Bad governance causes revenue loss

IBM says firms are facing revenue losses and fines as a result of not keeping track of their information, according to Computer Weekly.

According to the 2008 Metadata Market Survey, risk mitigation and data governance are key areas to be addressed in new projects to enable better data tracking through the use of metadata.

The survey found that 67% of respondents said that data governance and data stewardship issues were among the top three metadata-related issues they were struggling with.

Only 28% of audit committee members are "very satisfied" they understand the process that management uses to identify and assess significant business risks, says Earth Times.

This is according to results of the third annual audit committee member survey conducted by KPMG's Audit Committee Institute and the National Association of Corporate Directors.

And, while nine out of ten respondents say their audit committee is more effective now than before the Sarbanes-Oxley legislation was enacted in 2002, many acknowledge there is still room for improvement.

Archer Technologies, a provider of enterprise governance, risk and compliance solutions, has been cited as an overall leader in the June 2008 report The Forrester Wave: IT Risk And Compliance Software, Q2 2008, says eMedia World.

Archer was among a select group of eight vendors that Forrester evaluated based on current offerings, strategy and market presence.

According to the Forrester report, "Archer is the strongest of the Leaders in terms of compliance functionality".