But, fifty-eight percent of the survey respondents said their IT spending will increase.
Four years after Sarbanes-Oxley Act's inception, corporate IT departments are having trouble catching up to their finance department counterparts. CEOs and CFOs have taken compliance issues very seriously, especially in the past few years, but their counterparts in the IT department aren't able to effectively implement compliance technologies and policies because they don't fully understand the most recent regulations, according to a recent survey of top-level executives.
Forty-percent of the respondents said their IT executives' knowledge about compliance is not up-to-date, according to a joint survey by trade group BPM Forum and compliance software maker AXS-One. That could leave their corporations stuck in quicksand if a federal agency requests electronic documents during an investigation. For example, nearly 41 percent said it could take them up to a week or more to find e-mails related to a specific transaction.
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