I manage the IT Department for a community bank (Inherited the position and learning as fast as I can). One item that has always been drilled at me by auditors, etc is we should have a replacement cycle for our equipment. Mainly speaking our desktops, laptops and servers.
We started doing 1/3 a year for desktops so we were on a moving cycle. The Board stopped this and wants reasons why we should continue the cycle. 1/3 a year equates to about 16 desktops among 3 branches. Besides the obvious that if they all start failing around the same time or cant handle software upgrades, etc.....The expense in one year will be significant.
Then our domain controller. We have it set to cycle in 5 years and they don't want to do that either or upgrade our backup server. 2 very critical pieces of equipment. Not wanting to use their approach and wait until it fails.
And then laptops....We keep 2 for use by officers for meetings and one for IT department when I travel to branches. They are 5 years old and very slow.
Besides these obvious items, I could appreciate input as to the industry standard for equipment replacement and more solid reasons why we should that might satisfy a non-techie board memeber.