The corporate secretary’s role
Where do the general counsel and corporate secretary fit into the IT audit equation? Often in a situation where assessments are completed as a regulatory or compliance requirement, the corporate secretary or general counsel is the sponsor of the IT assessment. The corporate secretary can play an important role as a consumer of information developed as part of the IT audit. The disclosure needs of a company require that management be aware of the control environment of the company and the risks that may reside in business operations. The corporate secretary should ensure that the IT audit’s measurement of inherent and residual IT risk is communicated and understood by the executive team, says Burns. A thorough understanding of each business unit’s risk profile and audit findings is critical to the company’s ability to properly disclose any key events in the financial statements.