What is local entity in SAP GRC-SPC - GRC Process Controls for SAP?

SAP Term: local entity

• Component: GRC-SPC

• Component Name: GRC Process Controls for SAP

• Description: An entity that exists in relationship to a specific organization, process, subprocess or control. A local entity may exist either as reference to a central entity or a copy of a central entity. If it is a reference it is read-only. If it is a copy it is editable and can be and can be specialized for a specific use.

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• Key Concepts: 
  Local entity is a term used in the GRC-SPC GRC Process Controls for SAP S/4HANA component. It refers to a company or organization that is part of a larger group, but operates independently and has its own legal identity. Local entities are typically responsible for their own financial and operational activities, and are subject to local laws and regulations. 
  
  How to use it: 
  The GRC-SPC GRC Process Controls for SAP S/4HANA component allows users to manage the compliance of local entities within a larger group. This includes setting up processes to ensure that local entities are compliant with local laws and regulations, as well as monitoring their performance. The component also provides tools to help users identify potential risks and take corrective action. 
  
  Tips & Tricks: 
  When setting up processes for local entities, it is important to consider the specific needs of each entity. This includes understanding the local laws and regulations that apply, as well as any specific requirements that may be unique to the entity. Additionally, it is important to ensure that processes are regularly monitored and updated as needed. 
  
  Related Information: 
  For more information on the GRC-SPC GRC Process Controls for SAP S/4HANA component, please refer to the official SAP documentation. Additionally, there are many online resources available that provide additional information on local entities and how to manage them effectively.