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Survey Reveals Fragmented Governance, Risk, and Compliance Efforts Can Thwart Companies From Achieving Business Goals
Survey Reveals Fragmented Governance, Risk, and Compliance Efforts Can Thwart Companies From Achieving Business Goals
Published 09-27-07
Submitted by OCEG - Open Compliance & Ethics Group
NEW YORK - September 27, 2007 - Most companies acknowledge the high cost and risks of fragmented governance, risk, and compliance (GRC) efforts, yet few have taken action, according to the 2007 Open Compliance and Ethics Group (OCEG) GRC Strategy Survey released today.
"The survey revealed a higher degree of dissatisfaction and pain associated with current GRC approaches than we expected to find," said Lee Dittmar, a Principal with Deloitte Consulting LLP, a primary sponsor of the survey. "However, while respondents recognized the need to reduce unnecessary complexity and better integrate their risk and compliance needs with mainstream business processes, a relatively few have taken action to address the problem."
The key findings of the 2007 OCEG GRC Strategy Survey include:
"Organizations want and need comprehensive frameworks and enterprise solutions to address governance, risk, and compliance challenges," said Scott Mitchell, OCEG Chairman and CEO. "This survey supports what we have learned from members of the OCEG community over the past several years. It is this demand that has driven OCEG's work to develop the OCEG Framework and extensive database of guidance, standards, and resources. We expect the other parts of our 2007 benchmarking series (still in progress) to provide additional insight about how organizations are addressing risk assessment, training, and other key GRC capabilities."
Approximately 250 organizations from more than 15 countries, representing a broad range of industries, participated in the OCEG survey sponsored by Deloitte Consulting LLP, SAP, and Cisco.
For more on the survey's key findings, please go to www.deloitte.com/us/GRCStrategyStudy. To receive a copy of the report, please go to www.oceg.org/view/GRCStrategyStudy.
About OCEG
OCEG is the only nonprofit organization offering comprehensive guidance, standards, benchmarks and tools for integrating governance, risk management, internal control and compliance (GRC) processes. Our unique platform and organizational structure helps you take advantage of contributions from thousands of experts and companies - many of them just like yours. Our guidance, benchmarking, custom tools and communities of practice help you drive principled performance(TM). www.oceg.org
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
OCEG - Open Compliance & Ethics Group
OCEG - Open Compliance & Ethics Group
OCEG is the only nonprofit offering comprehensive guidance, standards, benchmarks and tools for integrating governance, risk and compliance (GRC) processes. Our unique platform and organizational structure helps you take advantage of contributions from thousands of experts and companies - many of them just like yours. Our guidance, benchmarking, custom tools and communities of practice help you perform - not just comply. OCEG offers value you can exploit today, tomorrow and as your company grows.
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