Compliance, Convergence and How IT Fits

There are more government rules for companies to follow, more departments required to follow them, and more legal risks for not doing so. Proactive executives can use IT to design and implement an effective compliance program to coordinate an organization’s various compliance processes.

By Matt Podowitz and Brian Tretick, Risk Advisory Services, Ernst & Young found on CIO.com

With compliance emerging as one of today’s most prevalent business issues, multiple corporate functions are beginning to converge in a federated approach to addressing quality, risk and overall compliance management. This convergence, though arguably a more efficient approach, may not be an intuitive state for policies and processes traditionally created in silos. Nor is convergence always a logical process for the people who operate, manage, and implement those policies and processes.

As the visibility of compliance continues to rise, there is a concurrent increase in the importance placed on information technology and the role of the CIO. Like other parts of the enterprise responsible for risk and compliance, IT’s mandate has expanded in the post-Sarbanes-Oxley (SOX) environment. Beyond the traditional charge that comprises the fundamentals of keeping the lights on and the company out of trouble, IT and the CIO now share responsibility for making the business better. Ironically enough, one of the most "siloed" of functions has become one of the most well-positioned to do just that.

Read the rest of this fantastic article on cio.com