AUDITING / COMPLIANCE
Compliance Requirements
Every Australian Industry is required to operate within the framework of standards administered by Standards Australia. These are enforced and regulated by the Australian Securities and Investment Commission and the Australian Prudential Regulation Authority (APRA).
Some specific Industries also endorse 'optional' accreditation bodies from which they gain accreditation once having met a series of stringent requirements.
Understanding and employing the pertinent compliance requirements from an IT perspective can be confusing and frustrating. It can also be very costly if interpreted incorrectly.
ITM Solutions has a wide experience base and established contacts within some compliance bodies enabling accurate information on minimum standards required – from an IT perspective. This allows us to quickly assess and interpret your particular industry compliance requirements and provide a detailed report that clearly describes what your business is expected to have in place to meet them.
For further information, please call our Compliance Advisor on 07 3376 3033
Hardware Audits – Greater Brisbane Region
Unanticipated equipment failure and replacement costs cause financial and operational distress to Australian companies on a regular basis. Conducting a complete hardware audit minimises this risk and allows for the accurate budgeting of funds to support the business operation.
Benefits of a Hardware Audit
- Asset identification, tagging, location and control
- Compiled report of current state and expected lifetime of equipment
- Compiled report on recommended replacement schedule
- Compiled report on expected approximate costs of replacement
- Compiled report for a 5 year budgeting plan.
It is generally recommended that a Software and Licensing Audit be carried out in conjunction with a Hardware Audit as the extra expense incurred is minimal.
Software and Licensing Audits – Greater Brisbane Region
In an online questionnaire posted as part of the BSAA's (Business Software Association of Australia) latest campaign to help Small and Medium Enterprises with Software Asset Management (SAM), 42 % of businesses responding said they did not have correct software licenses and 52% admitted they have no idea whether employees have downloaded or made illegal copies of software.
In an increasingly competitive market, software developers are being forced to bring legal action against illegal usage of their software in order to remain financially competitive. Illegal usage involves using the software without complying with the usage (Licensing) conditions for that software.
As stated recently by BSAA chairman, Jim Macnamara; "To not carefully monitor and manage computer networks and systems is like leaving the back door of your office open day and night.
The security risks are very high in terms of worm viruses received through e-mail or downloads – and there is a high likelihood that unlicensed software is in use leaving a business open to copyright infringement penalties".
A Software and Licensing Audit comprises the following;
- Complete Inventory of all software installed
- A review and analysis of pertinent license documentation
- A review and analysis of the license agreement(s)
- Determination of the platforms on which you have the right to install the software
- Reconciliation of installations and licenses
- A determination of license requirements for production, development, disaster recovery, testing, staging, and quality
- A report detailing the cost involved to meet licensing requirements (When applicable)
What to do next?
Whilst it can be a costly undertaking, an IT Systems Auditing Professional should be engaged to investigate and report on your current situation. A software asset management plan should be included to maintain ongoing legitimacy and control, and to prevent future security risks.
For all enquiries, please call ITM Solutions on 07 3376 3033. Our helpful and friendly staff look forward to assisting you with your requirements.