News Article - 04 September 2007
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Many internal audit heads believe that IT professionals are not adequately able to communicate IT risks to their board of directors, one accountancy company has revealed.

A study by PricewaterhouseCoopers, the big four firm, found that half of the respondents in the field felt this to be the case.

The study, which was conducted on the behalf of the Institute of Internal Auditors UK and Ireland, also found that despite these figures 98 per cent of companies believe that IT is vital to their strategic future.

Grant Waterfall, partner of risk assurance services at PricewaterhouseCoopers, said: "Boards and audit committees may not have all the skills they need to understand and deal with IT risk, while mechanisms for communicating IT risks to the board may also not be effective enough."

Many companies are now reliant on IT to manage day-to-day processes, using technology such as accounting software and Microsoft Outlook, as well as thr management of sensitive data.

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