CCM looks for GRC-related events by using GRC rules and regulations to identify these events as they happen in various monitored organization datastreams. Financial reporting, and financial transactions generally, are two key data streams in this respect. The problem is that with a variety of reporting and ERP systems in use in most larger organizations, CCM may have to be adapted one-by-one  to all of them to be effective in a holistic sense.

That’s why data with netadata, using a standard taxonomy like those provided by XBRL, is going to help any CCM effort. In this case, CCM software is looking for specifically tagged data rather than just data, in order to test if a GRC event has occurred.  This should make both finding the data and defining the business rules to apply to that data easier because all data is tagged in the same way and one rule need be defined and  applied to the tagged data.

Here at Rivet we have long advocated XBRL not just as a external compliance reporting tool (e.g. to the S.E.C.) but also as an internal control and communication tool. If your organization is intending to implement CCM, then this could be another example of why using XBRL internally could pay dividends .