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Impact Of Legislation On Corporate Security Spending Trends

A poll of corporate executives published Monday found that companies are increasing spending on security to satisfy legislation--not necessarily because their CEOs have seen the light.. . .. A poll of corporate executives published Monday found that companies are increasing spending on security to satisfy legislation--not necessarily because their CEOs have seen the light. The study of 7,500 senior information technology executives found that 62 percent of companies will increase security spending in 2003, compared with 50 percent in 2002. The top reason for the increase in funding security programs was to satisfy legislation such as the Sarbanes-Oxley Act, which holds executives accountable for their company's disclosures. "Sarbanes has had an impact; there is no doubt about it," said Joe Duffy, lead partner of accounting firm PricewaterhouseCoopers' Security & Privacy Solutions practice. Duffy believes that executives want greater assurances from their IT departments that their systems are secure and can be audited. Almost two-thirds of those polled said they adopted security measures to limit liability, and almost half said it was to comply with regulations. Only 37 percent of participants said adopting security measures was prompted by a fear of a security incident that affects revenue, or because experts have long recommended such precautions. The link for this article located at ZDNet is no longer available. . A poll of corporate executives published Monday found that companies are increasing spending on secu. corporate, executives, published, monday, found, companies, increasing, spending. . Anthony Pell

Sep 30, 2003 • Anthony Pell Government