Introduction to Entity Classes in GRC Systems
In Governance, Risk, and Compliance (GRC) management, Entity Classes play a vital role in organising and categorising the various elements within the system. An Entity Class functions as a mandatory tag for all entities and is crucial for distinguishing and meaningfully organising these entities for effective reporting and management.
Key Characteristics of Entity Classes:
Unique Membership: Each entity within the system can belong to only one Entity Class. This exclusivity helps define and categorise the entities clearly for specific reporting and management purposes.
Distinct from Entity Groups: Unlike Entity Groups, which are used primarily for bulk creation and management of entities along with their associated risks and controls, Entity Classes are used for precise categorization and reporting. An entity can belong to multiple Entity Groups but is restricted to a single Entity Class.
Entity Classes enhance the functionality of a GRC system by providing a structured approach to entity management. This facilitates more efficient and targeted risk and compliance operations.
How to Add an Entity Class in BoardX (Admins only)
To add an Entity Class to an entity in BoardX, follow these steps to ensure proper configuration and categorization within your BoardX system:
Open BoardX and click 'GRC List' on the left-hand navigation bar.
Under the 'Scoping' section, click on 'Entity Classes'. This will take you to the page where you can view and manage all entity classes.
View Existing Entity Classes: On the Entity Classes page, you will see a list of existing classes. System default entity classes include 'Users', 'Regular Users', 'Employees', and 'Authority Framework Role'.
Create a New Entity Class: Click the orange 'New' button at the screen's top right.
Enter Entity Class Details:
In the creation form, fill in the 'Entity Class Name' and provide a 'Description' for the new class to clarify its purpose or role within your organisation.
You can also select a 'Parent Class' to build or reflect your organizational hierarchy. This helps you structure your entities more systematically.
Save the New Entity Class
Next Steps
Linking New Entities:
With the new Entity Class now added, the next time you add a new entity to the system, you will be able to link it to this class, ensuring it is categorized correctly according to your organizational structure and compliance requirements.
Example of Entity Class Hierarchy
This process not only helps maintain a well-organized GRC structure but also enhances the accuracy and efficiency of your compliance and risk management efforts.