Overseeing a company’s IT activities is a significant concern for boards of directors. The pace of change in this area is rapid, the subject matter is complicated, and the highly technical jargon used to describe emerging and evolving risks makes this a challenging area. And companies are relying more and more on technology to get ahead, often prompting substantial changes in how they operate. All of these factors can make the board’s IT oversight responsibility appear harder than it is.
What can the board do to bridge the “IT confidence gap?” The board should evaluate its process for IT oversight and ensure it is appropriate. While structured IT frameworks for IT professionals and management already exist, they are not designed for the board’s role, which is oversight.
So, we developed and updated this guide, which includes the IT Oversight Framework specifically for the board’s use. It should help directors determine how to best fulfill this particular responsibility.