ITA Compliance Roundtable: notes
Thursday, October 19th, 2006
“Our first ITA Compliance Roundtable session was very productive for all involved. About 40% of the pre-registered showed up for the 8:00 time slot…those that were there represented a wealth of knowledge and expertise in many facets of the IT world. Thank you for all your input and discussions with our panelists!” - LF. Gibson
Here’s a Summary of some of the main topics discussed in response to the 4 “pre-loaded” compliance questions for this season:
What Issues are facing SMB IT Managers today that relate to Corporate Compliance?
- Frank Reidelberger fielded this question to start – and discussion was opened to the group.
- Privacy Issues was a big topic – how it’s effecting their own IT departments, the accountability of the Company, and protection of internal data and Customer Information.
- Corporate Security Today – Where are the Controls that fit into Compliance Management?
- What effort can you department contribute to ‘decoding’ compliance and in the mean time, get more funding?
What IT Management can do to ensure that IT efforts align with corporate objectives?
- Steve MacGill fielded this question to start – and discussion was opened to the group.
- Steve explained how can IT bring their Departmental concerns of IT to the boardroom and get the respect and funding to be Proactive instead of Reactive?
- Ideas were discussed on how IT can be the leader in Supporting – Growing – Transforming any company in the wake of Sarbanes Oxley audits and preparations.
What IT departments are doing to automate their controls and what could they do to improve their processes?
- Lisa DuBrock fielded this question to start – and discussion was opened to the group.
- Automation is the KEY to successful and cost effective compliance management for any company.
- There needs to be a cross discussion between IT and Finance professionals – so controls can be validated, understood, and reworked – to make everything run better.
- It was brought up that IT take a “Portfolio Management” approach to funding their internal efforts to the company.
- Tidbits for fielding requests for IT projects that link with Compliance management– i.e. some projects will:
- Help run the business
- Aim to grow the business
- Have the potential to transform the business
- SOA? Integration Issues in the future, to AID in Automation of Compliance?
What Rights do the IT departments have regarding the SOX audit procedure?
- Sally Smoczynski lead the discussion on the Radian Compliance: Sarbanes Oxley BILL OF RIGHTS (download for free)
- How to empower your IT department to control the scope of the Audit before anyone steps into your domain.
- How to negotiate with the auditor and prep them for your internal workings and controls – for a successful “pass”.
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