The founders of GRCi saw that there was a need in the market at institutional investment institutions, listed companies and other types of organizations for a central register with Governance, Risk and Compliance reports. In addition, there were many interpretations of the SAS70 standard and later the ISAE 3402 standard. These interpretations caused a lot of confusion among users of ISAE 3402 reports, while the aim was to improve transparency.
The GRCiregister is free of charge and remains free for basic registration. In this way, the completeness of the register is guaranteed as much as possible. The register is financed through donors and the register contribution. All organizations that have an ISAE 3402 report are registered in the register if this is signed by an accountant. The responsibility for reporting and keeping information up-to-date lies with the service organization.
The aim of GRCi is to materially improve the quality of Governance, Risk and Compliance reports in Europe within a time span of three years by means of a strategic multi-year plan.
GRCi has a director and a board, in addition there are three employees working for the register. GRCi is based in London.