IT Risk and Governance

IT (Information Technology) risks refer to the potential threats that could be faced by a company as a result of the technology it uses for research, communication, control and...

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IT (Information Technology) risks refer to the potential threats that could be faced by a company as a result of the technology it uses for research, communication, control and delivery on a day to day basis.These risks need to be managed to ensure that a company does not face economic losses, collapse or even legal action due to data loss.IT governance is not an isolated discipline but an integral part of enterprise risk governance. While the need for governance at an enterprise level is driven primarily by demand for transparency across enterprise risks and protection of shareholder value, the significant costs, risks and opportunities associated with IT call for a dedicated, yet integrated, focus on IT governance.

NS global provides the IT governance framework, structures, processes, assurance and information aligned to enterprise business strategies and objectives, enabling the enterprise to take full advantage of IT, maximizing benefits, capitalizingon opportunities and gaining competitive advantage. NS Global assure enterprises that IT governance is a combined business and IT issue that requires a business-driven approach.

This is done through ensuring that the information technology it employs is reliable and secure.A company employs IT to ensure maximum production, gain a competitive advantage and remain relevant in the business world. NS Global Consulting offers IT risk governance assurance and consultancy services.

Firms have different reasons for coming up with IT governance frameworks. These may be to ensure that the IT they employ is in line with their business objectives, optimization of IT resources, legal requirements and corporate governance requirements.

IT governance is currently being placed at the forefront of many companies as they realize the importance of ensuring their information is well protected to boost their organizational performance. Boards of management of different companies are looking keenly into this area before business ventures such as mergers and acquisitions. In this way, IT governance has a major part to play in the decision making by boards of companies and is thus important to consider. An IT risk management consultant is an individual or firm that provides professional advice on the control of risks brought about by the use of information technology by a company. These consultants come up with a framework that will ensure minimal losses to the company through their use of IT.

The role of a risk assessment consultant is to identify potential threats to the company and provide advice on how to curb these risks or ensure they only pose minimal losses to the company. In terms of IT governance, a risk assessment consultant will search for loopholes in a company’s IT governance framework. These loopholes increase a company’s risk exposure and thus after their identification a risk assessment consultant should provide solutions to mitigate them.

In a world where globalization has come into play in different spheres of life, a company cannot afford to ignore the risks posed by its IT governance. Such a company must therefore, in partnership with IT governance and risk consultants such as NS Global Consulting, come up with an IT governance framework that ensures optimal performance of the company and minimizes risks facing the business.

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Financial Management
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