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:

Sufficient Consideration

A vital element in contract law, referring to something of value exchanged between parties that is necessary to form a legally binding agreement.

UCC

Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States.

New Consideration

In contract law, additional or different terms, conditions, or considerations offered upon renegotiating or amending an existing agreement.

Matured

A term referring to something that has fully developed, often used in financial contexts to denote investments that have reached their period of full growth or return.