Information Security Management Still Number One Concern

AICPA 2008 Top Technology Initiatives Survey Shows Other Changes

New York, NY (January 09, 2008) – Information Security Management will be the most important initiative affecting IT strategy, investment and implementation in business organizations over the next 12-18 months, according to the American Institute of Certified Public Accountants’ 19th Annual Top Technology Initiatives survey.

IT Governance moved up the list from sixth to second place this year, reflecting the market’s renewed emphasis on corporate governance and responsibility. “We believe this year’s list is reflective of our environment, with the top four technology initiatives relating to strategies that safeguard an organization’s assets and ensure its well being,” said Barry Melancon, President and CEO of the AICPA.

“This survey enables CPAs to stay up-to-date on the latest technology initiatives to advise their clients, customers and employers on the strategies they should consider undertaking,” Melancon said. The AICPA poll was conducted in late 2007 with ISACA, the Institute of Internal Auditors (IIA) and the Information Technology Alliance (ITA).

Respondents identified the Top 10 most important technology initiatives for 2008 as follows:

  1. Information Security Management
  2. IT Governance
  3. Business Continuity Management and Disaster Recovery Planning
  4. Privacy Management
  5. Business Process Improvement, Workflow, and Process Exceptions Alerts
  6. Identity and Access Management
  7. Conforming to Assurance and Compliance Standards
  8. Business Intelligence
  9. Mobile and Remote Computing
  10. Document, Forms, Content and Knowledge Management

IT Governance moved up the priority ranking to second place from sixth place last year. “Recent studies show that investors are willing to pay a premium of up to 20 percent more for shares of enterprises with reputations for good IT governance practices; properly governed IT is critical to an organization’s success,” said Lynn Lawton, International President of ISACA.

Business process improvement was number five on this year’s list, reflecting thesignificant focus placed on internal controls to reduce error and fraud by both public and private companies. “Clearly, business process and workflow documentation has increased in importancewithin organizations today,” said Heriot Prentice, Director of Standards and Guidance for the IIA.Mobile and remote computing was also cited as a priority. “Organizations are realizingsubstantial gains in efficiency and worker productivity through the extended office hours andincreased flexibility that mobile and remote computing solutions bring,” said Ron Eagle, ITAPresident. For a complete list of definitions and more information on the list, visit www.aicpa.org/toptech.

Methodology
In addition to its Certified Information Technology Professional (CITP) Credential holders and IT Section members, the AICPA collaborated with the IIA, ISACA and the ITA because their members share similar perspectives on the top technology initiatives impacting business today. The survey was conducted in Fall 2007 under the supervision of a task force led by David M. Cieslak, CPA.CITP, GSEC, and Chairman of the AICPA’s Information Technology Executive Committee. A selective group of 1,169 finance, accounting and technology participants ranked 29 technology initiatives they felt would have the most significant impact on their organizations in the next 12 to 18 months.

About the AICPA
The American Institute of Certified Public Accountants (www.aicpa.org) is the national, professional association of CPAs, with more than 350,000 members, including CPAs in business and industry, public practice, government, and education; student affiliates; and international associates. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies; federal, state and local governments; and non-profit organizations. It develops and grades the Uniform CPA Examination.

The AICPA is the sponsor of a national public-education effort called 360 Degrees of Financial Literacy (www.360financialliteracy.org), designed to improve the financial understanding of Americans at all age levels. A related campaign, Feed the Pig (www.feedthepig.org), co-sponsored with the Ad Council, is designed to help Americans aged 25 – 34 save for long-term financial security.

The AICPA maintains offices in New York, NY; Washington, DC; Durham, NC; Ewing, NJ; and Lewisville, TX.

Media representatives are invited to visit the AICPA Online Media Center atwww.aicpa.org/Media+Center.

More information is available on the Web about the AICPA’s partners in the survey at www.isaca.org, www.italliance.com and www.theiia.org.