IT Compliance After Hours Seminar September 2007 Zurich. Improving IT Risk & Compliance Management (RCM)

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "IT Compliance 24.09.2007. After Hours Seminar September 2007 Zurich. Improving IT Risk & Compliance Management (RCM)"

Transcription

1 IT Compliance AHS After Hours Seminar Zurich Improving IT Risk & Compliance Management (RCM) Bruno J. Wiederkehr Member of the Board ISACA Switzerland Chapter Agenda 1. Understanding the RCM Requirements Definitions & Semantics 2. Validation of the RCM Process Strategy, Organisation & Processes 3. Using Risk & Compliance Practices Good vs Best Practices & Conclusion Seite 2 Bruno Wiederkehr 1

2 IT Compliance Elements of RCM Areas of improvement Influences Key factors Levels: IT Risk & Compliance Strategic Management Operational Organisation Processes Culture, Vision & Mission Strategic Program & Plans IT Risk & Compliance Define, Assess & Maintain Information Communication ICS Monitoring & Measurement Seite 3 Current Trends in IT Factors of Influence Ongoing pressure from business on IT cost and IT s business alignment Scepticism from the Board about their IT risk exposure and IT compliance management At present, discussion on risk and compliance management focuses on regulatory issues Regulatory pressure for greater transparency for shareholders Technology as an important component to enable responses to authority pressure Increase in the use of metrics for justifying IT performance There is an increased focus on the adequacy of ERM & ICS Seite 4 Bruno Wiederkehr 2

3 IT Compliance Laws & Regulations Factors of Influence Law & Regulations: Regulatory requirements: e.g. SOX, Basel II Money laundry Act Insider trades Breach/Violation of Confidentiality Guidelines & Standards: Tax Declarations and Regulations Accounting Standards e.g. IFRS Information Security, Protection & Privacy e.g. FISMA Code of Conduct, Code of Compliance, Code of Integrity Seite 5 Privacy Compliance Validation of Information Content of the OECD guidelines Limited collection of data Data quality requirements Purpose specification Use limitation Security safeguard Openness Individual participation Accountability Personal Identified Information (PII) Challenges faced by organisations Defining PII within each organisation Knowing where PII comes from Knowing PII s applicable requirements Knowing where PII is stored Knowing where PII can be accessed Tracking PII data flows Keeping up with all the laws and regulations Currently there is no listing of what constitutes PII! Seite 6 Bruno Wiederkehr 3

4 IT Compliance Definitions Definitions & Semantics IT Governance: IT governance is the responsibility of the board of directors and executive management. It is an integral part of enterprise governance and consists of the leadership, organizational structures and processes that ensure that the organization s IT sustains and extends the organization s strategy and objectives. [ITGI 2004] IT Risk Management: IT Risk management is the process of planning, organizing, leading, and controlling the activities of an IT organization in order to minimize the effects of risk on an organization's capital and earnings. IT Compliance Management: The state of being in accordance with the relevant legal and regulatory requirements and the IT rules, principles and guidelines derived from those. Seite 7 IT Compliance Semantics Definitions & Semantics Totality of all controls and measures in order to comply with: Externally applicable domestic and international laws, regulations and rules Internal guidelines and codes (of ethics, conduct etc.) An answer to the expectations of SOX and PCAOB 1) Company Level Controls Application Controls IT General Controls Program development Program changes Computer operations Access to programs and data 1) Public Company Accounting Oversight Board Seite 8 Bruno Wiederkehr 4

5 IT Compliance Enterprise Model Validation of RCM Technological Progress Capital markets Political environment Laws & Regulations Strategic Management Product Risk Mgmt IT Corporate Security / Audit Distribution MIS Strategy Organisation / Governance Core functions Support processes Controlling Investments HR Asset Management Business Objectives / Projects Operations Compliance Legal Knowledge Management Environmental requirements Market / Competition Image / Reputation Fraud / Offences Seite 9 RCM Requirements Validation of RCM What should an RCM System contain? Understandable RCM Vision, Mission and Strategy Continuous RCM Processes Documented Org. Structure, Rules and Activities Adequate Information- and Reporting-System Transparent RCM-Assessment & Plans of Measures Robust Monitoring, Measurement & Control Customised Awareness programs at all Levels Seite 10 Bruno Wiederkehr 5

