News Article - 15 September 2006
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Less than half of all IT executives consider compliance a "critical initiative with full management support", a new US survey has found.

Almost 40 per cent of chief executives added that their IT executives fail to understand regulations well enough to implement compliance policies and technology.

The Business Performance Management Forum (BPM Forum) report, produced in association with AXS-One, said that the shortfall in compliance IT was becoming critical.

While working practices and management priorities have swung behind Sarbanes-Oxley requirements, technical capabilities remain far behind, it added, leaving firms vulnerable.

"This issue clearly represents a serious threat to corporate America," said BPM Forum executive director Donovan Neale-May.

"More than just a matter of building appropriate IT infrastructures and managing information, it represents the potential failure of top management to do the heavy lifting needed to achieve true compliance."

More than a third of the companies questioned, or 36.4 per cent, say that their companies have no processes in place to manage legal failings in electronic records.

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