Toward Better Mapping between Regulations and Operations of Enterprises Using Vocabularies and Semantic Similarity

Abstract

Industry governance, risk, and compliance (GRC) solutions stand to gain from various analyses offered by formal compliance checking approaches. Such adoption is made difficult by the fact that most formal approaches assume that a mapping between concepts of regulations and models of operational specifics exists. Industry solutions offer tagging mechanisms to map regulations to operational specifics; however, they are mostly semi-formal in nature and tend to rely extensively on experts. We propose to use Semantics of Business Vocabularies and Rules along with similarity measures to create an explicit mapping between concepts of regulations and models of operational specifics of the enterprise. We believe that our work-in-progress takes a step toward adapting and leveraging formal compliance checking approaches in industry GRC solutions.