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Ten Principles of IT Governance
In the aftermath of ex-HealthSouth Corporation CEO Richard Scrushy’s 85-count indictment for corporate fraud, 15 others pleaded guilty, including Kenneth Livesay, Senior VP and CIO of HealthSouth. It was the first time that a top-level IT executive paid a heavy price over corporate governance issues.
Many such high-profile scandals have put the spotlight on governance--whether it is corporate governance, enterprise governance or IT governance. The corporate governance gained momentum in the ‘90s, and since then most global stock exchanges support it. It covers the corporate structure, bylaws and formal policies. The enterprise governance is concerned with the way the organization is managed. The Information Systems Audit and Control Foundation (ISACF) defines it as:
“The set of responsibilities and practices exercised by the board and executive management with the goal of providing strategic direction, ensuring that objectives are achieved, ascertaining that risks are managed appropriately and verifying that the enterprise’s resources are used responsibly.”
IT governance is a subset of enterprise governance. ISACF defines it as, “IT governance consists of the leadership and organizational structures and processes that ensure that the organization’s IT sustains and extends the organization’s strategies and objectives.”
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"Either he's dead or my watch has stopped." - Groucho Marx |