Compliance management ontology - a shared conceptualization for research and practice in compliance management

Abstract

The diversity of stakeholders in compliance management initiatives contributes to the challenges organisations face when managing compliance, and consequently adds to the cost of compliance. In particular, there is evidence that the lack of a common or shared understanding of compliance management concepts is a barrier to effective compliance management practice. Taking an information-centric view to addressing this challenge, this paper reports on the development of an ontology intended to provide a shared conceptualisation of the compliance management domain for various stakeholders. The ontology is based on input from domain experts and practitioners, validated and refined through eight case studies, and subsequently evaluated for its usability in practice.