Most of sox revolves around keeping adequate records

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own adequate level of security, operation, etc. Most of SOX revolves around keeping adequate records of financial data. Sometimes, spreadsheets, no matter how complex they are, do not adequately capture an audit trail required for SOX compliance. This
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requires IT to either create or manage a more complicated ERP system. Unfortunately, this ERP system is harder to use and provide for a much more lengthy process which ultimately results in less profit for the organization. Unfortunately, not complying with SOX can result in losing one’s company right to be listed as a public company, denial of insurance, etc. How can a budget be used to implement strategy? Implementing a strategy requires enough resources to support those strategies. The budget would determine which areas need downsizing, upsizing or complete elimination. Budgeting will essentially help an organization plan through what they estimate will be needed for the upcoming year. This process would involve collecting data and putting together spreadsheets to figure out how to allocate money to each area. If IT is given a figure of $1,000,000 to spend a year, it’s fairly difficult to make sure they focus their plans on supporting the organization in the best way possible. IT is also an ever-changing model so it may be difficult to gauge the changes in IT 5-10 years from now so budgets typically need to span a shorter period of time. 3. How is information managed? How have the responsibilities of IT changed in the past 20 years? IT professionals nowadays wear many hats including business leader, compliance specialist, record keeper, risk specialist, auditor, etc. IT professionals simply did not have as many responsibilities for information as they do now. As pointed out in the Harley Case Study, IT was not very important in the early 90s. Most companies had few individuals on staff and it was seen as a non-core business department at best. Things are definitely different now. For instance, IT professionals know full well that outside risks such as viruses can destroy their networks very quickly. Twenty years ago, there were few viruses, and it was not as much of a concern as it is now. IT professionals currently must not only act to prevent threats but they must also act as the “IT doctors” when something malicious happens to restore the computers. What can an (IT) organization do to encourage innovation? An IT organization can have an open mind about new ideas. New ideas tend to be discounted before even really evaluated thus resulting in a company limiting their own knack for innovation. An IT Organization that does not live for new ideas will be gone within time. Some of the detrimental things that IT organizations do to discourage innovation include ignoring the person who has the idea, taking a new idea and trying to put it into the framework of old ideas, forcing “in the box” thinking, or cutting research funds. What these companies can do to alleviate this includes Innovators essentially need to expose ideas to others so that others can remark, converse, etc. about the ideas.
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