Financial Daily from THE HINDU group of publications
Tuesday, Jan 24, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 24, 2006 |
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Info-Tech
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Standards & Benchmarks `Compliance spending set to rise in APAC' Our Bureau
Bangalore , Jan. 23 COMPLIANCE was a major issue that made headlines in 2005. Yet, only 21 per cent of Chief Information Officers in the APAC (Asia-Pacific) region have implemented it. According to Serena Software's Asia-Pacific CIO survey, the adoption of regulatory compliance programmes has been low and will increase significantly in the coming year. More than half (52 per cent) are planning to implement compliance in their organisations by the end of this year. While Singapore is leading the change in meeting regulatory compliance standards, Japan and Hong Kong are also seen as leaders in meeting regulatory compliance standards, said the report. "Asia is waking up to the relevance of international compliance requirements such as Sarbanes-Oxley and Basel II to the region," said Mr K.C. Yee, Vice-President APAC, Serena Software. The survey shows that Asian companies currently spend from 5 per cent to 15 per cent of their IT budget on compliance. Over the next two years, they will spend "over 15 per cent" of their total IT budgets on compliance-related activities.
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