COMPLIANCE: WHAT TO STORE AND WHY

摘要

The greatest challenge companies will face in complying with data storage regulations in 2004 is that the compliance agenda is about far more than just tweaking existing accounting packages. The welter of new governance standards coming into force embraces IT systems across the enterprise, rather than just financial applications, as was the case in the past. Systems as diverse as customer databases, content management programs, collaboration tools and human resources may have to knit together. The legislation is not just about setting new standards of transparency and accountability, but about turning governance into an ongoing issue - a culture that seeks to deepen and broaden information flow and reporting. Organisations face a variety of different kinds of legislation, yet there is a common set of process arrangements that, when in place, address many of the demands. In relation to IT, four areas can be identified: 1. Clear and documented authorities and accountabilities: chief executives must relate properly to chief information officers, who must in turn be clear about the demands being made on IT managers 2. Robust risk management systems covering operational, financial, credit and other types by sector: many companies do not have extensive or well-developed systems 3. Sound financial controls, which means sound financial systems 4. A well-developed audit framework for collecting, collating and delivering management information.