One man's red tape is another man's gravy
Increased corporate spending for compliance and corporate governance is having a significant impact on IT budgets, says Gartner, and financial compliance management spending will swallow 10–15 per cent of IT budgets in 2006, up from less than 5 per cent in 2004.
In October and November 2005, Gartner sponsored a financial compliance management survey of 326 audit, finance and IT professionals in North America and Western Europe. Preliminary results indicate that compliance initiatives, as defined by the Sarbanes-Oxley Act (SOX) in the US and related regulatory mandates in other geographies, are diverting a large amount of new IT project discretionary resources to support corporate governance efforts.
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