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Outline one recent incident where failure to adhere to information governance (in favor of budget) resulted...

Outline one recent incident where failure to adhere to information governance (in favor of budget) resulted in significant financial loss.

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Information governance means to manage the information of an organization so that no one misuses it.

One recent incident coming to my mind is of Facebook, where political intelligence firm Cambridge Analytica has illegally accessed the personal information of around 90 million Facebook users. This is serious failure of information governance. It resulted in potential fine of around $5 billion.

As per my opinion, businesses should make provisions for such unknown losses in budget so that impact on financial statements is minimised.

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