Symptoms: Like security issues, compliance is a significant issue for IT management. Most of the compliance issues arising today have to do with assurance – assuring the consumer or reader of financial information and reports that the information is true and reliable. However, in most systems, one has only to review multiple reports concerning different dimensions of an issue to realize that not all of the data refers to the same things in the same way.

Fixes: Many of the compliance requirements that are being implemented today (including Sarbanes-Oxley, Check21, COSO, etc.) contain concepts of control that are familiar to individuals with a background in banking or finance. Systems will now need to be built as these are, with audit trails that assist in “proving out” data derivation, and a system of controls that allows management to verify and validate the results of the system’s calculations.

Most Commonly Experienced by: All Executive Staff, Boards, and External Advisers

Relevant Services: Strategy, Process, Management: Interim CIO / vCIO