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Open Compliance & Ethics Group Sets Up Provisional XBRL Jurisdiction

Submitted by: OCEG - Open Compliance & Ethics Group

Categories: Corporate Governance, Corporate Social Responsibility

Posted: Sep 19, 2008 – 01:47 PM EST

 

Sep. 19 /CSRwire/ - Laytonsville, Maryland & Phoenix, AZ. - September 19, 2008 - The Technology Council of thevOpen Compliance and Ethics Group (OCEG) has established a provisional XBRL jurisdiction following strong interest in the use of XBRL by OCEG members and adoption by the organization's GRC-XML Program working group. With over 13,000 members, OCEG is a non-profit that uniquely helps organizations drive Principled Performance(TM) by integrating governance, risk management, and compliance (GRC) processes via guidelines and standards, evaluation criteria and benchmarks, and a global community of practice.

The establishment of a GRC jurisdiction, approved by the XBRL International Steering Committee (ISC), enables OCEG to use the XBRL reporting standard in the representation of OCEG's GRC management standards and process framework. A jurisdiction is granted the exclusive right to represent XBRL International (XII) in its area
(or area of interest) and is able to provide official support to XBRL projects and initiatives. It is responsible for encouraging the development and adoption of XBRL in its particular discipline.

Jurisdictions are initially classed as Provisional and become classed
as Established after submitting an updated application to XII. OCEG has a range of XML initiatives for GRC taxonomy, workflow and reporting under way and is interested in integrating the XBRL Standard in its work. OCEG's initial GRCXML work group will complete, publish and popularize new GRC-related schema in an Open Standard, under the GRC-XML heading, in 2009. The GRC-XML Jurisdiction will develop the related work groups needed to create and publish additional sub-domains in 2009 and 2010.

OCEG is a nonprofit organization that provides:

  • Common Governance, Risk Management and Compliance (GRC) language and
    structure - a Framework that can be followed to assess risks then design and evaluate controls for them;
  • Compliance Metrics - Measurements to ensure performance aligns with company objectives;
  • Online Access - a searchable database that provides ready access to key legal requirements (and to the laws and regulations themselves), clearly stated practices to aid with compliance, and tools and resources to make the process easier;
  • A community of practice to share ideas, ask questions, and benchmark against peers. OCEG helps organizations drive Principled Performance(TM).
For more information about OCEG, visit www.oceg.org.

For more information, please contact:

Phone: 202.234.6234
Website: www.oceg.org

 

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