New ACDS data finds increased importance of IT
but shows boards challenged in their oversight role
NEW YORK, Sept. 10, 2013 – Information technology is a top priority for today’s boards as directors spend more time on IT and recognize the increased importance of effective IT oversight, according to new research released as part of PwC US’s 2013 Annual Corporate Directors Survey. With technology rapidly changing the way companies do business, more boards are turning to outside consultants for advice on IT strategy and risk oversight. Meanwhile, directors are also taking a close look at their companies’ ability to embrace digital transformation and strategically utilize emerging technologies.
In today’s release, PwC provides an inside look at the area of IT oversight. Conducted in the summer of 2013, 934 public company directors responded to the survey. Of those, 70% serve on the boards of companies with more than $1 billion in annual revenue.
“The technology revolution is significantly impacting the boardroom, prompting directors to increase their time and focus on IT, reconsider their oversight approach and seek new ways to enhance their digital IQ,” said Mary Ann Cloyd, leader of PwC’s Center for Board Governance. “While directors have made notable strides to improve effectiveness of oversight, ensuring IT strategy and risk are woven into their company’s overall business plan remains a challenge.”
Key survey findings include:
For more information or to download all 2013 survey findings specific to IT oversight, please visit: http://www.pwc.com/us/en/corporate-governance/annual-corporate-directors-survey/index.jhtml.
In addition, 2013 survey data on board composition, structure and performance is available for download at: Boards confront an evolving landscape—Board composition and behavior.
Further survey data on the following topics will be available from PwC US as follows:
About PwC's Center for Board Governance
PwC's Center for Board Governance is a leading resource for directors. By promoting leading governance practices, the Center advances excellence in the boardroom 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, monthly BoardroomDirect, and offers forums for directors to discuss current issues.
For more information, please visit http://www.pwc.com/US/CenterForBoardGovernance.
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Katherine Lowry, Edelman