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Governance, Risk, and Compliance Handbook for Oracle Applications

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Governance, Risk, and Compliance Handbook for Oracle Applications

Governance, Risk, and Compliance Handbook for Oracle Applications

Copyright 2012 Packt Publishing

All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, without the prior written permission of the publisher, except in the case of brief quotations embedded in critical articles or reviews.

Every effort has been made in the preparation of this book to ensure the accuracy of the information presented. However, the information contained in this book is sold without warranty, either express or implied. Neither the authors, nor Packt Publishing, and its dealers and distributors will be held liable for any damages caused or alleged to be caused directly or indirectly by this book.

Packt Publishing has endeavored to provide trademark information about all of the companies and products mentioned in this book by the appropriate use of capitals. However, Packt Publishing cannot guarantee the accuracy of this information.

First published: August 2012

Production Reference: 1170812

Published by Packt Publishing Ltd.

Livery Place

35 Livery Street

Birmingham B3 2PB, UK.

ISBN 978-1-84968-170-4

www.packtpub.com

Cover Image by Artie Ng (<> )

Credits

Authors

Nigel King

Adil R Khan

Reviewers

Sam Bicheno

Sam Monarch

Acquisition Editor

Dhwani Devater

Lead Technical Editor

Susmita Panda

Technical Editors

Mehreen Shaikh

Veronica Fernandes

Joyslita D'Souza

Copy Editor

Laxmi Subramanian

Project Coordinator

Vishal Bodwani

Proofreaders

Mario Cecere

Aaron Nash

Indexer

Hemangini Bari

Graphics

Valentina D'silva

Manu Joseph

Production Coordinators

Alwin Roy

Prachali Bhiwandkar

Kruthika Bangera

Cover Work

Alwin Roy

Prachali Bhiwandkar

Foreword

Governance is nothing less than running a company well, and Oracle has proved itself a well-run company for over 30 years. It has found the need to provide the management team and directors many tools and facilities to plot course and help guide this huge enterprise. Though we steer through many storms, the risks are known, the course is plotted, the equipment is lashed to the decks, or properly stowed. The crew is prepared to sheet or drop sail.

These are the same tools that we make available to our customers, and while I have jokingly drawn the parallels to a sport with some connections to Oracle, the governance of an enterprise is a very broad and serious topic. What Nigel and Adil have shown in this book is just how broad it is and how many facets of Governance, Risk, and Compliance are handled through those tools. We have great tools that specialize in GRC and we have many other tools that intersect with it.

Just like the winds and the seas, the commercial, legal, and technological environment and the tools that we provide to help you manage them are varied and changing. This book gives you a great map on which you can chart your GRC journey, both present and near future. It is a journey that we are honored to share with you, as one of the many customers that has entrusted Oracle to provide the vessel and seamanship.

Chris Leone

Senior Vice President, HCM and GRC Products,

Oracle Corporation

About the Authors

Nigel King is the Vice President for Functional Architecture at Fusion Applications. As such he leads a band of architects whose job is to steward the designs and underpinnings for those things that span product families. He has been working with Oracle for the past 17 years. In that time he has worked mostly in Applications Development. He has worked in many areas of Applications, starting off in Distribution Management and then leading Oracle Applications' first venture into Business Intelligence, and Product Lifecycle Management Applications. A restless observer and inventor, his real passion has always been to see a problem defined, and in being defined well; resolved. By first profession he is a Chartered Management Accountant. He is also a Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA), Certified Information Security Manager (CISM), and Certified Information Security Professional (CISSP). He swears that as soon as he gets the book finished, he will catch up with his continuing professional education credits (CPE). His patents include, Methods and systems for portfolio planning, Audit management workbench, Internal audit operations for Sarbanes Oxley compliance , and Audit planning . He was fortunate to be hanging around at Oracle when the whole Enron issue happened. A decade later, GRC Apps was born, was new, then grew old, and is now suffused into many of the applications that surround it.

He is also Chairman of the Open Applications Group. The Open Applications Group is a 501(c)(6) not-for-profit standards development organization (SDO). This community is focused on building process-based business standards for e-commerce, Cloud Computing, Service Oriented Architecture (SOA), Web Services, and Enterprise Integration.

The OAGI Specification includes ICXML, an XML specification for the exchange, or risk and control libraries.

Before joining Oracle, he worked in what he now considers the "real world", first as an Accountant and then selling and implementing business systems. He gained insights in the high technology sector working for Philips, the consumer packaged goods sector working for Homepride Foods and Jeyes Group, and was introduced to the software world through Business Technology Consultants.

He is also a licensed boxer, keen soccer player and coach, and a qualified Boston marathon runner.

He lives with his beautiful wife Anita and their soccer fanatic son Ansel in San Mateo, California.

He also co-authored the E-Business Suite, Manufacturing and Supply Chain, Oracle Press handbook. You can also trace his thinking on GRC at ISACA's international conferences over the years: An Overview of Emerging Tools and Technologies for Auditors in 2005, Compliant Access Provisioning in 2006, and Security Provisioning for Outsourced Services in 2008.

Prior to getting interested in the GRC space, you can trace his articles on subjects as diverse as The Convergence of Financial and Supply Chain Planning in Control , the journal of the British Production and Inventory Control Society and Knowledge Management, The Application of Manufacturing Theory in Knowledge Based industries in Management Accounting , the journal of the Chartered Institute of Management Accountants.

Acknowledgement

Firstly I would like to thank Steve Miranda, the head of Oracle's Fusion applications development for granting us the permission to write this book. He also made the grave mistake of recruiting me onto his team and paying attention to me when I was bleating that this Enron issue was going to mean that audit was going to have to be automated. Steve really is a great leader and it has been a great learning experience to watch him guide the ship of impossible dreams that is Fusion, and quell the storms, not only of outrageous fortune, but the tempestuous spirits that are the management team at Oracle.

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