6 IT Compliance ECM Requirements Organisation & Processes Example: Enterprise Compliance Management Assignment of Accountability on Sr. Executive Level The Chief Compliance Officer (CCO) is fully responsible regardless of the hierarchical position Task sharing: Business, Controlling and IT Staffing of compliance unit: at least 2 FTE at corporate level and (if applicable) 1 FTE per BU-Unit Documentation: Compliance-Manual & Code of Compliance Content: - Legal & Regulation - Policy and strategy - Organisation chart - Risk type table - Data classifications - Activities / capabilities Content: - Philosophy - Conduct & Principles - Leadership - Integrity - Excellence - Efficiency - Sustainability Seite 11 Organisational Structure Organisation & Processes e.g.: Corporate Governance, Risk & Compliance Board Group Audit Audit Committee AC CEO CCO Compliance Legal CFO CIO Domestic / International CTO CRO Risk IT Governance Financial Risk Market Risk Operational Risk IT Risk & BCM IT Risk & Security Phys. Security Other Groups: Board & Executive Committees, Risk Mgmt Group, Compliance Group Seite 12 Bruno Wiederkehr 6

7 IT Compliance Compliance Officer s Profile Organisation & Processes Basic education: degree of a law school Deep understanding of legal structure of enterprise Thorough experiences in RM, Controlling, Audit Also knowledge about Corporate Culture, Code of Ethics, Code of Conduct or Code of Compliance or Integrity Main Tasks: Development of awareness programs Development of trainings programs Development of organisational measures to support lawful and sustainable (business) actions Monitoring and tracking of corrective actions stemming from internal / external compliance audit reports Promote / improve close collaboration with HR, RM, QM and SE (Security Management), EM (Environment Management) & Audit Seite 13 Risk & Control Assessment Correlation of COBIT Domains Quelle: COBIT Focus, 4. Seite 14 Bruno Wiederkehr 7

8 IT Compliance Organisation & Processes Improving the Compliance Process Input External requirements ME3 Ensure regulatory compliance Output PO1, PO4, PO9 ME1, ME4 Internal Documents: - Legal catalogue - Policy and strategy - Regulation inventory - Organisation (RACI) - Risk type table - Data classifications - Activities & capabilities - Reports and metrics No Define & maintain compliance plan Maintain & communicate procedures Monitor & evaluate risks and controls Correct? PO1 Strategic alignment PO4 Human resources PO9 Manage risks ME1 Monitor and evaluate Performance ME4 IT Governance and Independent assurance based on COBIT 4.0 Stop Seite 15 Risk & Compliance Practices Fusion of Risk and Compliance Source: NetIQ s methodology of compliance and risk management Seite 16 Bruno Wiederkehr 8

9 IT Compliance Extensive metrics and reporting Compliance Center providing risk-based metrics Information & Communication Seite 17 Questions learned Risk & Compliance Practices Have you ever: Analysed the compliance process? Asked and received correct risk and complete compliance information and descriptions? Compared the international and local law with the internal compliance instructions? Taken the chance to interview legal and compliance responsible? Compared the global compliance activities and the local awareness programs? Used assurance practices and tools for business and IT compliance? Seite 18 Bruno Wiederkehr 9

10 IT Compliance Conclusion Conclusion of good Practicies 1. Today, COBIT is regarded more and more as a generally accepted framework for IT Governance which includes RCM. 2. The essence of COBIT lies in the fact that IT processes must support IT and business goals. This implicates that COBIT is not a cookbook with very precise recipes. It s a pitfall to implement it out of the box. 3. The organisation-specific environment is starting point for implementing a good IT Governance. 4. Therefore it is important to take out those processes, components and elements from COBIT that could help achieving the organisation s own business and IT objectives such as RCM. 5. An other advantage of COBIT is its continuous development and refinement by gathering best practices such as COSO FW, Standards like ISO and ITIL as well as the regulation SOX, Basel II based on the experiences of different managers in the IT Governance field. 6. Finally, while building upon its previous editions, Cobit 4.1 went through a substantial review, making the framework more practical in its usage. Seite 19 For More Information: Conclusion of good Practicies IT Risk & Compliance Bruno J. Wiederkehr Member of the Board ISACA Switzerland Chapter Organisation Processes Culture, Vision & Mission Strategic Program and Plans IT Risk & Compliance Define, Assess & Maintain Information Communication ICS Monitoring & Measurement Links to: IT Governance - COBIT 4.0 / IT Compliance - Privacy, Compliance and International Data Flow & The fusion of Compliance and Risk Management - Seite 20 Bruno Wiederkehr 10

