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IT risk assessment

While you may have ambitious plans for your business, your IT systems may not be robust or scalable enough to support future growth.

In all but the simplest of businesses, the IT systems are complex and sophisticated. They may also be critical to the ongoing operation. Have your systems grown in an ad hoc way, with components and software being acquired or developed as the business required them? If so, they may already represent an unacceptable level of risk.

At BDO, we use the SPARK checklist to analyse IT systems. This takes into account:

Scalability       Will your systems expand as your company grows? Are they robust and secure?

People             Do you have the right internal and external human resources in place? Are you overly dependent on them?

Architecture     Is the system based on open, standard technologies? Can it be integrated with other systems to avoid creating data islands?

Risk                  Have the risks associated with each system and project been analysed and planned for?

Knowledge      Are your systems giving you the information you need to grow your business effectively?

Using the SPARK checklist, our approach to IT Risk Assessment encompasses:

  • An analysis of all aspects of IT systems, including hardware, software, reliance on key people or external suppliers, interruptions or interference caused by inadequate security, and legal issues.
  • A review of relevant documentation about the business and systems.
  • Interviewing key members of staff and third parties.
  • Understanding the potential risks, vulnerabilities, anticipated demands and current procedures.

How does this benefit your business?

  • Addresses the 'big issues' quickly and at low cost.
  • Alerts management to future problems/risks.
  • Enables informed decisions about appropriate courses of action.
  • Provides advance knowledge of the options/risks involved with future expansion of the system.

If you would like to find out how we can help your business, please contact John Dennison or your local BDO advisor.

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