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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.

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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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3 May 2012
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7 May 2012
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Get the knowledge you need to stay one step ahead of the competition and keep up with changing professional trends at ISACA’s North America CACS Conference.
15 May 2012
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Journal Articles: 610 total

Volume 2, 2019
by ISACA Member and Certification Holder Compliance
Volume 3, 2012
by Ookeditse Kamau, CISA, CIA
Quality evidence collected during the audit process enhances the overall quality of the work performed and significantly reduces audit risk.
Volume 3, 2012
by Tommie W. Singleton, Ph.D., CISA, CGEIT, CITP, CPA
This two-part article describes one framework for performing effective audits of applications.
Volume 3, 2012
by Brian Vazzana, CISA, CITP, CPA
SOC reports examine the controls present at the service organizations and consider how those controls are designed and operate.
Volume 3, 2012
by Miklos A. Vasarhelyi, Ph.D., Silvia Romero, Ph.D., Siripan Kuenkaikaew, CISA, and Jim Littley
This article examines how internal audit has progressed with the implementation of CA/CM.
Volume 3, 2012
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

Wikis: 2 total

Blog Posts: 92 total

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