CFE 2. Enterprise Risk Management. Study Guide - Supplemental Background Material

CFE 2. Enterprise Risk Management. Study Guide - Supplemental Background Material P a g e 1 CFE 2 Enterprise Risk Management Study Guide - Supplemental Background Material The passing score for this test is 74% Reference Guides: Enterprise Risk Management Best Practices: From Assessment

More information

Gobierno de TI Enfrentando al Reto. IT Governance Facing the Challenge. Everett C. Johnson, CPA International President ISACA and ITGI

Gobierno de TI Enfrentando al Reto. IT Governance Facing the Challenge. Everett C. Johnson, CPA International President ISACA and ITGI Gobierno de TI Enfrentando al Reto IT Facing the Challenge Everett C. Johnson, CPA International President ISACA and ITGI 1 Add titles Agenda Agenda IT governance keys IT governance focus areas: theory

More information

COBIT 5 For Cyber Security Governance and Management. Nasser El-Hout Managing Director Service Management Centre of Excellence (SMCE)

COBIT 5 For Cyber Security Governance and Management. Nasser El-Hout Managing Director Service Management Centre of Excellence (SMCE) COBIT 5 For Cyber Security Governance and Management Nasser El-Hout Managing Director Service Management Centre of Excellence (SMCE) Cybersecurity Governance using COBIT5 Cyber Defence Summit Riyadh, KSA

More information

Chayuth Singtongthumrongkul

Chayuth Singtongthumrongkul IT is complicated. IT Governance doesn t have to be. Chayuth Singtongthumrongkul CISSP, CISA, ITIL Intermediate, PMP, IRCA ISMS (ISO/IEC 27001) Director of International Academic Alliance, ACIS Professional

More information

Moving Forward with IT Governance and COBIT

Moving Forward with IT Governance and COBIT Moving Forward with IT Governance and COBIT Los Angeles ISACA COBIT User Group Tuesday 27, March 2007 IT GRC Questions from the CIO Today s discussion focuses on the typical challenges facing the CIO around

More information

ASSESSMENT OF THE IT GOVERNANCE PERCEPTION WITHIN THE ROMANIAN BUSINESS ENVIRONMENT

ASSESSMENT OF THE IT GOVERNANCE PERCEPTION WITHIN THE ROMANIAN BUSINESS ENVIRONMENT Accounting and Management Information Systems Vol. 11, No. 1, pp. 44 55, 2012 ASSESSMENT OF THE IT GOVERNANCE PERCEPTION WITHIN THE ROMANIAN BUSINESS ENVIRONMENT Pavel NĂSTASE 1 and Simona Felicia UNCHIAŞU

More information

Enterprise Risk Management

Enterprise Risk Management Cayman Islands Society of Professional Accountants Enterprise Risk Management March 19, 2015 Dr. Sandra B. Richtermeyer, CPA, CMA What is Risk Management? Risk management is a process, effected by an entity's

More information

IRM CERTIFICATE AND DIPLOMA OUTLINE SYLLABUS

IRM CERTIFICATE AND DIPLOMA OUTLINE SYLLABUS IRM CERTIFICATE AND DIPLOMA OUTLINE SYLLABUS 1 Module 1: Principles of Risk and Risk Management Module aims The aim of this module is to provide an introduction to the principles and concepts of risk and

More information

COBIT & ITIL usage for SOX current and future

COBIT & ITIL usage for SOX current and future COBIT & ITIL usage for SOX current and future Robert E Stroud International Vice President ISACA Evangelist ITSM & IT Governance CA, Inc. Japan, November 8, 2007 Trademark Notice ITIL is a registered trademark

More information

CobiT Strategy and Long Term Vision

CobiT Strategy and Long Term Vision CobiT Strategy and Long Term Vision Urs Fischer VP Head IT Risk Mgmt, Security & ICS SwissLife Seite 2 1 Seite 3 Seite 4 2 Session Objective Provide those interested stakeholders with a clear and single

More information

International Diploma in Risk Management Syllabus

International Diploma in Risk Management Syllabus International Diploma in Risk Management Syllabus Module 1: Principles of Risk and Risk Management The aim of this module is to provide an introduction to the principles and concepts of risk and risk management.

