What’s in a Name?

IT Section Renamed to Information Management and Technology Assurance

Names have power. Corporations invest millions of dollars and countless hours of focus group sessions before a major name change. Names provide insight into an entity or company’s background and mission. They also help us infer certain characteristics about an organization or set expectations for how it delivers a particular product, service, or experience.

Consider these famous name changes for a moment. Would Google be as ubiquitous if it had kept BackRub as its name? Would the cola wars rage on if Coke were competing against Brad’s Drink or against its newer moniker, Pepsi? Innovation, mergers or a decision to move in a different direction can lead companies, organizations and other entities to outgrow their names.

Quite simply, a name change allows organizations to better reflect their purpose and what they offer. For this reason, the AICPA renamed the Information Technology Section to the Information Management and Technology Assurance Section.

Members were quick to point out in the Top Technology Initiatives survey that information technology is just part of their competencies. Their professional duties and responsibilities range from managing reporting and analytics to overseeing system implementations, or from helping prevent data breaches to ensuring the privacy of customer information.

What does the new Information Management and Technology Assurance Section name mean? Accounting professionals with information management expertise may manage data, oversee system implementations, leverage the cloud computing environment, and help maintain transparency in business reporting. Technology assurance addresses the risks, controls and governance associated with technology to ensure the highest levels of security, privacy and transparency.

If you are a CPA or accounting professional involved in information management and technology assurance, learn more at aicpa.org/IMTA. As what you do grows and changes, the value and support that we offer will, too.

Janis W. Parthun, CPA, CITP, CGMA, Senior Technical Manager, American Institute of CPAs. Janis has responsibilities for both the IMTA Section membership and CITP credential program. Prior to joining the AICPA, Janis worked at Grant Thornton, LLP as an internal controls manager within their Business Advisory Services group.