The Risk Ignored, Part II Chapter 5: The Academic Reckoning

In Part I of The Risk Ignored, we followed the rise and fall of GRC. Born in the aftermath of the Sarbanes-Oxley Act, it was codified by Archer, PwC, and Michael Rasmussen, and quickly became the acronym that defined a market. Yet by the late 2000s, GRC was collapsing under its own weight. The very acronym that promised coherence came to mean everything and, in practice, nothing at all.

The story of The Risk Ignored Part II: The Seeds of Integration begins here. The collapse of GRC and the inadequacy of compliance-first ERM created a void. The question, for both scholars and practitioners, was what comes next.