BusinessCompany NewsIT directors to feel audit pressure

IT directors to feel audit pressure

IT directors are likely to come under more pressure from the boardroom to carry out audits and provide better data on enterprise performance, following the government's publication last week of the Combined Code of Corporate Governance.

Link: Higgs report in-depth

IT directors are likely to come under more pressure from the boardroom to carry out audits and provide better data on enterprise performance, following the government’s publication last week of the Combined Code of Corporate Governance.

The long-awaited code, drafted in the wake of the Higgs review, is designed to improve the management of public companies, to deliver shareholder value and boost transparency in the wake of a string of corporate scandals.

The Combined Code, which adds to previous recommendations, places a hugeemphasis on internal and external audits to ensure proper riskmanagement.

This is likely to have a big impact on IT departments, particularly wheremission-critical systems are concerned, as the report labels IT as ‘a significant risk’.

Only 16% of firms carry out continuous internal audits on IT, and only 5% carry out continuous external audits, according to research among 400 blue-chips by sister magazines IT Week and Financial Director, sponsored by IT supplier Unisys.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

4m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

12m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor