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Open Compliance and Ethics Group (OCEG) Announces Internal Audit Guide

Open Compliance and Ethics Group (OCEG) Announces Internal Audit Guide

by Rick Turoczy on June 8, 2006

The Open Compliance and Ethics Group (OCEG), a non-profit organization with a mission to help organizations align their governance, risk and compliance (GRC)management activities to drive business performance and promote integrity, announced today the release of an internal audit guide (The Guide) exposure draft.

The Guide is designed primarily for the internal auditor, and it also will help directors, executives and other senior managers charged with governance responsibilities to better understand the issues and processes involved in an internal audit of a compliance and ethics program. An internal audit of a compliance and ethics program will assist in improving the governance practices of an organization.

The Guide describes: the knowledge needed to plan and complete the audit, leading practice information regarding compliance and ethics programs, and other useful resources that will support both efforts.

The Guide’s development was overseen by OCEG’s senior management and Leadership Council, and was written principally by Dan Swanson, President and CEO of Dan Swanson & Associates, Former Director of Professional Practices for the Institute of Internal Auditors (IIA), and a member of the OCEG Steering Committee. Mr. Swanson’s Internal Audit Guide Advisory Group consisted of approximately 50 members with vast experience in audit, compliance, ethics, finance, forensics and legal matters. Already, the Guide is creating “buzz” in the internal audit community.

The Guide can be accessed at www.oceg.org. OCEG encourages interested parties to read and comment on the exposure draft and to direct their comments to iag@oceg.org. The comment period ends July 31, 2006 and final guidance is expected by the fourth quarter of 2006.

Organizations are exposed to governance, compliance and ethical risks daily. Coupled with the current economic, regulatory and social climate, these risks have propelled corporate governance, compliance management and integrity to a top business priority. More than ever, the business community perceives the need not only to articulate the principles of good governance, compliance, risk management, and ethics — but also to integrate these concepts into the fabric of day-to-day business — and use them to drive better performance.

About the Open Compliance and Ethics Group (OCEG)
OCEG is a nonprofit organization that provides a framework (the OCEG Framework) for integrating governance, compliance, risk management, and integrity into the tangible practice of everyday business; drives adoption of the Framework through a multi-industry, multi-disciplinary coalition; and provides a community of practice for the exchange of information, tools, benchmarking and feedback for continual improvement of the Framework. For more information on OCEG and the OCEG Framework, visit: www.oceg.org

Open Compliance and Ethics Group (OCEG) Announces Internal Audit Guide

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