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COMPLIANCE IN THE ENTERPRISE
Why has regulatory compliance become such a prevalent concern for the enterprise? WhatIs.com has an interesting take. "Perhaps because of an ever-increasing number of regulations and a fairly widespread lack of understanding about what is required for a company to be in compliance with new legislation. "
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SARBANES-OXLEY COMPLIANCE
Sarbanes-Oxley (SOX) compliance is everyone's problem. According to WhatIs.com, Sarbanes-Oxley is not a set of business practices and does not specify how a business should store records; rather, it defines which records are to be stored and for how long. And because the consequences for noncompliance are fines, imprisonment, or both, this legislation affects not only IT, but the financial and business sides as well, making it an enterprise-wide concern.
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HIPAA / HEALTHCARE COMPLIANCE
In April 2005, HIPAA Title II took effect. While some in the healthcare industry have been dealing with HIPAA since its passing in 1996, Title II brought the majority of the industry into the fold, including many of smaller and midsized enterprises.
Because of this, compliance spending on HIPAA is expected to exceed $3.7 billion for 2005, and account for 24% of total spending, according to a survey conducted by AMR Research last year.
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COMPLIANCE AND AUDITING
IT auditor Matt Zerega defines the auditor's role in the enterprise.
"In the simplest terms, IT auditors provide executive management with our independent assessment of the effectiveness of controls put into place to protect information, hard assets and people from potential damage. We help determine what areas of IT might need attention to reduce risk to levels that management finds acceptable. We don't, however, recommend how to fix any flaws we discover."
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