Your recent article "Gaining Strength From Sarbox" misstated MasterCard CFO Chris McWilton's assessment of a post-mortem of our Sarbanes-Oxley compliance (March 21). Mr. McWilton was quoted as saying we had "found poor documentation of financial controls that could have been automated, but weren't." In actuality, Mr. McWilton stated that we found inconsistent reporting that was being done by hand and could easily be automated for better consistency and efficiency.
Despite the cost and resource commitment required, MasterCard chose to voluntarily comply with Sarbanes-Oxley section 404 guidelines a full two years before the deadline for companies in our category because we strongly believe there's a very important benefit in demonstrating to our shareholders and customers that they can have confidence in our financial-reporting standards. MasterCard consistently works to leverage the changes mandated by the legislation with an eye on achieving greater efficiencies and improved operations at all levels of our organization.
Sharon Gamsin VP, Global Communications
Internet Knows No Borders
What good will U.S. laws do in other countries ("Uncovering Spyware," March 21)? The Internet isn't American. Software isn't American. Most important, viruses, adware, and spyware aren't American. Unlike SARS, a physical virus that was contained for the most part in Asia, the Internet has no water to cross. Its only barrier is a data line.
I applaud you on researching this topic. However, the struggle ahead will undoubtedly prove to be an impossible one to overcome.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.
Top IT Trends to Watch in Financial ServicesIT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Join us for a roundup of the top stories on InformationWeek.com for the week of October 9, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."