The use of technology in solving the compliance headache is increasing with more businesses realising the extent to which the IT department can ease problems born in boardrooms and finance departments.
This represents something of a turnaround in a situation which previously saw IT departments kept in the dark where compliance is concerned.
According to research from the Economist Intelligence Unit (EIU), 45 percent of respondents to a recent survey said IT's role has "increased greatly" in areas such as security and data protection.
Document retention and financial regulation — issues central to Sarbanes-Oxley compliance — were cited by 33 percent and 34 percent of respondents, respectively, as areas where IT's role has seen a great increase.
And with increased importance comes increased spend. More than half the respondents (53 percent) said annual expenditure on compliance-related IT is increasing by 10 percent per year.
Nigel Holloway, director of executive services for the Americas at EIU in New York, said in a statement: "Companies may not realise it now but in time this will help to involve IT professionals in broader corporate strategy."
Did you find this article useful? 42 out of 89 people found this useful
To participate in the ongoing process of recruitment, development, motivation
and retention of high calibre teams, maximising their performance and ...
You will also liaise closely with other departments to explore new developments, and investigate
complex issues. The BLOOMBERG TERMINAL and ...
Loading Video Player ....
Featured Talkback
There will be further activation issues to watch out for as Microsoft plans to offer a similar service to independent software vendors whereby they can "control" licensing through activation and other measures similar to the Software Protection Platform.
Mobile Linux Better For Mobile Business Apps? Author: Eric Everson, MyMobiSafe.com As mobile Linux is carving it’s footprint on the future of mobile application development, the... More
The Department for Work and Pensions (DWP) has admitted that some of its staff have been forwarding passwords with password protected material. An email that was leaked on the 'Dizzy... More
We got a strange request last week from the head of PR from Russian security experts Kaspersky. It seems although the company was very happy with the interview we recently carried with... More
