Organizations Hold Business Continuity At Top Of List

There are many different factors in organization or enterprise may feel is a concern that reaches the top of their list. Recently a professional services firm, BDO, conducted research that discovered information security and prevention of information breaches rank low as risk factors in the minds of the majority of large technical firms. The research included concerns that were widespread within the one hundred largest public technology firms in the United States. Fifty five percent of the companies and research included natural disasters, security risks, conflicts, wars, and terrorist attacks ranked as the sixteenth position within the list. Forty four percent of the companies in the research believed that information breaches of technological security, theft, and privacy ranked lower, placing it in the twenty third position of the list. Business continuity seem to rank very high on the list is a concern and worry, comparing conflicts and natural disasters as causes. Aftab Jamil, the Technology Practice leader within BDO, states, “It isn't only the overall difficulty expected as result, but includes the concern of business continuity. Will they be able to recover and get back to where they were? If you suffer a natural disaster, are you able to remain in business?”

Placing eighteenth on the list as the largest risk factors was internal controls, accounting, and Sarbanes-Oxley compliance, which are requirements and awareness of organization security policies and procedures that help to ensure appropriate security measures, documentation, and auditing policies understood by all users as well as management. Jamil noted there is a fear of backlash in the market or a perception that could happen stemming from mistakes in complying with these regulations. “The main risk for companies moving forward, will they experience any large failure, an error or incomplete or wrong use of GAAP accounting rules, which will bring about a new statement of past financials. This brings about the greater costs involved, and the consumer perception of what is going on. The reputation you worked so hard for may take a hit. Because of it, it is possible to see a loss in the value of your shareholders due to the facts of the negative market reaction related to the various negative issues that may occur.”

Information breaches involving technology security, theft, and privacy came in at the twenty third position on the list, which was an increase over the previous year at thirty percent. Jamil stated, “With the amount of media press related to this, I thought it could have been higher on the list. Later, this has the potential to become a more visible problem in the future. It isn't at the top of the list, but it is getting closer.” A larger increase was in the area of companies concerned with correctly executing the various strategies of a company. This is ranked from sixty eight percent of the participants. Very as business strategies and other forces that could affect the company due to economic conditions may be a factor placing information security concerns lower on the research list.

“Organizations focus on executive strategies, attempting to decide what they can gain from the current economic downturn. That takes precedence over many things. It will become a priority when business basics are solid and businesses begin to look at risk from their viewpoint.” At ninety four percent was strong competition from others as a huge risk factor. The failure to create or market new products and services also tied at ninety four percent of the participants believe. The overall economic conditions came from ninety three percent, and the infringement of intellectual property was ranked in the tenth position as seventy four percent of the firms in the research commented. Jamil said, “Businesses are moving to a more global stance. Many locations where organizations do business contain strong legal compliance. In the United States legal, strong protection exists. Still, patent infringement is and remains close by. Somewhere, you will receive notice of an individual insisting patent infringement. Or on the other side, you discover someone trampled over own patents.”

CISSP CBT training is a necessity as it covers the growing issue of information security and data theft. K Alliance is a source of information security certification training, bringing all users and enterprises up to date in the various methods and areas requiring stronger defenses.

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