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You Thought Sarbanes-Oxley Was Bad? Wait til You See What's Coming

Apr 21, 2009, 21:02 (0 Talkback[s])
(Other stories by Paul Rubens)

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"The new regulations will be introduced as a direct result of the current crisis in the financial markets, and as their scope becomes clearer they will have a huge effect on data center activities, said Chris McClean, an analyst at Forrester Research. "I reckon the impact of these new regulations has the potential to be much, much bigger than Sarbanes-Oxley," says McLean. "The push for new regulation will be enormous. When you look at the amount of people affected by Enron and WorldCom, it's small compared to those affected by the current financial crisis. IT will have to be involved in a big way.

"He believes it's likely that the purpose of many of the new regulations will be to push for better corporate auditability. That's because one of the problems that may well have contributed to the financial crisis is that although banks and other financial institutions had large amounts of information about their businesses, they still made bad decisions because they couldn't access the right information when they needed it.

"Essentially, they made bad decisions because they didn't have the right technology," McClean said. The new regulations will ensure organizations have better control over the activities particular groups can carry out."

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