The Easy Way to Assess GRC Capabilities

The Easy Way to Assess GRC Capabilities
Article filed in Capability Model

As a GRC professional, or auditor, how do you provide assurance on the GRC capabilities within your organization? Where do you turn?

As a GRC professional, or auditor, how do you provide assurance on the GRC capabilities within your organization? Where do you turn?

Organizations need a natural progression and interaction between governance, risk management and compliance (GRC). Regulatory fines, the global nature of business, and the complexity of technology demand it.

Don’t reinvent the wheel — OCEG has the resources to help you.

Finding Help To Build GRC Capabilities

In my first job as a Chief Audit Executive (CAE), I needed to establish a new internal audit department at my organization. I had been auditing for many years, but had never started a new audit department.

I turned to the Institute of Internal Auditors (IIA) for help. At the IIA I found a wonderful resource on how to start an internal audit department. I learned all the necessary steps and I even found sample templates. Within a short time I had all the pieces in place. No need to reinvent the wheel.

Years later, in a new organization, I found myself responsible for ethics and compliance. I was familiar with ethics and compliance, but had never set up a capability in an organization.

OCEG GRC Capability Model, The Red Book

I turned to OCEG and found the GRC Capability Model. The Red Book (as it’s called) helped me perform a gap analysis at my organization. I had a road map. I knew all the necessary components and elements I needed to have in an integrated ethics and compliance capability. Within a short time I knew what we needed to do. No need to reinvent the wheel.

As many of you know, to be successful you must measure the effectiveness of your processes and capabilities. But where do you go to find help measuring integrated GRC?

If You Build It You Must Audit It

10 years ago, a group of leaders who worked with OCEG decided we needed a consistent way to audit GRC capabilities.

We came together as a community and developed the GRC Assessment Tools. We worked to develop an approach that any organization can use. We took the time and effort to practice the procedures on our own organizations. We made sure they worked.

GRC Assessment Tools

OCEG GRC Assessment Tools, The Burgundy Book

The purpose of the GRC Assessment Tools (Burgundy Book) is to provide a guideline for GRC professionals, as well as those responsible for providing assurance. The Burgundy Book provides a common set of assessment procedures and a common understanding of what to expect during an assessment of GRC Capabilities. These procedures align to the OCEG GRC Capability Model and you can use them for self-assessment as well as independent assessment.

OCEG’S goals in creating the Burgundy Book are to:

  • Help organizations evaluate the design and operating effectiveness of their GRC Capability
  • Reduce the cost of such evaluations by eliminating the time and expense of creating procedures
  • Raise the overall level of maturity and quality of organizational GRC globally by helping individual organizations create their prioritized improvement plans
  • Provide external judgment and recognition of sound practices

Be Informed. As an OCEG Basic Member (it’s free to join) you can download the GRC Capability Model and an excerpt of the GRC Assessment Tools.

Get A Basic Membership

Be Empowered. Get access to the GRC Assessment Tools and all of the OCEG GRC standards. Sign up for an All Access Pass.

Get An All Access Pass

Become An Expert. Your All Access Pass INCLUDES the opportunity to obtain GRC Professional (GRCP) and GRC Audit (GRCA) Certification (no additional charges or fees for exam prep or online testing). Learn more today.

Learn More About Certifications

Measure Your GRC Capabilities

OCEG recently released the newest version of the OCEG GRC Assessment Tools that aligns with version 3.0 of the OCEG GRC Capability Model.

You can learn more by downloading an excerpt. Or, if you have an OCEG All Access Pass, you can access the complete GRC Assessment Tools document.

Again, there is no need to reinvent the wheel, since others before you already did the work. All you have to do is download and use the available resources.

This guest post was written by Jason Mefford, Director of Training for OCEG, President of Mefford Associates (a professional training, coaching and boutique advisory firm), and the Managing Director of GRC Certify. Jason is a sought after speaker, business trainer and coach on ethics, corporate governance, risk management, GRC, compliance and internal audit topics. He helps organization think differently by becoming Principled Performers to help them reliably achieve their objectives, while addressing uncertainty and acting with integrity.


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