Whatever happened to Fannie Mae?

✍ Scribed by Louis P. Le Guyader

• Publisher: John Wiley and Sons
• Year: 2006
• Tongue: English
• Weight: 61 KB
• Volume: 17
• Category: Article
• ISSN: 1044-8136
• DOI: 10.1002/jcaf.20233

✦ Synopsis

he ongoing Fannie Mae accounting scandal has revealed many aspects of information systems technologies that deserve the attention of all those involved in the corporate governance. In most corporations and financial institutions, information technology (IT) is a service function akin to finance. While the role of the head of information technology remains wide-ranging, this unique executive function has not yet been raised to the senior-most level of legal responsibilities as has the role of chief financial officer (CFO). Yet it is self-evident to many board members, internal and external auditors, and the management of large organizations that without IT and the computer automation of business information, many organizations could not function in their current form or at their current scale.