The Reshaping of the CIO in the Era of SarbOx
Q&A: The compliance imperative varies but can account for as much as 30 percent of an executive's time in an industry like banking, says Gartner analyst French Caldwell. You're either up to date or you're out of luck. (Baseline)Gartner analyst French Caldwell has been covering governance, compliance and risk management since 2002. In a recent conversation with Baseline, he spoke about the regulatory developments affecting information-technology executives. Those include Section 404 of Sarbanes-Oxley, which requires public companies to have certain internal controls in place, and indications that the Securities and Exchange Commission and the Public Company Accounting Oversight Board (PCAOB) will relax some requirements for smaller companies Baseline: Its been five years since the Department of Justice said it was investigating Enron. How much has the job of a technology executive changed because of that?
Caldwell: I talked to the CIO of a very large bank recently, and he said that 10 years ago his senior managers spent 10 percent of their time on compliance issues. Now they spend 30 percent of their time on compliance issues.