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IT directors are not getting involved in the strategic planning of corporate governance and compliance projects, despite the importance of the integrity of information and information systems, according to the Economist Intelligence Unit.
A survey of 116 senior executives conducted by the Economist Intelligence Unit for ChangePoint, a provider of governance software, found that 63% of companies did not involve their IT departments at a strategic level when planning for compliance.
Gareth Lofthouse, European director, executive services at the Economist Intelligence Unit, said he was surprised that IT was not being involved at a time when companies are facing huge information management challenges from compliance legislation.
"Only 27% of companies include IT permanently in the compliance team," said Lofthouse, who added that compliance required companies to gather large amounts of historical data - a task that is difficult given the fragmented nature of large organisations' IT systems.
The survey found that a lack of integration in IT systems had added cost and complexity to compliance programmes among 69% of those surveyed. The same number said compliance programmes created a challenging workload for the IT department.
Peter Redshaw, principal financial services analyst at Gartner, said corporate governance legislation would require organisations to report on an increasingly wide range of business processes, forcing them to gather information from more data streams. This will mean users having to store vast amounts of historical data, he added.