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PwC: New Tool to Help Directors Oversee IT
October 26, 2012
By Rob Starr, Content Manager, Big4.com
According to PwC US’s Center for Board Governance, overseeing a company’s information technology activities is a significant concern for today’s board directors.To that end, PwC has just released a new user-friendly board guide, “Directors and IT―What Works BestTM.”
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.
PwC’s Center for Board Governance is a leading resource to enable directors to more effectively meet the challenges of their critical role. The Center promotes excellence in the boardroom by promoting leading governance practices and is dedicated to better enabling boards and audit committees to perform their important roles. To provide timely updates to board members, the Center publishes the Annual Corporate Directors Survey, quarterly To the point, monthly BoardroomDirect, and offers forums for directors to discuss current issues.