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TMCNet: ISACA Releases COBIT 5 Governance Framework

[April 13, 2012]

ISACA Releases COBIT 5 Governance Framework

Apr 13, 2012 (Close-Up Media via COMTEX) -- ISACA said it has released COBIT 5, business framework for the governance and management of enterprise IT.

In a release, the group noted that the new version of COBIT promotes seamless continuity between an enterprise's IT department and its overall business goals, and represents an evolution of the globally accepted framework used worldwide for more than 15 years. The COBIT 5 framework is available from ISACA-a nonprofit global association of more than 95,000 IT governance professionals-as a free download at isaca.org/cobit.

The group said that, according to a recent global survey of more than 3,700 IT professionals who are members of ISACA, nearly half of enterprises (44 percent) are planning to increase their IT-related investments selectively in the next 12 months, based on expected contribution to business value. The survey showed that 74 percent of executive teams consider information and technology to be very important to the delivery of the enterprise's strategy and vision.

ISACA noted that COBIT 5 provides globally accepted principles, practices, analytical tools and models to help business and IT leaders maximize trust in, and value from, their enterprise's information and technology assets. More than 16,000 professionals preregistered for a copy. The previous version of COBIT was downloaded more than 100,000 times.

"The advance interest in COBIT 5 is overwhelming. It's clear that enterprises everywhere are aggressively seeking guidance on how to manage and ensure value from the growing mountain of information and increasingly complex technologies they are grappling with," said Derek Oliver, Ph.D., CISA, CISM, CRISC, CITP, FBCS, FISM, MInstISP, and co-chair of the COBIT 5 Task Force. "Information is the currency of the 21st century, and COBIT helps enterprises effectively govern and manage this critical asset." In a release, the group also noted: Using COBIT 5 COBIT 5 can be tailored for all business models, technology environments, industries, locations and corporate cultures. It can be applied to: - Information security - Risk management - Governance and management of enterprise IT - Assurance activities - Legislative and regulatory compliance - Financial processing or CSR reporting According to the ISACA survey, in the past 12 months: -48 percent of responding enterprises experienced project overruns -41 percent experienced a high cost of IT with a low or unknown return on investment -38 percent said there was a disconnect between business and IT strategies -22 percent experienced a security breach -21 percent reported challenges related to mobile device security "COBIT 5 offers a much-needed common vocabulary and processes to enlist stakeholders from across the organization-not just IT-in considering the impact of key business and technology issues such as cloud computing, mobile devices, BYOD (bring your own device), privacy and threats," said John Lainhart, CISA, CISM, CGEIT, CRISC, CIPP/G, past international president of ISACA and co-chair of the COBIT 5 Task Force. "Most people wouldn't venture into a major storm without protective gear like an umbrella. Yet, that's what enterprises do every day when they leave their technology assets unprotected." Principles and Enablers This significant update of the COBIT framework simplifies governance challenges with just five principles and seven enablers. COBIT 5 integrates other approaches and standards, including TOGAF, PMBOK, Prince2, COSO, ITIL, PCI DSS, the Sarbanes-Oxley Act and Basel III.

With 95,000 constituents worldwide, ISACA provides knowledge, certifications, and education on information systems assurance and security, enterprise governance and management of IT, and IT-related risk and compliance.

More information: www.isaca.org ((Comments on this story may be sent to newsdesk@closeupmedia.com))

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