Database Reference
In-Depth Information
In this chapter we will cover the following topics:
• Provide an approach to establish a common framework for assessment and
monitoring of regional controls.
• Share how InFission has set up an integrated inancial governance
framework using Oracle GRC Manager to replace regional compliance
silos, which are reactive, unreliable, inefficient, and inconsistent. You will
learn how this Financial Governance framework has lowered the barrier to
do business across the borders. For example, this framework enables the
compliance team to use different perspectives in Oracle GRC Manager to
comply with data privacy and bribery laws in the United States, the United
Kingdom, and the European Union, which are markedly different. These
benefits achieved by InFission should help you identify sources of value
to create a business case for a similar framework in your organization.
You will also be able to use the InFission benchmark to control the cost
of compliance, which is growing for most organizations.
• We will discuss how you can manage regional compliance programs
including the United States' Sarbanes-Oxley, Canada's Bill 198, the United
Kingdom's Corporate Governance Code, the European Union's 8th Directive,
Japan's Financial Instruments and Exchange Law, and Australia's Corporate
Law Economic Reform Program (CLERP) in Oracle GRC Manager Financial
Governance module.
• Describe a holistic view of compliance InFission Financial Governance
framework that has streamlined regional compliance process and provided
the management with full visibility into the risks across its local entities
and global processes that are distributed across the USA, Canada, the UK,
Germany, Australia, and Japan. We provide examples of managing different
regional compliance activities within the Oracle GRC Manager platform. We
will also discuss how InFission is using this platform to manage compliance
activities with overlapping control objectives to comply with regional
regulations and how this platform can efficiently address the requirements
under various local regulations.
Regulatory compliance in major
economic regions
In this section, we will provide a brief overview of regional regulations that impact
InFission financial reporting and disclosure compliance activities:
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