The Open Compliance & Ethics Group has unveiled an updated version of its standards for corporate conduct and risk management, known as the Red book.

The OCEG GRC Capability Model, or Red Book 2.0, provides a blueprint for the integration and strategic alignment of compliance, governance, and risk-management practices.

Red Book 2.0 updates the original version published in 2005. It includes a narrative overview GRC Capability Model, the central piece of the OCEG Framework, and presents the Components of the Model in detail.

“In the first Red Book, the focus was on getting the ‘compliance house’ in order,” says OCEG President Carole Stern Switzer. “We touched on the governance and risk-management aspects, but did not address them in as much detail.”

Switzer says Red Book 2.0 takes the GRC Capability Model “to a much deeper level—providing greater insight into the methods for integrating governance, risk management, and compliance with internal controls, supportive technologies, and ability to measure success.”

The guide provides detail about key deliverables for each step of the process and identifies types of technologies that can enable those efforts and improve the flow of consistent information throughout the organization.

“This truly globalizes Red Book 2.0,” says Switzer. “Its recommended practices are appropriate in any organization, operating anywhere in the world.”

Copies are available at www.oceg.org.

Compliance Week will provide readers with full coverage, including how to use the guide, in an upcoming edition.

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