E-Commerce – COSO and COBIT Are Comparable Frameworks

This textual content material goes to current you be taught among the best methods whereby to to know some similarities and variations between two frameworks: COSO and COBIT. Some important particulars about these two networks is required notably for E-Commerce. COSO and COBIT are comparable frameworks, COSO’s methodology is additional broad-based, fewer complexes, with out heaps technical components and COBIT is additional full, process-orientated, hazard, administration wants, and it relates additional to technical components. COBIT covers high-quality and safety necessities very like effectiveness, effectivity, integrity, availability, compliance, confidentiality and reliability of information. These are the foundations for the administration targets of COBIT.

As acknowledged by the COSO agenda, the tactic of inside administration consists of of 5 components. These make up for a extraordinarily competent framework for investigating and evaluating the system of inside administration that’s put to be taught from in a enterprise. These components are acknowledged beneath:

– “Administration Ambiance, this supplies with setting the character of a enterprise and influencing the administration consciousness of its staff and it consists of the dignity, ethical values, working strategies of the administration, system for assigning authority and the required procedures for organizing and creating the staff in a enterprise affiliation.

– Hazard evaluation, which incorporates the detection and examination of the hazards which is maybe most positively to pose a menace to attaining desired targets.

– Administration Actions, these are the foundations and accepted concepts which help in guaranteeing that the orders of the administration are satisfactorily carried out.

– Info and communication which might probably be answerable for all information associated to the operation and funds and so forth of a enterprise that helps in its easy working

– Monitoring of inside controls which components out any scarcity in its high-quality guaranteeing it’s remedied so the system may presumably be improved “(Bushman, 2007).

The domains of COBIT are:

– Planning and organizing

– Acquisition and implementation

– Mange IT funding

– Present and help

– Monitoring and analysis.

COBIT focuses on IT components, which might probably be course of oriented. Furthermore, the COBIT incorporates the system of enchancment, operation, present, and implementation. COBIT helps strengthens evaluation, understanding and observe of acceptable inside controls. COBIT furthermore, supplies an stunning framework for hazard administration and improves communication amongst administration, prospects and auditors referring to IT governance. Accordingly, COSO focuses on monitoring and analysis, which might probably be one amongst many COBIT’s domains. As a consequence of this actuality, COSO and COBIT assemble collectively a sturdy evaluation of IT based mostly utterly choices and processes.

For example, the corporate is implementing a mannequin new system. As a consequence of this actuality, the enterprise can take a bonus of COBIT and COSO. On this case, COBIT is additional extra more likely to be very useful to span the system on know-how based mostly utterly processes. CABIT would furthermore assist in configuration of two absolutely absolutely completely absolutely absolutely utterly completely different choices (new with an present accounting system). COSO would assist to guage the monetary half and hazard. Furthermore, the COSO furthermore will evaluation all accounting associated components and the COBIT will assist in technological integration and it furthermore will assist with present and help of the implementation.

The mixture of COSO and COBIT is additional extra more likely to be very helpful for AFM Company. All evaluation and documentation of processes is additional extra more likely to be scoped by the COSO framework and all technological components is additional extra more likely to be reviewed in particulars by the COBIT framework. COBIT would furthermore assist with the complexity of software program program program program program program program system. Then as rapidly as further, the COSO will help administration actions and the COBIT will assist in detailed monitoring and evaluating.