Manage information risk

Loss and Discovery

Reliable information retrieval depends on proper coding, storage, volume management and security. Corporate litigants who can't produce emails, spreadsheets, video or other digital media during eDiscovery can face sanctions or summary judgments; their lawyers may take heat from the bar. But withheld evidence is not always the issue: execs and IT specialists often work in distinct branches of information architecture, and can honestly differ on data specifics. And technical foul-ups are ubiquitous. Backups are lost or deleted. Files renamed or relocated. Data is more often hard to find due to human error or routine maintenance than to ill intent.

 
Most companies don’t understand the risks posed by their information until it’s too late. Key challenges lie in balancing the desire for data control with the need for access and apportioning greater spending to higher risk data sources. A simple framework can enable organizations to better identify and understand their riskiest data and prioritize IT, security and other spending.

Tackling Information Risk

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The proliferation of electronic information presents new management challenges to balance risk in the high-stakes legal environment of the information age.
  • Balance information risk management interests with business needs.
  • Develop an information risk management approach that doesn't hinder your workforce, overburden your IT staff and cause unwarranted risk.

What is the PwC Fraud Forum?

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Information is an organization’s most valuable asset. However, the law of diminishing returns applies: the more data an organization retains, the less its value.

 

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Realizing the benefits of Information Risk Management

Effective information risk management can save you time and resources. Preparedness is pivotal. Without it, your company can find itself casting about for crucial information while the legal or regulatory system stands by waiting for your entity to come up with answers. Such a disjointed response can waste time and money and leave the organization at a credibility deficit, complicating an already critical situation. It doesn't have to be that way. You can streamline your response and we can help: Learn about records retention and data mapping to help your responding attorneys know what they have and where to find it. Enable the entity to preserve and access electronic data that might be crucial in the courtroom or at the settlement table; eliminate inconsistencies and gain better understanding and stronger oversight over your legal hold processes to boost confidence in their effectiveness — from within and outside your company. Get strategic advice and insight about defensible discovery practices; present high-level testimony from highly credible witnesses; and make informed decisions about the right discovery vendors for your needs. Analyze and enhance your relationship with outside counsel to make the most of your investment. PwC can help you exert control over your information management now, positioning you to field the array of data requests that might come your way. Our breadth of experience and deep industry knowledge can help you develop an efficient information risk management approach that agilely answers calls for data and builds resiliency against risk.