A good discussion on the need for a single framework for compliance to replace/work with existing frameworks. Good Read!
Abstract:
The grand framework of SoX, COSO, CoBIT and their future trends with some managerial caveats are introduced. Trustworthy computing usage model from Microsoft is summarized to indicate the direction where modern software development is heading. This would become a de facto standards for all software corporations. In COSO framework, ideas on Enterprise Risk management is touched upon. ERM not an end in itself, but rather an important means and helps an entity achieve its performance and profitability targets, and prevent loss of resources. It helps an entity get to where it wants to go and avoid pitfalls and surprises along the way. Under CoBIT, CRM and the Key Performance Indicators using Dashboard techniques to help top management evaluate the projects is discussed and IT is a major component of it. Some managerial intuition and how corporation are turning this new compliance into financial opportunity. In that regard the concept of Single Compliance platform will be the wave of the future.