Towards a Compliance Reporting using a Balanced Scorecard
Compliance requires an effective communication
within an enterprise as well as towards a company-s external
environment. This requirement commences with the
implementation of compliance within large scale compliance
projects and still persists in the compliance reporting within
standard operations. On the one hand the understanding of
compliance necessities within the organization is promoted.
On the other hand reduction of asymmetric information with
compliance stakeholders is achieved. To reach this goal, a
central reporting must provide a consolidated view of different
compliance efforts- statuses. A concept which could be
adapted for this purpose is the balanced scorecard by Kaplan /
Norton. This concept has not been analyzed in detail
concerning its adequacy for a holistic compliance reporting
starting in compliance projects until later usage in regularly
compliance operations.
At first, this paper evaluates if a holistic compliance
reporting can be designed by using the balanced scorecard
concept. The current status of compliance reporting clearly
shows that scorecards are generally accepted as a compliance
reporting tool and are already used for corporate governance
reporting. Additional specialized compliance IT - solutions
exist in the market. After the scorecard-s adequacy is
thoroughly examined and proofed, an example strategy map as
the basis to derive a compliance balanced scorecard is defined.
This definition answers the question on proceeding in
designing a compliance reporting tool.
[1] C. Menzies, J. T├╝llner, A. Martin, ÔÇ×Compliance Management,"
Zeitschrift f├╝r Organisation (zfo), pp. 136-142, vol. 77, March 2008.
[2] G. Wecker, S. Galla, ÔÇ×Pflichten der Gesch├ñftsleitung und Aufbau einer
Compliance Organisation," in G. Wecker, H. van Laak, ÔÇ×Compliance in
der Unternehmerpraxis," Wiesbaden: Verlag Dr. Th. Gabler, 2008.
[3] C. Menzies, ÔÇ×Sarbanes-Oxley und Corporate Compliance,
Nachhaltigkeit, Optimierung, Integration," Stuttgart: Schäffer-Poeschel,
2006.
[4] A. Teubner, T. Feller, ÔÇ×Informationstechnologie, Governance und
Compliance," Wirtschaftsinformatik, pp. 400-407, issue 5, 2008.
[5] O. Mäder, "Ein Cockpit für den Aufsichtsrat," Wiesbaden: Deutscher
Universitäts-Verlag, 2006.
[6] M. Theisen, ÔÇ×Information und Berichterstattung des Aufsichtsrats," 4th
ed., Stuttgart: Schäffer-Poeschel, 2007.
[7] W. van Grembergen, S. De Haes, "The Balanced Scorecard and IT -
Governance," The ISACA Information System Control Journal, issue 2,
2005.
[8] M. Goeken, R. Knackstedt, "Referenzmodellgest├╝tztes Compliance
Reporting am Beispiel der EU-Finanzmarktrichtlinie MiFID," in HMDPraxis
der Wirtschaftsinformatik, pp.47-57, issue 263, October 2008.
[9] Regierungskommission Deutscher Corporate Governance Kodex,
"Deutscher Corporate Governance Kodex," Version June 2008,
http://www.corporate-governancecode.
de/ger/download/D_Kodex%202008_final.pdf.
[10] C. Stenger, "The Corporate Governance Scorecard: a tool for the
implementation of corporate governance," Corporate Governance: An
International Review, pp 11-15, vol. 12, 2004.
[11] C. Symons, Forrester Research, "Governance Communications,
Measuring And Improving Governance With A Balanced Scorecard,"
2009,
http://www.forrester.com/Research/Document/Excerpt/0,7211,47500,00.
html.
[12] N.N., Report of the IFAC, "Enterprise Governance, Getting the Balance
right," 2004,
www.ifac.org/MediaCenter/files/EnterpriseGovernance.pdf.
[13] F. Caldwell, T. Eid, The Gartner Group, "Magic Quadrant for Enterprise
Governance, Risk and Compliance Platforms," 2008,
http://www.gartner.com/DisplayDocument?id=710516.
[14] N.N., "RSA veröffentlicht Compliance Scorecard zur unkomplizierten
Bestimmung der optimalen Security-Strategie," 2005,
http://www.rsa.com/press_release.aspx?id=5959.
[15] N.N., "Online-Dashboard als Compliance Scorecard," 2009,
http://www.compliancemagazin.de/produkte/ueberwachunganalyse/veriz
onbusiness270409.html.
[16] Horváth & Partners, "Balanced Scorecard umsetzen," Stuttgart:
Schäffer-Poeschel, 2007.
[17] R. S. Kaplan, D. P. Norton, "Having Trouble with Your Strategy - Then
Map It," Harvard Business Review", pp.1-11, September - October
2000.
[18] F. Becker, M. Fallgatter, "Strategische Unternehmensf├╝hrung," 3rd ed.,
Berlin: Erich Schmidt Verlag, 2007.