More information

Stepping Through the Info Security Program. Jennifer Bayuk, CISA, CISM

Stepping Through the Info Security Program. Jennifer Bayuk, CISA, CISM Stepping Through the Info Security Program Jennifer Bayuk, CISA, CISM Infosec Program How to: compose an InfoSec Program cement a relationship between InfoSec program and IT Governance design roles and

More information

GLOBAL STANDARD FOR INFORMATION MANAGEMENT

GLOBAL STANDARD FOR INFORMATION MANAGEMENT GLOBAL STANDARD FOR INFORMATION MANAGEMENT Manohar Ganshani Businesses have today expanded beyond local geographies. Global presence demands uniformity within the processes across disparate locations of

More information

Revised October 2013

Revised October 2013 Revised October 2013 Version 3.0 (Live) Page 0 Owner: Chief Examiner CONTENTS: 1. Introduction..2 2. Foundation Certificate 2 2.1 The Purpose of the COBIT 5 Foundation Certificate.2 2.2 The Target Audience

More information

Information Security Governance:

Information Security Governance: Information Security Governance: Designing and Implementing Security Effectively 2 nd Athens International Forum on Security 15 16 Jan 2009 Anestis Demopoulos, CISA, CISSP, CIA President of ISACA Athens

More information

Matthew E. Breecher Breecher & Company PC November 12, 2008

Matthew E. Breecher Breecher & Company PC November 12, 2008 Applying COSO s Enterprise Risk Management Integrated Framework Matthew E. Breecher Breecher & Company PC November 12, 2008 The basic outline for this presentation was provided by: Objectives for the session:

More information

Enabling IT Performance & Value with Effective IT Governance Assessment & Improvement Practices. April 10, 2013

Enabling IT Performance & Value with Effective IT Governance Assessment & Improvement Practices. April 10, 2013 Enabling IT Performance & Value with Effective IT Governance Assessment & Improvement Practices April 10, 2013 Today's Agenda: Key Topics Defining IT Governance IT Governance Elements & Responsibilities

More information

THE BOARD S ROLE AND RESPONSIBILITIES OVER THE CONTROL ENVIRONMENT. Session 4

THE BOARD S ROLE AND RESPONSIBILITIES OVER THE CONTROL ENVIRONMENT. Session 4 THE BOARD S ROLE AND RESPONSIBILITIES OVER THE CONTROL ENVIRONMENT Session 4 Road Map of Presentation Review of the key responsibilities of the Board - the direct links to the IC System & IA function Analyze

More information

FINDING THE RISK IN RISK ASSESSMENTS NYSICA JULY 26, 2012. Presented by: Ken Shulman Internal Audit Director, New York State Insurance Fund

FINDING THE RISK IN RISK ASSESSMENTS NYSICA JULY 26, 2012. Presented by: Ken Shulman Internal Audit Director, New York State Insurance Fund FINDING THE RISK IN RISK ASSESSMENTS NYSICA JULY 26, 2012 Presented by: Ken Shulman Internal Audit Director, New York State Insurance Fund There are different risk assessments prepared: Annual risk assessment

More information

The Role of Internal Audit In Business Continuity Planning

The Role of Internal Audit In Business Continuity Planning The Role of Internal Audit In Business Continuity Planning Dan Bailey, MBCP Page 0 Introduction Dan Bailey, MBCP Senior Manager Protiviti Inc. dan.bailey@protiviti.com Actively involved in the Information

More information

COSO Enterprise Risk Management. Establishing Effective Governance, Risk, and Compliance (GRC) Processes. 2nd Edition. Wiley Corporate F&A

COSO Enterprise Risk Management. Establishing Effective Governance, Risk, and Compliance (GRC) Processes. 2nd Edition. Wiley Corporate F&A Brochure More information from http://www.researchandmarkets.com/reports/2220031/ COSO Enterprise Risk Management. Establishing Effective Governance, Risk, and Compliance (GRC) Processes. 2nd Edition.

