In an environment of compliancy laws, regulations, and standards, information technology (IT) departments in organizations must develop comprehensive organizational policies to support compliance. One specific area in which they must develop policies is the governance of fiduciary responsibility.
As changes occur in compliancy laws, regulations, and standards regularly, IT management of YieldMore has decided to evaluate the governance of fiduciary responsibility within the organization as it pertains to the IT department.
You are asked to identify the relationship between fiduciary responsibility and organizational risk, and present this information to the IT management of YieldMore.
1. Identify key stakeholders, (CEO, CFO, CIO, customers, suppliers) their roles and responsibilities, and the impact of fiduciary responsibility on each.
2. Determine the relationships among these stakeholders, the relationship between fiduciary responsibility, and organizational risk for each.
3. Distinguish the identified relationships as they relate to strategic, operational, and compliancy goals for the organization.
4. Develop an appropriate plan to govern fiduciary responsibility for the organization.
5. Prepare a brief report or presentation of your findings for IT management to review.