated GRC in the future can improve the anti-corruption capabilities to be achieved in every organization. Research limitations/implications - Research only discusses one internal function within the organization, of the many internal functions that are known to detect and prevent corruption. Practical implications - Organizations can use this review to understand the importance of internal functions in combating the risk of corruption with a more consistent and committed commitment to implementing an integrated GRC. Originality/value - As far as the authors’ search is concerned, there is no review of the concept of integrated GRC implementation against anti-corruption. It invites researchers to examine the actual implementation of this integrated GRC in organizations.

Keywords: Governance; Compliance; Risk management; Anti-corruption; GRC (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:jfc-12-2021-0275

DOI: 10.1108/JFC-12-2021-0275

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