system implementation is not an easy task. And if done incorrectly, can cause
significant headaches for your business and your customers. There are ways,
however, to identify the risks of a system implementation and manage those
risks more effectively.
It's fair to say that an
organization’s strategic goals drive the systems it implements. However, if
those goals and the implementation are not aligned, your organization risks
realizing only part of the implementation's expected value, or worse –
realizing no value at all. Having other risk factors such as errors in
converting or migrating data come to fruition only add to what may already seem
like a monumental undertaking.
Continue reading "How You Can Manage the Risks of a System Implementation" »
Do you expect a right to privacy? Do your clients? The truth
of the matter is that the right to privacy is an ever-changing, ever expanding
concept that continually needs to be redefined. That's especially true when it
comes to ensuring privacy in an IT world. Ensuring privacy, which concerns the
rights and obligations of individuals and organizations with respect to the
collection, use, retention, disclosure and disposal of personal information,
comes with risks.
Continue reading "Ensuring Privacy in an IT World" »
IT risks and compliance are major concerns for many organizations, including
those in public accounting, business and industry, consulting, and government/ not-for-profit.
Organizations that do not understand, or have not considered, the risks
associated with information technology are generally not prepared to mitigate such
risks. As a result they are ill-prepared to face the pressures that accompany
increased vulnerability within the IT environment.
According to the results of the first Regulatory
and Risk Management Indicator
conducted by Wolters Kluwer Financial Services, financial institutions are
feeling even greater regulatory and risk management pressures than ever before
as issues surrounding IT risks and compliance seem to exponentially increase
from year to year. The Regulatory and Risk Management Indicator highlights the
concerns that financial professionals have with risk management and the
obstacles they face in managing those risks effectively.
Continue reading "Managing IT Risks and Compliance: A Growing Major Concern" »
the IT environment is a key issue in today's business world as organizations
attempt to manage the risks in cloud computing, the use of mobile devices and
defending against cyber-attacks. The importance of security is becoming more
apparent each day. Earlier this year, Yahoo
Japan experienced an IT security breach in which the user names of 22
million people were stolen. Back in 2010, Google
reported that it was the victim of a Chinese cyber-attack; a similar attack
is believed to have been launched
against the U.S. government. But it’s not just big businesses and
governments that have to fend off cyber-attacks; small
businesses experience the same problems. Securing the IT environment is
clearly a universal issue and can be a constant challenge when it comes to
Continue reading "IT Security Key Concern for CPAs and Their Clients" »
allows organizations to make more effective use of data in advising clients and
making business decisions. However, the explosive growth in the volume and
complexity of information has increased the risks in managing and retaining
data – which, according to the 2013
North America Top Technology Initiatives Survey, is the top priority for CPAs.
everyone can agree that data management is integral to an organization’s
ability to mitigate risk, an organization whose data management policies and
procedures are insufficient or ineffective is exposed to the consequences of
poor data management. Those consequences could result from poor business
decisions or client advice that was based on incomplete or inaccurate data,
having data stored in outdated or incompatible retrieval formats or improperly
backing up data, which can result in its irrevocable loss.
Continue reading "Managing and Retaining Data: Top Priority for CPAs" »
allows CPA firms to better understand, manage and grow their practices. Yet, it
can come with its own set of challenges when trying to manage and retain data,
secure IT environments and stay in compliance, according to the latest top
technology initiatives survey from the AICPA’s Information Management and
Technology Assurance Division.
North America Top Technology Initiatives Survey, conducted jointly by
the AICPA and the Chartered Professional Accountants of Canada, asked accounting
professionals in public accounting, business and industry, consulting, government,
not-for-profit and other organizations about their top 10 technology
initiatives in 2013. Here's the top 10 in the U.S. and Canada:
Continue reading "2013 TTI Survey Lists Top 10 Technology Initiatives in U.S. and Canada" »