Overview:

Different controls in an organization Relationship between IT controls &

financial controls The Mega Process Leads Application of COBIT in an organization Software used in an organization for IT

control Conclusion

Different controls in an organization

COSO Internal Environment Risk Assessment Control Activities Information and Communications Monitoring

Different controls in an organization

COBIT Planning and Organization Acquisition and Implementation Delivery and Support Monitoring

Relationship between IT controls & financial controls

Failure to terminate application access

may result in unauthorized access to company’s confidential information

Only one role/job function allowed per user for Sarbanes-Oxley compliance.

The Mega Process Leads

Application of COBIT in an organization – Why COBIT ?

Attention on Corporate Governance Management accountability for resources Specific need for control of IT resources Business oriented solutions Framework for risk assessment Authoritative basis Improved communication among

management, users and auditors

Management to evaluate IT investment decisions to balance risk and control of investment in an often

unpredictable IT environment to benchmark existing and future IT environment

Users to obtain assurance on security and controls of

products and services provided by internal and third-parties.

IS auditors to substantiate opinions to management on internal

controls to find out the minimum controls that are necessary

Application of COBIT in an organization– Who & What for ?

Software used in an organization for IT control

SAP – Software in IT Control Sarbanes-Oxley Compliance

302 – Corporate Responsibility for Financial reports 404 – Management assessment of Internal controls 406 – Code of Ethics for senior officers 409 – Real time issue disclosures

Creating procedures Auditing tools mySAP financials & mySAP ERP

Conclusion

Different controls in organization Relationship between IT and financial

controls The Mega process leads COBIT in an organization Software for IT control