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Fundamentals of Governance, Risk Management, and Compliance is book 1 of the book series, titled Governance, Risk Management, and Compliance (GRC). This book 1 discusses the foundational issues and widely accepted concepts of GRC, and the importance of GRC as a prerequisite for the sustainability and competitiveness of organizations in today's intelligentsia economy dominated by ingenuity, artificial intelligence, hyper-competitiveness, and dataism. Subsequent publications of the book series will deal with specific applications of GRC to areas like money laundry, quality assurance, payment fraud, procurement, etc.