Key points related to data governance that management accountants should prepare themselves for specifically related to migrating to the cloud are: Key Considerations : Ensuring the cloud application access controls are robust; determining who can access data and on which device; ensuring the cloud application supports your organizational data management standards
1 Comment - We need to look at the fundamental requirements of data governance in security of our data assets, as accountants are charged with that duty, considering that safekeeping of company assets is in our purview
As we continued in our discussions at the roundtable, I suggested that we talk a bit about companies developing an effective Data Governance Strategy (let’s call it DGS for ease of argument here)
1 Comment - no search term matches found in comments.
Some of my prior TechTalk blogs have tackled issues like effective data governance strategies and reliability of data to drive decision-making. Financial information in traditional ERP systems is trusted, structured, accessible, usable and linked to original sources (in most cases). A strong data governance strategy helps ensure this through effective internal controls, continuous monitoring and risk management
When using Big Data, companies should always consider a data governance strategy, which will help mitigate risk
Accounting and finance technology changes quickly, and an excellent forum for learning about the latest and greatest is also approaching quickly – the IMA 2015 Annual Conference & Exhibition (ACE) in Los Angeles, June 20-24 (if you haven’t registered yet – be sure to do so now at www...
This is a direct weakness in the data governance strategy and policy of the organization, and one that needs shoring up immediately (think weak point in the castle walls with invaders pummeling at it with a catapult – it doesn't take much effort nowadays with more advanced technologies and tools to break through)
Here are a few suggestions to start: Design a sound data governance strategy/plan to make sure your information is accessible, credible, usable and safe
2 Comments - no search term matches found in comments.
This also relates closely to the development and oversight of an effective data governance strategy at the company – CFOs, in their evolving roles as data stewards, data scientists and strategic advisors, also need to ensure that the data governance strategy is in place to ensure that the information they analyze is accessible, reliable and consumable for the analytics
As my recent IMA TechTalk Blog post on developing a data governance strategy points out, most organizations are also lacking plans in this area as well...Companies generally lack data governance strategies
3 Comments - no search term matches found in comments.
Great information in this article about the global expansion of Legal Entity Identifier (LEI) global data standard and its impact in providing both regulators and investors understanding about the relationship between entities and their exposure in the capital markets. With the financial crisis...
3 Comments - However, the real value comes to companies and the marketplace when LEI's is used internally to manage suppliers and internal systems for enhanced data governance. XBRL has never managed to make that leap to enhance data governance for companies internally and still seems more like a regulator drive for public disclosure