More information

Measuring IT Governance Maturity Evidences from using regulation framework in the Republic Croatia

Measuring IT Governance Maturity Evidences from using regulation framework in the Republic Croatia Measuring IT Governance Maturity Evidences from using regulation framework in the Republic Croatia MARIO SPREMIĆ, Ph.D., CGEIT, Full Professor Faculty of Economics and Business Zagreb, University of Zagreb

More information

"Introduction to IT Governance with CobiT4.1 and CobiTQuickstart"

Introduction to IT Governance with CobiT4.1 and CobiTQuickstart "Introduction to Governance with CobiT4.1 and CobiTQuickstart" ISACA Joint Session San Francisco Chapter and Silicon Valley Chapter April 23, 2008 Debra Mallette CISA (Information Systems Audit and Control

More information

IT Governance Dr. Michael Shaw Term Project

IT Governance Dr. Michael Shaw Term Project IT Governance Dr. Michael Shaw Term Project IT Auditing Framework and Issues Dealing with Regulatory and Compliance Issues Submitted by: Gajin Tsai gtsai2@uiuc.edu May 3 rd, 2007 1 Table of Contents: Abstract...3

More information

FRAMEWORK FOR AN ETHICAL MATURITY INDEX. Authors: Elena Demidenko and Patrick McNutt

FRAMEWORK FOR AN ETHICAL MATURITY INDEX. Authors: Elena Demidenko and Patrick McNutt FRAMEWORK FOR AN ETHICAL MATURITY INDEX Authors: Elena Demidenko and Patrick McNutt Across key Enterprise risk management frameworks, COSO ERM (http://www.coso.org) and ASNZ4360 (ASNZ 4360: 2004 (http://www.standards.com.au)

More information

APPLICATION OF THE KING III REPORT ON CORPORATE GOVERNANCE PRINCIPLES

APPLICATION OF THE KING III REPORT ON CORPORATE GOVERNANCE PRINCIPLES APPLICATION OF THE KING III REPORT ON CORPORATE GOVERNANCE PRINCIPLES Ethical Leadership and Corporate Citizenship The board should provide effective leadership based on ethical foundation. that the company

More information

Audit Methodology for IT Governance

Audit Methodology for IT Governance 32 Informatica Economică vol. 14, no. 1/2010 Audit Methodology for IT Governance Mirela GHEORGHE Academy of Economic Studies, Bucharest mirelaghe@gmail.com The continuous development of the new IT technologies

More information

The Importance of IT Controls to Sarbanes-Oxley Compliance

The Importance of IT Controls to Sarbanes-Oxley Compliance Hosted by Deloitte, PricewaterhouseCoopers and ISACA/ITGI The Importance of IT Controls to Sarbanes-Oxley Compliance 15 December 2003 1 Presenters Chris Fox, CA Sr. Manager, Internal Audit Services PricewaterhouseCoopers

More information

Impact of New Internal Control Frameworks

Impact of New Internal Control Frameworks Impact of New Internal Control Frameworks Webcast: Tuesday, February 25, 2014 CPE Credit: 1 0 With You Today Bob Jacobson Principal, Risk Advisory Services Consulting Leader West Region Bob.Jacobson@mcgladrey.com

More information

Accreditation Application Forms

Accreditation Application Forms The Institute of Risk Management The Institute of Risk Management Accreditation Application Forms Universities and Professional Associations The Institute of Risk Management Accreditation Application Forms

More information

Introduction Auditing Internal Controls in an IT Environment SOx and the COSO Internal Controls Framework Roles and Responsibilities of IT Auditors

Introduction Auditing Internal Controls in an IT Environment SOx and the COSO Internal Controls Framework Roles and Responsibilities of IT Auditors Introduction Auditing Internal Controls in an IT Environment SOx and the COSO Internal Controls Framework Roles and Responsibilities of IT Auditors Importance of Effective Internal Controls and COSO COSO

More information

Domain 1 The Process of Auditing Information Systems

Domain 1 The Process of Auditing Information Systems Certified Information Systems Auditor (CISA ) Certification Course Description Our 5-day ISACA Certified Information Systems Auditor (CISA) training course equips information professionals with the knowledge

More information

Geoff Harmer PhD, CEng, FBCS, CITP, CGEIT Maat Consulting Reading, UK www.maatconsulting.com

Geoff Harmer PhD, CEng, FBCS, CITP, CGEIT Maat Consulting Reading, UK www.maatconsulting.com COBIT 5 All together now! Geoff Harmer PhD, CEng, FBCS, CITP, CGEIT Maat Consulting Reading, UK www.maatconsulting.com 1 Copyright Notice COBIT is 1996, 1998, 2000, 2005 2012 ISACA and IT Governance Institute.

