The Importance of COSO Framework Compliance in Information Technology Auditing and Enterprise Resource Management

Abstract

This article examines the significance of the COSO framework in managing risks and establishing effective control environments for organizations' IT systems. It delves into the five essential components of both the COSO frameworks for internal control and enterprise resource management. Furthermore, it outlines the principles that define each of the COSO frameworks for internal control and enterprise resource management components and elaborates on their impact on the COSO framework objectives. The authors also shed light on the paramount concerns of an auditor during an IT audit. In conclusion, the article provides several recommendations for integrating COSO framework compliance into an organization's information technology plan. This articles a valuable resource for auditors, administrators, and management seeking to develop an IT strategy that aligns with their business strategy and safeguards their information systems and data.