GRC360: A framework to help organisations drive principled performance

Abstract

This paper discusses the concept of principled performance as the clear articulation of an enterprise's financial and non-financial objectives and the boundaries it will observe as it drives toward them. It discusses the GRC360 Framework as a vehicle for organisations to drive and attain principled performance.

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  1. Driving Principled Performance™ is a concept developed by the OCEG community of practice, which is a grassroots organisation comprised of over 10,000 professionals from the governance, risk management, compliance, ethics, internal audit, accounting, consulting and various other disciplines. OCEG provides a hub around which these disciplines can collaborate to help organisations drive toward objectives while addressing uncertainty, protecting value and staying within defi ned boundaries of conduct. OCEG® Principled Performance®, Driving Principled Performance®, Drive Principled Performance®, The Fastest Cars have the Best Brakes® and GRC360® are registered trademarks of OCEG..

  2. OCEG's 2007 GRC Strategy Survey studied over 250 organisations of all sizes to better understand how these organisations think about and integrate GRC processes. It can be found at www.oceg.org.

  3. See Michel Rasmussen's research at www.forrester.com.

  4. OCEG's 2007 GRC Strategy Survey studied over 250 organisations of all sizes to better understand how these organisations think about and integrate GRC processes. It can be found at www.oceg.org.

  5. The initial version of the GRC360 Framework was called the OCEG Foundation for Integrated Governance, Risk Management and Compliance more commonly referred to as the OCEG ‘Red Book.’ These success patterns are based on this initial version. This paper, however, embodies improvements made to the framework based on lessons learned by these early implementers.

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Correspondence to Scott L Mitchell.

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1serves as the Chairman and CEO of a nonprofit think tank called the Open Compliance & Ethics Group (www.oceg.org). OCEG provides objective standards, guidelines and online resources to help organisations Drive Principled Performance™ by integrating governance, risk management, compliance (GRC) and ethics processes. OCEG's community of practice includes over 10,000 practitioners from a number of professions and industries. He is a recognised leader in corporate governance, risk management, compliance, ethics, eLearning and information technology. He was recently appointed to the Committee of Sponsoring Organizations (COSO) Task Force and was recognised two years in a row by Business Finance Magazine as one of the ‘Top 60 Influencers’ in corporate finance. Treasury & Risk Magazine named him to the list of ‘Top 100 Must Influencial People in Finance’ and he was recognised two years in a row by Human Resource Executive Magazine as one of the top 20 thought leaders regarding the future of human resource management. He is the Chairman of DoubleDrum Capital and sits on three private company boards. He was recently awarded patents in adult education and e-learning.

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Mitchell, S. GRC360: A framework to help organisations drive principled performance. Int J Discl Gov 4, 279–296 (2007). https://doi.org/10.1057/palgrave.jdg.2050066

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Keywords

  • GRC
  • corporate governance
  • risk management
  • compliance
  • internal control
  • ethics