Jul 28, 2002 (08:07 PM EDT)
What You Can Do

Read the Original Article at InformationWeek

  • Make sure the CFO and CEO have a sound grasp of how financial software works, so they can give financial analysts and regulators a clear picture of how systems secure data and promote accounting accuracy.
  • Volunteer to attend analyst meetings so you can present detailed information about financial systems yourself.
  • Learn to talk the talk.
  • Improve your grasp of generally accepted accounting principles.
  • Take advantage of real-time financial technology to provide more information to investors about earnings, more quickly.
  • Consider deploying systems that can drill down to generate geographically detailed data.
  • Roll out features such as executive dashboards that trigger alerts when key indicators are out of line.
  • Insist that the IT department, not the finance department, manage financial applications to avoid potential conflicts of interest.
  • Set up a committee of financial and IT executives to meet regularly.
  • Emphasize a culture of fiscal responsibility in which your department views its budget as shareholders' money.
  • Create a white paper that describes your company's financial-reporting systems and make it available on your Web site.
  • Return to "Priority: Integrity"