IT Examiner School, Palm Springs, CA

Development and Acquisition • What is it and its importance? – Purchase, lease, or outsource of IT equipment and software – These perform financial transactions for the entity – Any technology- hardware & software used- needs to be inventoried and controlled • Have a plan – Any technology planned for purchase that will be integrated with the strategic plan – Testing the technology so it will properly integrate with current technology – Have a method for purchasing, leasing, and/or outsourcing the implementation of technology – Implementation date that aligns with the strategic date

D & A ties to Vendor Management

• Most financial entities purchase or lease software and hardware • Standards should be required for dealing with vendors for these products (Vendor Management Program) • Requirements via policies and procedures for ensuring software and hardware are properly maintained – Get updates from vendors • Review process for technology – Determining IT goals and objectives are being achieved – IT solutions working and change management procedures are in place • Management is working with vendors for updates