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IRM, ERM, and GRC: Is There a Difference?

Reciprocity

Although organizations have always engaged in governance, risk management, and compliance in one form or another, the term “GRC ” seems to have been coined by risk consultant Michael Rasmussen, the “GRC Pundit,” in 2002. A name for this new market: GRC.” There it was! IRM: A Short History.

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SOX vs. SOC: What Is The Difference? [Complete Guide]

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It is designed to increase auditability within the organization and help detect internal fraud or theft. SOX” is a commonly used acronym that refers to the Sarbanes-Oxley Act of 2002. From inflated earnings reports, to embezzlement, illegal market manipulation and more, SOX was drafted to prevent future corruption.