A new COBIT 5 guide from global IT association ISACA, stated that from cyber-attacks and malicious employee actions to hacks into corporate social media accounts, 2013 is turning out to be a watershed year for technology-related enterprise threats. Organizations must integrate technology risk much more aggressively into enterprise risk management (ERM) if they want to reduce future loss and improve business performance.
Mismanaging IT risk can reduce business value, create financial loss, damage corporate ISACA’s COBIT 5 for Risk, developed by a global committee of risk professionals, provides a detailed guide to systematically governing and managing IT risk in the face of today’s unpredictable threats.
Steven Babb, Chair of the COBIT 5 for Risk Task Force, said, It is no longer enough to identify a risk and add it to a risk register. COBIT 5 for Risk provides key guidance on tying IT risk directly to strategic business outcomes.
Aligned with the international trend of increased corporate governance demands, the Companies Act, 2013 casts significant responsibilities on the board and independent directors with regard to development and implementation of robust risk management systems and disclosures thereon. With business entities experiencing significant extension of IT to various facets of their organization in recent times, COBIT 5 for Risk provides timely guidance to achieving the new compliance requirements while meeting the strategic expectations of balancing IT value and risk, said R. Vittal Raj, International Vice-President, ISACA
COBIT 5 for Risk can be purchased from www.isaca.org/cobit5forrisk. The COBIT 5 framework publication can be downloaded free of charge at www.isaca.org/cobit.
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