Wednesday, 21 March 2012

Internal control frameworks

COBIT

COBIT is a broadly activated framework absolute best practices for both ITGC and appliance controls. It consists of domains and processes. The basal anatomy indicates that IT processes amuse business requirements, which is enabled by specific IT ascendancy activities. It aswell recommends best practices and methods of appraisal of an enterprise's IT controls

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COSO

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) identifies 5 apparatus of centralized control: ascendancy environment, accident assessment, ascendancy activities, advice and advice and monitoring, that charge to be in abode to accomplish banking advertisement and acknowledgment objectives; COBIT accommodate a agnate abundant advice for IT, while the commutual Val IT concentrates on higher-level IT babyminding and value-for-money issues. The 5 apparatus of COSO can be visualized as the accumbent layers of a three-dimensional cube, with the COBIT cold domains-applying to anniversary alone and in aggregate. The four COBIT above domains are: plan and organize, access and implement, bear and support, and adviser and evaluate.

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