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CIMA publishes disaster recovery guide

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29th Jun 2016
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The Chartered Global Management Accountant (CGMA) institute has published a guide on how to reboot technology and systems in the wake of a disaster or disruption.

In the guide, the CGMA outlines what it terms ‘business continuity management’, an approach that helps businesses restore normal operations after disasters such as fires, plane crashes and terrorist attacks.

The CGMA is a joint venture between CIMA and the Chartered Institute of Management Accountants in the US.

According to CIMA, the guide is necessary because businesses now operate in a more connected business climate. The risks posed by man made and natural disasters are also increasing steeply, CIMA said. 

“Numerous organisations of all sizes are virtually tethered to a growing number of customers, suppliers and distributors through an extended web of technology systems and processes.

“That connectivity exacerbates the negative impact of a prolonged business interruption.”

The guide includes a framework for developing and maintaining business continuity management (BCM) procedures and the roles and responsibilities of corporate managers and boards.

“In today’s age, where we live in constant danger of operational disruptions, it is alarming that so many businesses do not have an adequate BCM programme in place,” said Gillian Lees, Director of Governance and Risk Research at the Chartered Institute of Management Accountants (CIMA), which co-authored the guide.

“Companies should not wait until the worst-case scenario happens before starting to think about their business continuity management processes.” 

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