ISA, TAU to research operating risk

According to the ISA, failure of or problems in the implementation of technology systems are causing hundreds of millions of shekels in damages to the economy every year.

The Israel Securities Authority and Tel Aviv University are asking public companies to take part in a joint research survey that aims to improve the management of operational risks, in particular regarding the implementation of information technology systems, which, in turn, could result in cost savings. According to the ISA, failure of or problems in the implementation of technology systems are causing hundreds of millions of shekels in damages to the economy every year. The survey will examine operational risks and failures faced by the companies and their impact on costs and spending in an effort to assist them in dealing with future risks. The companies are expected to return the survey to the ISA by the second week of December after which a methodology for risk assessment, pricing and cost impact will be established.