Which organization and its membership created the concepts of Principled Performance and GRC?

Which organization and its membership created the concepts of Principled Performance and GRC?
A . IAPP (International Association of Privacy Professionals)
B . AICPA (American Institute of Certified Public Accountants)
C . ISACA (Information Systems Audit and Control Association)
D . IFAC (International Federation of Accountants)
E . IMA (Institute of Management Accountants)
F . SCCE (Society of Corporate Compliance and Ethics)
G . ACFE (Association of Certified Fraud Examiners)
H . The Financial Accounting Standards Board (FASB)
I . IIA (Institute of Internal Auditors)
J . The International Organization for Standardization (ISO)
K . The OCEG community of GRC Professionals

View Answer

Answer: K

Explanation:

The concepts of Principled Performance and GRC (Governance, Risk, and Compliance) were developed by the OCEG (Open Compliance and Ethics Group) community of GRC professionals.

OCEG Overview:

OCEG is a global, nonprofit think tank and community that pioneered the integration of governance, risk, and compliance practices under the GRC framework.

It focuses on helping organizations achieve Principled Performance, a concept that involves balancing objectives, managing uncertainties, and maintaining integrity.

Principled Performance and GRC Development:

OCEG introduced the GRC Capability Model, which serves as a comprehensive guide for aligning GRC practices with strategic goals.

The model emphasizes reliable achievement of objectives, addressing uncertainty, and ensuring ethical behavior.

Why Other Options are Incorrect:

Organizations like ISACA, ISO, or IIA provide valuable standards or guidance in specific areas (e.g., auditing, information systems, etc.), but they did not create the overarching GRC and Principled Performance concepts.

Reference: OCEG Capability Model (Red Book): A detailed framework for implementing GRC practices.

OCEG official resources on the history and mission of GRC and Principled Performance.