Management’s Responsibilities in Relation to Information Systems
Explanation
Business is largely dependent on up-to-date computer and software technologies for the recording, storing, processing and reporting of information. The suitability, efficiency and security of information systems are vital to the ability of the business to function effectively.
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Over the time, any asset manager who does more than plan to manage own assets faces the problem of a transparent and convenient management infrastructure.
Recommendation
Management should regularly assess the suitability, security and reliability of the business information systems used by the GP. It should also consider those same factors in relation to the systems used by third parties to whom functions are outsourced.