oracle concepts for you: Welcome to GRC

Friday 6 April 2012

Welcome to GRC

Introduction

The Governance, Risk and Compliance (GRC) market is a relatively new market and the demand for GRC products and services is growing in spite of the current economic climate. Many Accounting, Auditing, and Oracle Finance Professionals are interested in learning more about Oracle GRC Technology Products and/or Applications. Some of these professionals realize very quickly that they can leverage their Accounting, Auditing and/or Oracle Financials experience to become proficient implementing GRC Solutions using the Oracle GRC Technology Products and/or Applications.

Oracle GRC Platform

The first step is to become familiar with the Oracle GRC Technology Products and Applications included in the Oracle GRC Platform. You accomplish this by viewing the OIC presentation Introduction to the Oracle Governance, Risk and Compliance (GRC) Platform. You can also download the accompanying PowerPoint presentation. The PowerPoint presentation provides links to the Oracle GRC Portal, which you can use to quickly learn more about each Oracle Technology Product and/or Application included in the Oracle GRC Platform.

Link with oracle EBS and GRC

Introduction:-

   Oracle GRC term is relatively new word compared to Oracle E Business Suite , But it is getting hot day by day. Where GRC Stands for Governance – Risk Management – Compliance. GRC takes cares of Corporate Governance ,Corporate Compliance , and Enterprise Risk management. GRC integrates organizations to manage known and unknown risks – which helps to demonstrate compliance with their organizational policies and external regulations.GRC includes Orchestrating employees in other words we can call it as configuring GRC system as well as configuring employees or an organization.
GRC came into spotlight only after Sarbanes-Oxley Act which need for all US listed companies to design and implement suitable SOX compliance.

Components of Oracle GRC:-

AACG: - Application Access Controls Governor

    It provides a real time monitoring and enforcement controls. Currently It also includes prevention of access provisioning for Responsibility based security design in Oracle EBS, We have custom connectors for RBAC based security design for EBS.Oracle AACG provides library of Best practice controls library.

PCG: - Preventive Controls Governor

    As names tells it’s a preventive controls mechanism , where Preventive controls can be used in EBS Forms (except OAF Forms )and EBS Workflows.PCG Protects sensitive application data.One of the widely used feature of PCG is Audit feature which reduce audit costs, reduced maintenance costs and increased IT productivity.

CCG: - Configurations Controls Governor

     CCG mainly geared towards application integrity and functionality. The solution enables tracking of all changes, providing a detailed audit history, and records designated setup values, permitting quick comparison of values from different points in time or environments. With Oracle Configuration Controls Governor, you can ensure application integrity, audit changes, and continuously monitor setups. As a result, you can reduce financial loss, regulatory cost, audit effort, and the risks associated with them.

TCG: - Transaction controls Governor

    TCG continuously monitors transactions against policies to detect suspicious transactions or redundant business practices that get in the way of performance. By spotting anomalies in everyday transactions, the system prevents cash leakage , TCG resides inside AACG which will minimize the installation efforts.

History of Oracle GRC :-

                Oracle acquired Logical Apps a California based company in October 2007.Logical apps were leading provider of automated Governance , Risk and Compliance Controls management solutions. During Oracle acquisition Oracle AACG version was in 7.X version but as of today they are in 8.6.4.The upgrade path was from 7.X > 8.0 > 8.1> 8.2> 8.5>8.6.3>8.6.4 and Oracle PCG was in its 6.X version but as of today they are in 7.3.3 and this is the upgrade path for (6.5.3 - 6.5.8)->6.5.8.1->7.1.2->7.2.2.2->7.2.3->7.3->7.3.1->7.3.2.Oracle CCG is current version is 5.5.1,Oracle didn’t made any significant updates for CCG.

What is Reality GRC?

Reality GRC is an OIC Blog, which you can use to participate in the installation and/or implementation of one or more Oracle GRC Technology Products and/or Applications. We (OIC) installed the Oracle GRC Technology Products and Applications included in the Oracle GRC Platform on our dedicated server hosted by The Planet. The Planet is the largest privately held hosting company in the world and is SAS 70 Type II compliant. We have also installed Release 12.1.1 of the Oracle Vision Demo EBS Instance.
We will use the collective experience of Oracle GRC Professionals to develop case studies of the installation and/or implementation of one or more of the Oracle GRC Technology Products and/or Applications. We will use fictitious companies with real world GRC requirements to develop these case studies. Additionally, we will use the OIC tools and resources to implement an Oracle GRC solution to provide our participants with an opportunity to gain “hands on” experience using the Oracle GRC Technology Products and/or Applications.

We Need Oracle GRC Professionals

We need Oracle GRC Professionals to place on projects installing and implementing the Oracle GRC Technology Products and Applications. If you wish to be considered for one of these Oracle GRC contract positions, please forward your resume to roger.drolet@theoicllc.com. You must have hands on experience installing and/or implementing and using one of more of the following Oracle Applications and/or Technology Products:
Oracle GRC Applications
¡ Oracle GRC Insight