Companies are spending so much of their IT budgets on complying with regulations such as Sarbanes-Oxley and the European Union's 8th Directive that they are neglecting other security threats, according to a new survey published today.
Ernst & Young's annual security survey found that compliance with regulations had become the key driver for information security spending at nearly two-thirds of companies around the world, eclipsing concerns such as protection against computer viruses and worms.
Regulations stipulating that company executives take personal responsibility for the accuracy of corporate data, such as accounts, have caused many companies to tighten internal IT controls, ensuring for example, that only authorised employees have access to accounts databases.
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