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The idea is that this would apply to executive positions. Right now, CFOs are required to sign off quarterly on the company's financial statements. If those fin
by quanticle 7y ago
The idea is that this would apply to executive positions. Right now, CFOs are required to sign off quarterly on the company's financial statements. If those financial statements are later found to be misleading or fraudulent, the CFO is personally responsible, and can face fines or jail times. What the article is proposing is that IT be held to a similar standard. A CIO should be held personally liable if an IT failure causes an outage that materially affects the finances of the firm or causes customers to lose money.
- pjbster 7y agoNice idea in theory but it can (and will) be gamed. For instance, the CIO will have an auditor sign off on a master checklist of yes/no items which the engineers will then be forced to self-certify any changes against. Any failures after that are "provably" due to engineering not being accurate in their assessment of checklist compliance. What items might we see on such a list? Oh, I don't know... 100% test coverage, perhaps? In the UK this is called Governance. Fancy word for what is, effectively, liability avoidance.