Responsibility

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A Responsibility identifies an activity, function, or outcome that a Party is expected to perform, oversee, or manage.

A Responsibility may arise from an Agreement, organizational assignment, Role, policy, law, regulation, or other authoritative source.

Within an information model, a Responsibility is represented separately from the Party or Role to which it is assigned. This separation permits the model to identify the source, scope, applicable period, and evidence for the assignment.

assigned duty of a party to perform or oversee a specified activity or outcome

Adapted from:

• ISO 9001:2015, Quality management systems — Requirements, Clause 5.3, Organizational roles, responsibilities and authorities
• OMG Commons Ontology Library, Parties and Situations Ontology
• Financial Industry Business Ontology, Responsible Party

• A Responsibility identifies what a Party is expected to perform or oversee
• A Responsibility may be assigned directly to a Party or indirectly through a Role
• A Responsibility may be shared by more than one Party
• A Responsibility may be limited by subject, activity, jurisdiction, or applicable period
• A Responsibility is distinct from the authority or Permission to act
• A Responsibility is distinct from an Obligation, although a Responsibility may be established by an Obligation
• Responsibility does not necessarily imply exclusive responsibility or legal liability

Under a reporting agreement, a reporting agent is assigned responsibility for preparing and submitting transaction reports.

The responsibility identifies the reporting activity assigned to the reporting agent. The related contractual terms determine whether that responsibility also constitutes a binding Obligation.