Regional-focused Compliance - Governance, Risk, and Compliance Topic for Oracle Applications - page 416

UDAs support multiple datatypes, such as String non-translatable, String
translatable, Date, and Number. If you want to use a lookup value set with the
UDA, it should be defined as String non-translatable. Use the String translatable
datatype when the display type is free-form text or multiple-line text.
Setting up Regional Compliance Framework
using perspectives
Perspectives provide hierarchical shape, structure, and organization for core business
components such as risks, controls, and GRC components. They also support key
user activities such as analytics and reporting. Perspective management provides a
centralized interface for users to define different views into the GRC data.
InFission uses perspectives to relate regulation mandates to key compliance risks,
while assessing and prioritizing these risks. Each regulation implies a number of
risks, which can sometime span other regulations. The Compliance PMO has a
central view of these compliance risks, which are evaluated to identify the most
critical areas and priorities for action. In particular, this is important for InFission
because it follows a compliance management approach based on risk and materiality
(scoping) to determine key controls and to optimize their compliance practice.
By using a compliance perspective, InFission is able to implement controls that
ensure compliance to multiple regulations to reduce risks. By centralizing the
controls in a unified environment and moving away from fragmentation across
various systems, redundancies can be removed. Additionally, a number of key
controls that fulfill similar requirements originating from different regulations
are maintained and tested at the same place.
Before creating a new perspective hierarchy, consider the class of perspective that
you need to create. In addition to any perspective classes created by your GRC
Administrator, there are the following five pre-seeded perspective classes:
• Organization describes the internal structure of a business. It is empty
by default, and you must populate it to describe your organization.
• Financial Governance Accounts is a delivered perspective, but it does
not contain any values. You can add accounts to fit your business needs.
• The Major Process perspective hierarchy does not contain any values as
that depends on how your company is structured.