This article considers information as a strategic asset in the organization just as land, labour and capital. It elaborates how information assets help organizations to meet its organizational objectives and also examine issues that led to the proliferation of information assets; because of the proliferation of data and information, it becomes difficult for organization to make effective use of these information assets to meets its objectives. This leads to management of information assets and management of information risk. These two areas are critical to organization. It was concluded that information audit is the effective tool that could be used to manage the information asset and information risk. Also that information policy should be drawn; information professional should be among those handling information-related issues.
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