Compliance Consortium Merges With Open Compliance And Ethics Group

Addition of Compliance Consortium will form a technology council to provide technology guidelines and tools to support an integrated governance, risk, compliance and ethics system.

Compliance Pipeline Staff, Contributor

June 20, 2005

1 Min Read

The Compliance Consortium, an organization formed in June 2004 to promote effective governance, risk and compliance management, today said that it has merged with the Open Compliance and Ethics Group (OCEG).

Compliance Consortium members will serve as the initial members of the newly created OCEG Technology Council, with OCEG corporate and technology members immediately eligible to join. Ted Frank, chairman of the Compliance Consortium advisory council and president of Axentis, will join OCEG's overall Leadership Council and lead the newly formed Technology Council.

"The Compliance Consortium has been focused on the important topic of identifying best practices for applying technology to governance, risk, compliance and ethics management processes," said Scott Mitchell, president and CEO of OCEG, in a prepared statement. "We are delighted to incorporate and leverage their work and their membership to further OCEG's broader charter to help organizations align these activities to drive business performance and promote integrity."

The OCEG is represented by 12 distinct industries and enjoys participation from 30 percent of the Fortune 50 and claims more than 3,000 registrations on its website.

"One of the OCEG Technology Council's first objectives will be to expand its membership to include commercial organizations and other technology providers," said Sebastian Holst, president of The Compliance Consortium, in a prepared statement. "Collectively, we will work to provide guidelines and instruction on how to best apply technology to improve governance, risk and compliance management."

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