The CoBIT Framework Can Be Used to Strengthen Internal Controls

question 58

Short Answer

The CoBIT framework can be used to strengthen internal controls against computer crime in various ways.Indicate whether each statement below is (a) always true, (b) sometimes true or (c) never true.1.As a form of internal control, each step of the systems development life cycle focuses on one of CoBIT's enablers.2.CoBIT can be used in conjunction with the COSO internal control framework to identify appropriate control activities.3.CoBIT's principles provide detailed standards for evaluating information inputs and outputs that can help strengthen internal control.4.As defined in CoBIT, organizational stakeholders include management and employees.5.The COSO enterprise risk management framework requires the use of CoBIT to identify risks.

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Definitions:

Differential Cost

The difference in cost between two alternative decisions or scenarios, important in the process of making financial decisions.

Book Value

The net value of a company's assets less its liabilities and preferred stock, often used to estimate the company's worth.

Yearly Expense

The total amount of money spent by a business or individual over the course of a year, including operational, administrative, and living expenses.

Old Equipment

Machinery or tools that have been used for a long period and may be outdated or less efficient compared to newer versions.