More information

Chief Risk Officers in the Mutual Fund Industry: Who Are They and What Is Their Role Within the Organization?

Chief Risk Officers in the Mutual Fund Industry: Who Are They and What Is Their Role Within the Organization? Chief Risk Officers in the Mutual Fund Industry: Who Are They and What Is Their Role Within the Organization? Background Everyone within an organization has some responsibility for managing risk. In the

More information

Tying It All Together: Practical ERM Integration. Richard Scanlon Vice President Enterprise Risk Management CIGNA Corporation

Tying It All Together: Practical ERM Integration. Richard Scanlon Vice President Enterprise Risk Management CIGNA Corporation Tying It All Together: Practical ERM Integration Richard Scanlon Vice President Enterprise Risk Management CIGNA Corporation November 16, 2007 1 Agenda Basis for ERM Integration ERM Objectives ERM Focus

More information

What Should IS Majors Know About Regulatory Compliance?

What Should IS Majors Know About Regulatory Compliance? What Should IS Majors Know About Regulatory Compliance? Working Paper Series 08-12 August 2008 Craig A. VanLengen Professor of Computer Information Systems/Accounting Northern Arizona University The W.

More information

COBIT 5 Introduction. 28 February 2012

COBIT 5 Introduction. 28 February 2012 COBIT 5 Introduction 28 February 2012 COBIT 5 Executive Summary 2012 ISACA. All rights reserved. 2 Information! Information is a key resource for all enterprises. Information is created, used, retained,

More information

Enabling Information PREVIEW VERSION

Enabling Information PREVIEW VERSION Enabling Information These following pages provide a preview of the information contained in COBIT 5: Enabling Information. The main benefit of this publication is that it provides COBIT 5 users with a

More information

ow to use CobiT to assess the security & reliability of Digital Preservation

ow to use CobiT to assess the security & reliability of Digital Preservation ow to use CobiT to assess the security & reliability of Digital Preservation Erpa WORKSHOP Antwerp 14-16 April 2004 Greet Volders Managing Consultant - VOQUALS N.V. Vice President & in charge of Education

More information

Audit, Risk Management and Compliance Committee Charter

Audit, Risk Management and Compliance Committee Charter Audit, Risk Management and Compliance Committee Charter Woolworths Limited Adopted by the Board on 27 August 2013 page 1 1 Introduction This Charter sets out the responsibilities, structure and composition

More information

Introduction to Enterprise Risk Management at UVM DRAFT

Introduction to Enterprise Risk Management at UVM DRAFT Introduction to Enterprise Management at UVM 1 Enterprise What is Enterprise Management? Enterprise risk management is a structured, consistent, and continuous process across the whole organization for

More information

BADM 590 IT Governance, Information Trust, and Risk Management

BADM 590 IT Governance, Information Trust, and Risk Management BADM 590 IT Governance, Information Trust, and Risk Management Information Technology Infrastructure Library (ITIL) Spring 2007 By Po-Kun (Dennis), Tseng Abstract: This report is focusing on ITIL framework,

More information

Introduction to ISACA and ITGI By Georges Ataya, International Vice President, ISACA

Introduction to ISACA and ITGI By Georges Ataya, International Vice President, ISACA Quality and security in application development Round Table Meeting/Discussion Group Wednesday 23rd May 2007 Introduction to ISACA and ITGI By Georges Ataya, International Vice President, ISACA 1 The International

More information

Quarterly Meeting. Risk-Based Auditing QSG, Inc.

Quarterly Meeting. Risk-Based Auditing QSG, Inc. Quarterly Meeting Risk-Based Auditing 2015 QSG, Inc. Welcome, Introductions and Expectations 2 4 Context of the organization ISO 9001:2015 Structure 5 Leadership 6 Planning for the 7 Support 8 Operations

More information

IT Governance. What is it and how to audit it. 21 April 2009

IT Governance. What is it and how to audit it. 21 April 2009 What is it and how to audit it 21 April 2009 Agenda Can you define What are the key objectives of How should be structured Roles and responsibilities Key challenges and barriers Auditing Scope Test procedures

More information

IT Risk Management Life Cycle and enabling it with GRC Technology

IT Risk Management Life Cycle and enabling it with GRC Technology IT Risk Management Life Cycle and enabling it with GRC Technology Debbie Lew (debbie.lew@ey.com), Senior Manager, E&Y Steven Jones (steven.jones@ey.com), Senior Manager, E&Y Overview 1. What is risk management?