[19] N.N., Accenture, "Compliance - from ÔÇ×Must Do" to Profit
Opportunity," 2008.
[20] G. Wecker, H. van Laak, ÔÇ×Compliance in der Unternehmerpraxis,"
Wiesbaden: Verlag Dr. Th. Gabler, 2008.
[21] S. Langenbahn, "Erfolgsrezept f├╝r das regulierte Wirtschaftsumfeld -
Sicherheit durch Compliance Management," in A.-W. Scheer, W. Jost,
H. Kindermann, H. Kruppke, ÔÇ×Agilit├ñt durch ARIS
Geschäftsprozessmanagement," Heidelberg: Springer Verlag, 2006.
[22] K. Umnuß, A. Becker, ÔÇ×Corporate Compliance Checklisten, Rechtliche
Risiken im Unternehmen erkennen und vermeiden," Munich: Verlag
C.H. Beck, 2008.
[23] D. Langenscheidt, K. Schreiber, H. H. Grimm, ÔÇ×Compliance und
Risikomanagement - Herausforderungen und Chancen f├╝r
Versicherungsunternehmen," Deloitte White Paper No. 29,
http://www.deloitte.com/dtt/cda/doc/content/de_con_frs_WP29_Compli
ance_und_Risikomanagement_070408(1).pdf.
[24] S. Weber, T. Lentfer, M. Köster, "Einfluss der Corporate Governance
auf die Kapitalkosten eines Unternehmens," Zeitschrift f├╝r Corporate
Governance, pp. 53-61, issue 2, 2007.
[25] N.N., International Chamber of Commerce, Transparency International,
World Economic Forum Partnering Against Corruption Initiative
(PACI), UN Global Compact, "Clean Business is good business," 2008,
http://www.unglobalcompact.org/docs/news_events/
8.1/clean_business_is_good_business.pdf.
[26] E. Vetter, ÔÇ×Compliance in der Unternehmerpraxis," in G. Wecker, H.
van Laak, ÔÇ×Compliance in der Unternehmerpraxis," Wiesbaden: Verlag
Dr. Th. Gabler, 2008.
[27] A. Chaterjee, D. Milam, ÔÇ×Gaining Competitive Advantage from
Compliance and Risk Management," in D. Pantaleo, N. Pal,"From
Strategy to Execution," Heidelberg: Springer Verlag, 2008.
[1] C. Menzies, J. T├╝llner, A. Martin, ÔÇ×Compliance Management,"
Zeitschrift f├╝r Organisation (zfo), pp. 136-142, vol. 77, March 2008.
[2] G. Wecker, S. Galla, ÔÇ×Pflichten der Gesch├ñftsleitung und Aufbau einer
Compliance Organisation," in G. Wecker, H. van Laak, ÔÇ×Compliance in
der Unternehmerpraxis," Wiesbaden: Verlag Dr. Th. Gabler, 2008.
[3] C. Menzies, ÔÇ×Sarbanes-Oxley und Corporate Compliance,
Nachhaltigkeit, Optimierung, Integration," Stuttgart: Schäffer-Poeschel,
2006.
[4] A. Teubner, T. Feller, ÔÇ×Informationstechnologie, Governance und
Compliance," Wirtschaftsinformatik, pp. 400-407, issue 5, 2008.
[5] O. Mäder, "Ein Cockpit für den Aufsichtsrat," Wiesbaden: Deutscher
Universitäts-Verlag, 2006.
[6] M. Theisen, ÔÇ×Information und Berichterstattung des Aufsichtsrats," 4th
ed., Stuttgart: Schäffer-Poeschel, 2007.
[7] W. van Grembergen, S. De Haes, "The Balanced Scorecard and IT -
Governance," The ISACA Information System Control Journal, issue 2,
2005.
[8] M. Goeken, R. Knackstedt, "Referenzmodellgest├╝tztes Compliance
Reporting am Beispiel der EU-Finanzmarktrichtlinie MiFID," in HMDPraxis
der Wirtschaftsinformatik, pp.47-57, issue 263, October 2008.
[9] Regierungskommission Deutscher Corporate Governance Kodex,
"Deutscher Corporate Governance Kodex," Version June 2008,
http://www.corporate-governancecode.
de/ger/download/D_Kodex%202008_final.pdf.
[10] C. Stenger, "The Corporate Governance Scorecard: a tool for the
implementation of corporate governance," Corporate Governance: An
International Review, pp 11-15, vol. 12, 2004.
[11] C. Symons, Forrester Research, "Governance Communications,
Measuring And Improving Governance With A Balanced Scorecard,"
2009,
http://www.forrester.com/Research/Document/Excerpt/0,7211,47500,00.
html.
[12] N.N., Report of the IFAC, "Enterprise Governance, Getting the Balance
right," 2004,
www.ifac.org/MediaCenter/files/EnterpriseGovernance.pdf.
