The Enron/WorldCom scandals drove the need to crack down on intentional fraud, giving corporate executives plenty to deal with in terms of SOX-inspired governance, compliance and risk regulations. Yet unintentional human error can also result in devastating consequences, namely lost revenues and customers. The recent Ace Hardware $152 million accounting shortfall due to human error is just one of many recent examples. In a new report that surveyed over 450 global businesses, the IT Policy Compliance Group sounded an alarm about the severity of this problem: Human error is the main cause of sensitive data loss (75% of all occurrences, with one in every four cases due to violations of company policies).
An effective way to address the problem of human error and take the headache out of compliance and risk management is to implement a well-crafted employee assessment program. With employee assessments, companies can:
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