Definition of IT governance
IT governance is an element of corporate governance, aimed at improving the overall management of IT and driving improved value from investment in information and technology.
IT governance frameworks enable organisations to manage their IT risks effectively and ensure that the activities associated with information and technology are aligned with their overall business objectives.
Why is IT governance important?
IT governance enables an organisation to:
- Demonstrate measurable results against broader business strategies and goals;
- Meet relevant legal and regulatory obligations, such as those set out in the GDPR or the Companies Act;
- Assure stakeholders that they can have confidence in your organisation’s IT services;
- Facilitate an increase in the return on IT investment;
- Comply with certain corporate governance or public listing rules or requirements.
What is Corporate Governance?
Corporate governance is “a toolkit that enables management and the board to deal more effectively with the challenges of running a company. Corporate governance ensures that businesses have appropriate decision-making processes and controls in place so that the interests of all stakeholders are balanced.”– ICSA, The Governance Institute.
A robust corporate governance framework can help you meet the requirements of laws and regulations such as the DPA 2018 and the GDPR.
For instance, the GDPR requires data controllers and processors to be able to demonstrate their compliance with its requirements through certain documentation, including relevant logs, policies and procedures.
Harnessing the elements of IT Governance will help you create and maintain appropriate policies and procedures to help meet your data privacy requirements.
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