[13] F. Caldwell, T. Eid, The Gartner Group, "Magic Quadrant for Enterprise
Governance, Risk and Compliance Platforms," 2008,
http://www.gartner.com/DisplayDocument?id=710516.
[14] N.N., "RSA veröffentlicht Compliance Scorecard zur unkomplizierten
Bestimmung der optimalen Security-Strategie," 2005,
http://www.rsa.com/press_release.aspx?id=5959.
[15] N.N., "Online-Dashboard als Compliance Scorecard," 2009,
http://www.compliancemagazin.de/produkte/ueberwachunganalyse/veriz
onbusiness270409.html.
[16] Horváth & Partners, "Balanced Scorecard umsetzen," Stuttgart:
Schäffer-Poeschel, 2007.
[17] R. S. Kaplan, D. P. Norton, "Having Trouble with Your Strategy - Then
Map It," Harvard Business Review", pp.1-11, September - October
2000.
[18] F. Becker, M. Fallgatter, "Strategische Unternehmensf├╝hrung," 3rd ed.,
Berlin: Erich Schmidt Verlag, 2007.
[19] N.N., Accenture, "Compliance - from ÔÇ×Must Do" to Profit
Opportunity," 2008.
[20] G. Wecker, H. van Laak, ÔÇ×Compliance in der Unternehmerpraxis,"
Wiesbaden: Verlag Dr. Th. Gabler, 2008.
[21] S. Langenbahn, "Erfolgsrezept f├╝r das regulierte Wirtschaftsumfeld -
Sicherheit durch Compliance Management," in A.-W. Scheer, W. Jost,
H. Kindermann, H. Kruppke, ÔÇ×Agilit├ñt durch ARIS
Geschäftsprozessmanagement," Heidelberg: Springer Verlag, 2006.
[22] K. Umnuß, A. Becker, ÔÇ×Corporate Compliance Checklisten, Rechtliche
Risiken im Unternehmen erkennen und vermeiden," Munich: Verlag
C.H. Beck, 2008.
[23] D. Langenscheidt, K. Schreiber, H. H. Grimm, ÔÇ×Compliance und
Risikomanagement - Herausforderungen und Chancen f├╝r
Versicherungsunternehmen," Deloitte White Paper No. 29,
http://www.deloitte.com/dtt/cda/doc/content/de_con_frs_WP29_Compli
ance_und_Risikomanagement_070408(1).pdf.
[24] S. Weber, T. Lentfer, M. Köster, "Einfluss der Corporate Governance
auf die Kapitalkosten eines Unternehmens," Zeitschrift f├╝r Corporate
Governance, pp. 53-61, issue 2, 2007.
[25] N.N., International Chamber of Commerce, Transparency International,
World Economic Forum Partnering Against Corruption Initiative
(PACI), UN Global Compact, "Clean Business is good business," 2008,
http://www.unglobalcompact.org/docs/news_events/
8.1/clean_business_is_good_business.pdf.
[26] E. Vetter, ÔÇ×Compliance in der Unternehmerpraxis," in G. Wecker, H.
van Laak, ÔÇ×Compliance in der Unternehmerpraxis," Wiesbaden: Verlag
Dr. Th. Gabler, 2008.
[27] A. Chaterjee, D. Milam, ÔÇ×Gaining Competitive Advantage from
Compliance and Risk Management," in D. Pantaleo, N. Pal,"From
Strategy to Execution," Heidelberg: Springer Verlag, 2008.
@article{"International Journal of Business, Human and Social Sciences:51056", author = "Michael Amberg and Dipl. Kfm. Johannes C. Panitz", title = "Towards a Compliance Reporting using a Balanced Scorecard", abstract = "Compliance requires an effective communication
within an enterprise as well as towards a company-s external
environment. This requirement commences with the
implementation of compliance within large scale compliance
projects and still persists in the compliance reporting within
standard operations. On the one hand the understanding of
compliance necessities within the organization is promoted.
On the other hand reduction of asymmetric information with
compliance stakeholders is achieved. To reach this goal, a
central reporting must provide a consolidated view of different
compliance efforts- statuses. A concept which could be
adapted for this purpose is the balanced scorecard by Kaplan /
Norton. This concept has not been analyzed in detail
concerning its adequacy for a holistic compliance reporting
starting in compliance projects until later usage in regularly
compliance operations.
At first, this paper evaluates if a holistic compliance
reporting can be designed by using the balanced scorecard
concept. The current status of compliance reporting clearly
shows that scorecards are generally accepted as a compliance
reporting tool and are already used for corporate governance
reporting. Additional specialized compliance IT - solutions
exist in the market. After the scorecard-s adequacy is
thoroughly examined and proofed, an example strategy map as
the basis to derive a compliance balanced scorecard is defined.
This definition answers the question on proceeding in
designing a compliance reporting tool.", keywords = "Balanced Scorecard, Compliance, ComplianceReporting, Compliance Scorecard.", volume = "3", number = "9", pages = "1712-7", }