More information

Data Governance : Strategic and Practical Data Management Framework

Data Governance : Strategic and Practical Data Management Framework 2008 Database Grand Conference Key Note Speech Data Governance : Strategic and Practical Data Management Framework Focused on Reference Data 2008. 10. 29 지티원 대표이사이수용 Contents 1. Introduction: Compliance

More information

SECTION B DEFINITION, PURPOSE, INDEPENDENCE AND NATURE OF WORK OF INTERNAL AUDIT

SECTION B DEFINITION, PURPOSE, INDEPENDENCE AND NATURE OF WORK OF INTERNAL AUDIT SECTION B DEFINITION, PURPOSE, INDEPENDENCE AND NATURE OF WORK OF INTERNAL AUDIT Through CGIAR Financial Guideline No 3 Auditing Guidelines Manual the CGIAR has adopted the IIA Definition of internal auditing

More information

Balancing Compliance and Operational Security Demands

Balancing Compliance and Operational Security Demands SESSION ID: GRC-W01 Balancing Compliance and Operational Security Demands Steve Winterfeld Bank Information Security Officer CISSP, PCIP What is more important? Compliance with laws / regulations Following

More information

Take the right steps 9 principles for building the Risk Intelligent Enterprise

Take the right steps 9 principles for building the Risk Intelligent Enterprise Take the right steps 9 principles for building the Risk Intelligent Enterprise Contents 9 principles for building a Risk Intelligent Enterprise 2 The Risk Intelligent Framework 4 1. Is risk a threat or

More information

Managing Risk at Bank of America Corporation. Overview

Managing Risk at Bank of America Corporation. Overview Managing Risk at Bank of America Corporation Overview Risk is inherent in every material business activity that we undertake. Our business exposes us to strategic, credit, market, liquidity, compliance,

More information

The Core of V3 Service Strategy

The Core of V3 Service Strategy Integriertes Risk und Compliance Management als Elemente einer umfassenden IT-Governance Strategie Ing. Martin Pscheidl, MBA, MSc cert. IT Service Manager Manager, Technical Sales CA Software Österreich

More information

The Role of ECM in IT Governance

The Role of ECM in IT Governance The Role of ECM in The value of ECM and how to communicate it to Executive Management Dr. Bruno Wildhaber CISA/CISM, Founding member USA Forte Advisors LLC Washington Office 8300 Greensboro Drive Suite

More information

S11 - Implementing IT Governance An Introduction Debra Mallette

S11 - Implementing IT Governance An Introduction Debra Mallette S11 - Implementing IT Governance An Introduction Debra Mallette S11 - Introduction to IT Governance Implementation using COBIT and Val IT Speaker: Debra Mallette, CGEIT, CISA, CSSBB Session Objectives

More information

Security & IT Governance: Strategies to Building a Sustainable Model for Your Organization

Security & IT Governance: Strategies to Building a Sustainable Model for Your Organization Security & IT Governance: Strategies to Building a Sustainable Model for Your Organization Outside View of Increased Regulatory Requirements Regulatory compliance is often seen as sand in the gears requirements

More information

How to Develop Successful Enterprise Risk and Vendor Management Programs

How to Develop Successful Enterprise Risk and Vendor Management Programs Project Management Institute New York City Chapter January 2014 Chapter Meeting How to Develop Successful Enterprise Risk and Vendor Management Programs Christina S. Kite Senior Vice President Corporate

More information

G13 USE OF RISK ASSESSMENT IN AUDIT PLANNING

G13 USE OF RISK ASSESSMENT IN AUDIT PLANNING IS AUDITING GUIDELINE G13 USE OF RISK ASSESSMENT IN AUDIT PLANNING The specialised nature of information systems (IS) auditing and the skills necessary to perform such audits require standards that apply

More information

ITIL AND COBIT EXPLAINED

ITIL AND COBIT EXPLAINED ITIL AND COBIT EXPLAINED 1 AGENDA Overview of Frameworks Similarities and Differences Details on COBIT Framework (based on version 4.1) Details on ITIL Framework, focused mainly on version.2. Comparison

More information

The Information Systems Audit

The Information Systems Audit November 25, 2009 e q 1 Institute of of Pakistan ICAP Auditorium, Karachi Sajid H. Khan Executive Director Technology and Security Risk Services e q 2 IS Environment Back Office Batch Apps MIS Online Integrated

More information

Please feel free to call on our organizations if we can be of assistance in any way on further deliberations, task forces or committees.

