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ME2.1 - Monitoring of Internal Control Framework

This topic is intended to enable collaboration and sharing of information to facilitate a better understanding and approach to implementing this COBIT control objective based on the risk, value and guidance provided by its corresponding control practices.

COBIT Control Objective ME2.1 - Monitoring of Internal Control Framework is contained within Process Popup Monitor and Evaluate Internal Control.

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Monitoring of Internal Control Framework

Continuously monitor, benchmark and improve the IT control environment and control framework to meet organisational objectives.

View value and Risk Drivers  help

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Value Drivers

  • IT meeting its objectives for the business
  • Reduced impact of control failure or deficiency on the business processes
  • Continuous improvement of process controls with respect to industry practices
  • Proactive detection and resolution of control deviations
  • Compliance with laws and regulations
  Risk Drivers
  • Increased adverse impact on the organisation’s operations or reputation
  • Control weaknesses hampering effective business process execution
  • Undetected malfunctioning of internal control components

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  1. Define and implement a policy based on organisational governance standards and industry-accepted frameworks and practices, with associated ongoing internal control monitoring and evaluation activities. Consider organisational governance standards for internal control and risk management.
  2. Consider independent evaluations of the IT internal control system (e.g., by internal audit or peers).
  3. Identify the boundaries of the IT internal control system (e.g., consider how organisational IT internal controls take into account outsourced development or production activities).
  4. Establish processes or procedures to ensure that control activities are in place and exceptions are promptly reported, followed up and analysed. Ensure that appropriate corrective actions are chosen and implemented. Prioritise control exceptions according to the risk management profile (e.g., classify certain exceptions as key risks and others as non-key risks).
  5. Maintain the IT internal control system, considering ongoing changes in the organisational control environment, relevant business processes and IT risks. If gaps exist, evaluate and recommend changes.
  6. Regularly evaluate the performance of the IT control framework, comparing performance indicators against industry accepted standards and good practices. Consider formal adoption of a continuous improvement approach to internal control monitoring.

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Downloads
Posted by FarmService 1410 days ago
Downloads
Posted by ISACA 1420 days ago
This document provides a preview of the information contained in COBIT 5.
Posted by ISACA 1823 days ago
This presentation by Robert Stroud, CGEIT, CRISC, ISACA Strategic Advisory Board, addresses the COBIT 5 framework, the critical aspects of COBIT 5, and what is available.
Posted by ISACA 1823 days ago
Posted by ISACA 1931 days ago
Posted by ISACA 1931 days ago

Events & Online Learning: 16 total

16 Mar 2015
ISACA International Event
Orlando, FL, USA
15 Jun 2015
ISACA International Event
Ciudad de México, Mexico
14 Mar 2016
ISACA International Event
Miami, FL, USA
1 Aug 2016
ISACA International Event
Chicago, IL, USA

Journal Articles: 371 total

Volume 6, 2015
by Ed Gelbstein, Ph.D.
An auditor will sooner or later be faced with two kinds of conflicts: conflict of interest and interpersonal conflict.
Volume 5, 2107
by Marianne Bradford, Ph.D., and Dave Henderson, Ph.D.
Although generalized audit software (GAS) has been shown to significantly improve the efficiency and effectiveness of audits, many auditors do not use this technology.
Volume 3, 2107
by Jayakumar Sundaram, CISA, ISO 27001 LA
The SoA is a continuously updated and controlled document that provides an overview of information security implementation.
Volume 1, 2018
by Ian Cooke, CISA, CGEIT, CRISC, COBIT Assessor and Implementer, CFE, CPTE, DipFM, ITIL Foundation, Six Sigma Green Belt
Innovative technologies such as VMs and the cloud help the efficiency and effectiveness of backup and recovery plans, but they do not replace the need to plan, document, or test and test again.
Volume 1, 2018
by ISACA Member and Certification Holder Compliance
An up-to-date listing of the current IT Audit and Assurance Standards, Guidelines, and Tools and Techniques
Volume 1, 2018
by Andrew Clark
With advances in computing power, the abundance of data storage and recent advances in algorithm design, machine learning is increasingly being utilized by corporations to...

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