E-Commerce – COSO and COBIT Are Comparable Frameworks

This write-up will aid you to recognize some similarities and differences in between two frameworks: COSO and COBIT. Some essential know-how about these two networks is essential especially for E-Commerce. COSO and COBIT are similar frameworks, COSO’s technique is extra wide-dependent, fewer complexes, without the need of so considerably specialized challenges and COBIT is a lot more in depth, course of action-orientated, hazard, management requirements, and it relates far more to complex problems. COBIT handles high quality and stability necessities such as efficiency, performance, integrity, availability, compliance, confidentiality and reliability of information and facts. These are the foundations for the handle aims of COBIT.

As identified by the COSO agenda, the system of interior handle comprises of five components. These make up for a very knowledgeable framework for investigating and assessing the method of interior control that is set to use in a organization. These factors are said below:

– “Manage Atmosphere, this deals with location the character of a business enterprise and influencing the command recognition of its team and it features the honor, ethical values, functioning solutions of the administration, method for assigning authority and the required strategies for arranging and acquiring the personnel in a company affiliation.
– Possibility evaluation, which consists of the detection and assessment of the dangers that are most likely to pose a threat to attaining preferred goals.
– Regulate Things to do, these are the guidelines and polices which guide in guaranteeing that the orders of the management are satisfactorily carried out.
– Facts and communication which are dependable for all information relevant to the procedure and finances and so on of a business that assists in its clean operating
– Checking of inside controls which details out any scarcity in its high-quality creating confident it is remedied so the process can be improved “(Bushman, 2007).

The domains of COBIT are:

– Arranging and organizing
– Acquisition and implementation
– Mange IT expense
– Shipping and support
– Monitoring and evaluation.

COBIT focuses on IT elements, which are procedure oriented. Furthermore, the COBIT has the technique of growth, operation, shipping and delivery, and implementation. COBIT helps strengthens assessment, understanding and physical exercise of correct interior controls. COBIT also, presents a good framework for threat management and enhances communication among the administration, consumers and auditors relating to IT governance. Accordingly, COSO focuses on monitoring and analysis, which is also one particular of the COBIT’s domains. For that reason, COSO and COBIT develop alongside one another a robust evaluation of IT centered units and processes.

For example, the corporation is implementing a new program. Consequently, the business enterprise can acquire an benefit of COBIT and COSO. In this circumstance, COBIT will be very practical to span the program on technological know-how based processes. CABIT would also help in configuration of two unique techniques (new with an current accounting program). COSO would assistance to evaluate the economic portion and risk. What’s more, the COSO also will evaluation all accounting associated factors and the COBIT will enable in technological integration and it also will aid with shipping and delivery and support of the implementation.

The blend of COSO and COBIT will be pretty useful for AFM Company. All evaluation and documentation of procedures could be scoped by the COSO framework and all technological concerns could be reviewed in aspects by the COBIT framework. COBIT would also support with the complexity of software package technique. On the other hand, the COSO will assist manage routines and the COBIT will assist in in depth monitoring and evaluating.