I have been blogging about what GRC is, advocating the definition developed by the Open Compliance and Ethics Group, OCEG (see this and subsequent posts). But, I haven’t really talked about why the concept of GRC has value.
The APEC (Asia-Pacific Economic Cooperation) Privacy Framework is a practical policy approach to enable accountability in the flow of data while preventing impediments to trade. It provides technical assistance to those APEC economies that have not addressed privacy from a regulatory or policy perspective.
Many Asia-Pacific countries are members of regional groupings and are unlikely to develop privacy regulation without consideration of global and regional standards. Smaller countries in particular are careful to align their domestic regulations with regional and international developments. The protection of privacy in the region is not uniform, although some clear trends are emerging.
This section summarises the general approach being taken in each country (full details appear in Appendix 1 – National Laws).
Retailers and their suppliers sourcing from China and other Asian countries are now expected to show a high level of corporate social responsibility and prove that their supply chain functions in an ethical manner.
OCEG, Open Compliance & Ethics Group, Principled Performance, Driving Principled Performance, LeanGRC, GRC360 are trademarks of the Open Compliance and Ethics Group. No license is granted for their use beyond this site.