Will the integrated GRC implementation be effective against corruption?
| DOI | https://doi.org/10.1108/JFC-12-2021-0275 |
| Published date | 24 February 2022 |
| Date | 24 February 2022 |
| Pages | 24-34 |
| Subject Matter | Accounting & finance,Financial risk/company failure,Financial crime |
| Author | Magda Siahaan,Harry Suharman,Tettet Fitrijanti,Haryono Umar |
Will the integrated GRC
implementation be effective
against corruption?
Magda Siahaan
Padjadjaran University, Bandung, Indonesia and Trisakti School of Management,
Jakarta, Indonesia
Harry Suharman and Tettet Fitrijanti
Padjadjaran University, Bandung, Indonesia, and
Haryono Umar
Perbanas Institute, Jakarta, Indonesia
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 througha 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 corruptionin the organization. Therefore, this study aims to clarify the concept of
integrated GRC implementationw ithinthe 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 filteredbased on articles that correlate with AC.
Findings –Overall, this review shows a few concepts for integrated GRC implementationin organizations
that effectively supportthe prevention and detection of corruption. Although no empirical researchhas 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 integratedGRC
in the future can improvethe 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
implementingan 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
implementationof this integrated GRC in organizations.
Keywords Governance, Compliance, Risk management, Anti-corruption, GRC
Paper type Literature review
© Magda Siahaan, Harry Suharman, Tettet Fitrijanti and Haryono Umar. Published by Emerald
Publishing Limited. This article is published under the Creative Commons Attribution (CC BY 4.0)
licence. Anyone may reproduce, distribute, translate and create derivative works of this article (for
both commercial and non-commercial purposes), subject to full attribution to the original publication
and authors. The full terms of this licence may be seen at http://creativecommons.org/licences/by/4.0/
legalcode
JFC
30,1
24
Journalof Financial Crime
Vol.30 No. 1, 2023
pp. 24-34
EmeraldPublishing Limited
1359-0790
DOI 10.1108/JFC-12-2021-0275
The current issue and full text archive of this journal is available on Emerald Insight at:
https://www.emerald.com/insight/1359-0790.htm
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