Integrating COBIT with COSO and Other Frameworks

Internal Control Frameworks have been developed by a variety of governing entities to provide organizations with a tool to build a foundation and strengthen internal controls. 

In this informative session, the speaker will introduce COBIT (Control Objectives for Information and Related Technology) which is an Information Technology (IT) Governance framework developed by ISACA (Information Systems Audit and Control Association).  The underlying principle of COBIT is to assist organizations with establishing IT Governance starting with “tone at the top” and flowing downward into business units.  Overall, this methodology is outlined by ISACA through the following phases: meeting stakeholder needs, end-to-end coverage within the enterprise, organizational customization, dynamic homeostasis, enabling a holistic approach, and separating governance from management.

Organizations implement internal controls to protect company assets from fraud, abuse, and misappropriation.  Internal controls can be further expanded within an organization to be a component of an entity’s control environment which is designed to mitigate risks identified as either operational, financial, and/or compliance.  Within an entity’s control environment, technology plays an integral part in carrying out day-to-day operational transactions, and this is why an IT Governance Framework such as COBIT should be deployed within the organization.  

COBIT will assist organizations to establish the “tone at the top” and incorporate information technology through the entity’s control environment with the added emphasis of aligning with the business units for value creation.

• Understand the importance of the IT Governance Framework 
• Understand the importance of the Internal Control Framework
• Overview of COBIT
• Overview of COSO
• COBIT implementation key points
• Stakeholders within COBIT
• Discuss other Frameworks

• Introduction to COBIT ISACA’s IT Governance Framework and its importance.
• Discuss the main principles of COBIT’s Governance System. 
• Discuss the main principles of COBIT’s Governance Framework.
• Introduction to COSO and its importance.
• Integrating COBIT with COSO.
• Key stakeholders in implementing IT Governance.
• Introduction to other frameworks and utilization.

Integrating various frameworks is a strategic imperative for organizations aiming to streamline governance, risk management, and compliance (GRC) processes. COBIT provides a comprehensive framework for IT governance and management, ensuring alignment with business goals and risk management. COSO, on the other hand, focuses on enterprise risk management, internal control, and fraud deterrence. Integrating these frameworks allows organizations to create a robust and cohesive GRC structure.