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Feb 20, 2012

Watch: Why companies struggle with linking risk to strategy

Steve Shapiro, former general counsel and corporate secretary at Cole Taylor Bank, provides an in-depth view of the new governance framework.

It’s often difficult for companies to balance their governance, risk and compliance (GRC) priorities in today’s competitive, complex and profit-driven business environment. One major difficulty governance officers encounter is the need to stay on the same page as other GRC executives. Companies can lose time, money and potential investors before the right strategy is implemented.

A survey by the Economist Intelligence Unit, commissioned by KPMG, the global audit, tax and advisory firm, reveals that 50 percent of US boards and 41 percent of boards worldwide now take GRC very seriously. But there is one aspect that is moving ahead at a snail’s pace: convergence. Why? The answer is simple – costs.

In the video interview below, Steve Shapiro, former general counsel and corporate secretary at Cole Taylor Bank, provides an in-depth view of the new governance framework along with some tips for corporate secretaries who can serve as facilitators of this process and help reduce costs. Click on the video below to view.



Aarti Maharaj

Aarti is deputy editor at Corporate Secretary magazine