Project proposal Essay Example | Topics and Well Written Essays - 1000 words - 1

Project proposal - Essay Example act is pertaining to the internal control assessment & accountability the management of the organization whereby the company is required to submit an internal control evaluation report pertaining to the procedures of financial reporting. In the modern context most of the organizations possess IT enabled Business & Financial Control systems and hence internal controls are largely related to IT governance. IT Governance is gradually forming deep roots into the corporate governance of businesses globally and hence best practices of IT Management like ITIL & COBIT are gaining popularity very rapidly across the world. In fact many organizations are now looking forward to implement integrated frameworks comprising of practices recommended by ITIL, COBIT and ISO 27001. The research proposal presented herewith is targeted to evaluate the feasibility, strengths & weaknesses of COBIT framework when deployed as an Internal Auditing System for IT Governance as a part of the overall Corporate Gov ernance system of an organization. [Findlaw.com. 2002] IT Management is no longer a small management system operating in Silo by a group of professionals that are primarily technical administrators & experts. With more and more organizations migrating to IT enabled business process management systems, the components & building blocks of IT Infrastructure & Applications have gradually achieved the critically of being the most valuable assets of the organization but least understood from the governance perspective. In this context the organizations having high dependence on IT enabled business processes need to practice an effective IT Risk Management system to comply with regulatory requirements and manage the business dependence on IT effectively. Hence, it is mandatory in the modern business era that IT Management & Governance becomes the responsibility of the executive management and the board of directors of an organization. The advantages of having strong & well managed IT