Friday, April 1, 2011

Board of Directors Increase Focus on IT in the Organization

According to Deloitte, many board of directors view information technology (IT) as crucial to their organizations, given its widespread use at all levels and its role in governance.

Deloitte recommends that IT risks related to compliance with legal and regulatory requirements should be a key part of audit committee members’ discussions with management, the internal auditor, and independent auditors.
"More often, we are seeing companies adding IT to the board agendas. This makes good business sense and helps directors stay abreast of how technology can be used within the organization and to become informed of IT-related matters before they materialize into significant issues." -- Adel Melek, global managing director, IT risk, Deloitte
For the entire report - "The Tech-Savvy Audit Committee", Deloitte Audit Committee Brief, March 2011

In recent related news, Oracle President Mark Hurd, at an all-day conference for Oracle customers, said he thinks corporate boards are going to start taking responsibility for IT security as part of their routine corporate governance duties.
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Sources:
(a) The Tech-Savvy Audit Committee - Deloitte Audit Committee Brief, March 2011
(b) Oracle’s Hurd Says Directors Will Soon Be Auditing IT Security - D | All Things Digital, March 2011

2 comments:

Jerry Bishop said...

I agree with the report and support the notion IT Governance is fundamentally a risk management function. But I also believe IT Governance can be made easy and serve and organization quite well. Especially since so many companies in the SMB don't have capacity for a heavy method.

Alan Norquist - Veriphyr, CEO said...

Jerry, Good point about the needs of smaller businesses. They need an alternative that fit their size and requirements. Often a on-demand SaaS model is the best fit.
- Alan Norquist

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