IT governance is a framework that ensures that technology decisions are made in support of the business' goals and objectives. IT governance is the responsibility of the board of directors and executive management. It is derived from corporate governance and is concerned primarily with the connection between business focus and IT management of an organization. The primary goal for IT governance is to assure that the investments in IT generate business value and the mitigation of risks associated with IT.
A steady influx of business regulations is forcing companies to find new strategies that minimize the burdens and maximize the benefits of addressing regulatory compliance. Companies can obtain a range of benefits from regulatory compliance, including more accurate financial reporting, improved visibility of risk, and better IT governance. IT governance is part of corporate governance and it provides the organizational structures to enable the creation of business value within information technology (IT). Part of this process is obtaining assurance that IT investments are only made in beneficial projects and that there are adequate IT control mechanisms. By aligning IT planning with organizational goals, IT becomes a key player in evaluating the business issues that factor into enterprise-wide decision making. Standardized frameworks for IT governance and accounting controls are among the tools available to companies that can be used to link Sarbanes-Oxley documentation activities with corporate IT management procedures. This resource area will provide you with the information and tools to meet the numerous challenges of IT governance and regulation.
Answers for Non-Technical Executive Managers
A video discussion on how CFO's can challenge technology employees to think like entrepreneurs.
Managing IT in a Downturn
During an economic downturn, the impact of good governance of information technology is magnified. CFOs managing IT under current conditions would benefit from keeping these action items in focus.