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.