> Next have someone qualified on every single board of directors and have each board create an appropriate sub committee. The same way you have a qualified accountant and audit sub-comittee.
I think it makes sense to note that corporations don't adhere to GAAP voluntarily, or because it makes good business sense. They do it because they will be de-listed from stock exchanges and shut down by the government if they do not.
The stock exchanges won't do this for "tech malpractice." From a financial standpoint, tech malpractice is just another calculated risk. Versus financial malpractice, which creates an unlevel playing field on the stock exchange itself. And history has shown that the fallout from "tech malpractice" ends up costing comparatively low dollar amounts anyway.
This leaves me at: this won't improve without government regulation.
$0 software? Have you ever heard of Washington? The word "Enterprise"?
But the point is taken. So what proportion of $0 software, rapid evolution and innovation has come out of vampire-squid consultancies and their billion dollar revenue streams?
The upper limit of my estimate is 0%.
Having an IT committee on the board of directors is a pretty light regulation. Start with the banks. Your money is just bits on their disk.
Just having some people who get fired when the project costs a billion and fails is useful.
> And history has shown that the fallout from "tech malpractice" ends up costing comparatively low dollar amounts anyway.
Disagree. The cost is instead pushed to the consumer.
How many man hours were involved in fixing HeartBleed?
How much time/money have people lost due to security/tech malpractice at Equifax?
I've never been in a position where _lives_ were on the line, but I have been on projects where bugs would cost the company real money. The engineering mindset changes quickly.
Just because the company found a clever way to shift the cost off their balance sheet doesn't mean it's gone. It's just been hidden.
I think it makes sense to note that corporations don't adhere to GAAP voluntarily, or because it makes good business sense. They do it because they will be de-listed from stock exchanges and shut down by the government if they do not.
The stock exchanges won't do this for "tech malpractice." From a financial standpoint, tech malpractice is just another calculated risk. Versus financial malpractice, which creates an unlevel playing field on the stock exchange itself. And history has shown that the fallout from "tech malpractice" ends up costing comparatively low dollar amounts anyway.
This leaves me at: this won't improve without government regulation.