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Bart Perkins: Avoiding IT audit nightmares

Bart Perkins | May 21, 2013
IT's problems can draw unwanted notice now that Sarbanes-Oxley requires them to appear in 10-K reports as 'material weaknesses.'

Reinforce IT's operational importance. Most executives and board members know that financial, HR and other operational systems depend on IT. But those systems aren't sexy, and they aren't market differentiators, so they tend to be taken for granted. Big mistake. When roads and bridges deteriorate, transportation slows. Similarly, crumbling operational systems slow the enterprise's ability to do business on a day-to-day basis.

IT material weaknesses in a 10-K paint a bull's-eye on the CIO's forehead. Top management might even decide it's easier to outsource IT than to fix it. Not good. Identify and correct IT issues before they land in the public eye. Or start updating your resume.

 

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