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Financial Audit

IT Service Funding: Shared Cost, Charge Back or Sponsor Pays

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Senior management must select a strategy to determine who will pay for the information system’s services. Funding is an important topic because departments must have adequate funds to operate. Each funding option has its advantages and disadvantages. The three most common include these:

Shared cost
With this method, all departments of the organization share the cost. The advantage of this method is that it is relatively easy to implement and for accounting to handle. Its disadvantage is that some departments might feel that they are paying for something they do not use.