I2. Communication

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Why is GRC important? blog

I have been blogging about what GRC is, advocating the definition developed by the Open Compliance and Ethics Group, OCEG (see this and subsequent posts). But, I haven’t really talked about why the concept of GRC has value.

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General Rules and Regulations Promulgated under the Securities Exchange Act of 1934 resource National Regulations Member contributionOCEG Reviewed
Section 2 -Necessity for Regulation as Provided in This Title:
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IT Control Objectives for Sarbanes-Oxley 2nd Edition (September 2006) resource Books / Publications Member contributionOCEG Reviewed

Available to ISACA Members only.

This publication provides CIOs, IT managers, and control and assurance professionals with scoping and assessment ideas, approaches and guidance in support of the IT-related Committee of Sponsoring Organizations of the Treadway Commission (COSO) internal control objectives for financial reporting.

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Item 402 of Regulation S-K - Executive Compensation (February 12, 2007) resource Agency Guidances Member contributionOCEG Reviewed
The interim final rules, which amended the Summary Compensation Table, Grants of Plan-Based Awards Table and Director Compensation Table requirements in Item 402 of Regulation S-K, were effective on December 29, 2006. Compliance with these amendments is required for proxy statements, information statements and registration statements filed on or after December 15, 2006, that are required to include Item 402 disclosure for fiscal years ending on or after December 15, 2006, and for Forms 10-K and 10-KSB for fiscal years ending on or after December 15, 2006.
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Federal Sentencing Guidelines Manual §8B2.1. Effective Compliance and Ethics Program (2010) resource Agency Guidances Member contributionOCEG Reviewed

To have an effective compliance and ethics program, for purposes of subsection (f) of §8C2.5 (Culpability Score) and subsection (c)(1) of §8D1.4 (Recommended Conditions of Probation - Organizations), an organization shall -

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Helpline/Hotline Operation in France: CNIL Requirements and the Single Authorization Process Explained resource White Papers Member contributionOCEG Reviewed
On November 10, 2005, the CNIL adopted guidelines to establish a new framework for corporate whistleblowing systems in France. CNIL created these guidelines to be consistent with Sarbanes-Oxley Act 2002 (SOX) code of conduct and whistleblower requirements for U.S. and other public companies. These rules apply to all public or private companies operating whistleblower programs in France.
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SEC, Regulation S-X, Title 17 CFR Part 210 resource National Regulations Member contributionOCEG Reviewed
The form and content of and requirements for financial statements included in filings with the SEC are set forth in Regulation S-X (17 CFR 210). Regulation S-X rules, in general, are consistent with generally accepted accounting principles (GAAP) but contain certain additional disclosure items not provided for by GAAP. Regulation S-X is organized into thirteen articles that are further divided into Rules.
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Voluntary Non-Financial Disclosure and the Cost of Equity Capital (October 2010) resource White Papers OCEG Reviewed

Introduction: In the paper, Voluntary Non-Financial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting, forthcoming in The Accounting Review, we examine a potential benefit associated with the initiation of voluntary disclosure of CSR activities—a reduction in the cost of equity capital.

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GRC-XML Work Group Meeting on July 30, 2008 resource Presentation Slides OCEG Reviewed
The presentation of Proxy Democracy business objects and constituency to the GRC-XML Work Group
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SEC, Final Rule - Disclosure Required by Sections 406 and 407 of the Sarbanes-Oxley Act of 2002 resource National Regulations Member contributionOCEG Reviewed
The SEC adopted rules and amendments (effective March 3, 2003) requiring companies, other than registered investment companies, to include two new types of disclosures in their annual reports filed pursuant to the Securities Exchange Act of 1934.
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