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County of Hawaii, State of Hawaii <br />SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued) <br />Fiscal Year Ended June 30, 2014 <br />SECTION II - FINANCIAL STATEMENT FINDINGS (Continued) <br />Ref. <br />No. Internal Control Findings <br />2014-003 Information Technology (IT) Governance - Significant Deficiency <br />Condition: During our audit, we noted that the County does not have a formalized process to <br />review IT plans and priorities and significant IT related projects and investments that <br />support financial reporting. <br />Criteria: A formal IT strategic planning and risk management process is in place to support <br />financial reporting requirements: <br />• A management steering committee is responsible for reviewing and approving IT <br />plans and priorities. <br />• An assessment of IT risks, including the risk of fraud, is performed regularly and <br />any identified risks are appropriately addressed. <br />Cause: The County has not formally documented IT Governance policies and procedures. <br />Effect: The lack of formalized IT governance policies and procedures could limit the <br />County's ability to respond to risks and changes in a timely manner that could <br />adversely affect continuity and quality of service. <br />Recommendation <br />We recommend that the County formally establish an IT management steering committee that <br />meets on a regular basis in order to evaluate IT risks and to ensure that identified risks are <br />appropriately addressed on a timely basis. <br />W <br />