PwC: Center for Board Governance Creates New Tool

By Rob Starr, Content Manager, Big4.com

According to PwC US’s Center for Board Governance,  some directors are not comfortable overseeing IT for several identified reasons, creating an “IT confidence gap.”  As a result ,PwC has developed a new user-friendly board guide, “Directors and IT―What Works Best^TM

In the guide, the Center introduces its “IT Oversight Framework,” a six-step system that directors can follow to best meet their IT oversight responsibility. These easy-to-follow steps walk the board through a complete process. The guide also shares benchmarks and leading practices that are tailored based on how critical IT is to a company’s particular business model and creating long-term shareholder value.

The second part of the guide offers supplemental reading, giving directors information to better understand IT subjects that they consider relevant to their respective companies. It provides background material, identifies potential rewards and risks, and summarizes what directors should focus on relative to the important issues that are currently top-of-mind among today’s directors.

In addition, the guide includes a checklist to incorporate the IT Oversight Framework and a list of suggested questions for directors to ask management about the various technologies.