Since 1990, the AICPA has been surveying business owners to gain a better understanding of the technology challenges that organizations are facing. This year they expanded the survey to include the most important technology questions that management is constantly wrestling with. Below are the top ten questions that are at the forefront of their minds:
- Are we ensuring that our data and technology resources are protected against hacking, viruses, or other compromises?
- Are we considering/implementing organizational security precautions even though we haven't had a data breach or loss?
- Are our current internal controls and IT governance policies and procedures effective?
- Are we receiving the most relevant and current information from our reporting functions (business intelligence, dashboards, etc.) or are there areas for improvement?
- Have we implemented a sound/appropriate privacy policies and procedures within the organization and for our customers?
- Are we appropriately considering the IT risks associated with the organization in initial planning of any audit or attest engagement?
- Are we capturing the appropriate control objectives during the initial planning of any audit or attest engagement to address the IT risks associated with the organization?
- Should we refresh our core and financial accounting software to leverage technology efficiencies every few years?
- Can our data remain safe if we utilize cloud computing/Software as a Service (SaaS) services?
- Can we deliver on our service and product promises to our customers if we utilize cloud computing/Software as a Service (SaaS) services?
“2010 AICPA Top Technology Initiatives Survey Results.” 1 June 2010. American Institute of CPAs. <http://www.aicpa.org/Press/PressReleases/2010/Pages/TopTech10.aspx.>
For the full list of AICPA technology survey results, click here.
How many of these questions does your company have to contend with?
Contact Eric Wright, Shareholder, Technolgy Advisory Services, to learn how the Schneider Downs technology group can help your organization answer this question.
Schneider Downs provides accounting, tax, wealth management, technology and business advisory services through innovative thought leaders who deliver the expertise to meet the individual needs of each client. Our offices are located in Pittsburgh, PA and Columbus, OH.
This advice is not intended or written to be used for, and it cannot be used for, the purpose of avoiding any federal tax penalties that may be imposed, or for promoting, marketing or recommending to another person, any tax-related matter.