Please feel free to call on our organizations if we can be of assistance in any way on further deliberations, task forces or committees. 17 May 2012 International Internal Audit Standards Board Via e-mail: Lily.Bi@theiia.org Re: Definition of Internal Auditing Ms. Lily Bi, CIA, CISA, CGEIT Director, Standards and Guidance The Institute

More information

Internal Auditing Guidelines

Internal Auditing Guidelines Internal Auditing Guidelines Recommendations on Internal Auditing for Lottery Operators Issued by the WLA Security and Risk Management Committee V1.0, March 2007 The WLA Internal Auditing Guidelines may

More information

IT Governance Regulatory. P.K.Patel AGM, MoF

IT Governance Regulatory. P.K.Patel AGM, MoF IT Governance Regulatory Perspective P.K.Patel AGM, MoF Agenda What is IT Governance? Aspects of IT Governance What banks should consider before implementing these aspects? What banks should do for implementation

More information

14 October 2015 ISACA Curaçao Conference By: Paul Helmich

14 October 2015 ISACA Curaçao Conference By: Paul Helmich Governance, Risk & Compliance A practical approach 14 October 2015 ISACA Curaçao Conference By: Paul Helmich Topics today What is GRC? How much of all the GRC literature, tools, etc. do I need to study

More information

IT Governance: framework and case study. 22 September 2010

IT Governance: framework and case study. 22 September 2010 IT Governance: framework and case study Presenter Yaowaluk Chadbunchachai Advisory Services Ernst & Young Corporate Services Limited Presentation topics ERM and IT governance IT governance framework IT

More information

Stepping Through the Business Continuity Plan Audit

Stepping Through the Business Continuity Plan Audit Stepping Through the Business Continuity Plan Audit Doug Menendez Graybar Electric Company Presentation to MidAmerica Contingency Planning Forum February 16, 2012 Introduction Whether it is from internal

More information

Information Security Management Systems

Information Security Management Systems Information Security Management Systems Øivind Høiem CISA, CRISC, ISO27001 Lead Implementer Senior Advisor Information Security UNINETT, the Norwegian NREN About Øivind Senior Adviser at the HE sector

More information

THE SOUTH AFRICAN HERITAGE RESOURCES AGENCY ENTERPRISE RISK MANAGEMENT FRAMEWORK

THE SOUTH AFRICAN HERITAGE RESOURCES AGENCY ENTERPRISE RISK MANAGEMENT FRAMEWORK THE SOUTH AFRICAN HERITAGE RESOURCES AGENCY ENTERPRISE RISK MANAGEMENT FRAMEWORK ACCOUNTABLE SIGNATURE AUTHORISED for implementation SIGNATURE On behalf of Chief Executive Officer SAHRA Council Date Date

More information

26 February 2007. Ms. Nancy M. Morris, Secretary Securities and Exchange Commission 100 F Street NE Washington, DC 20549-1090

26 February 2007. Ms. Nancy M. Morris, Secretary Securities and Exchange Commission 100 F Street NE Washington, DC 20549-1090 3701 Algonquin Road, Suite 1010 Telephone: 847.253.1545 Rolling Meadows, Illinois 60008, USA Facsimile: 847.253.1443 Web Sites: www.isaca.org and www.itgi.org 26 February 2007 Ms. Nancy M. Morris, Secretary

More information

University of St. Gallen Law School Law and Economics Research Paper Series. Working Paper No. 2008-19 June 2007

University of St. Gallen Law School Law and Economics Research Paper Series. Working Paper No. 2008-19 June 2007 University of St. Gallen Law School Law and Economics Research Paper Series Working Paper No. 2008-19 June 2007 Enterprise Risk Management A View from the Insurance Industry Wolfgang Errath and Andreas

More information

Criticism of Implementation of ITSM & ISO20000 in IT Banking Industry. Presented by: Agus Sutiawan, MIT, CISA, CISM, ITIL, BSMR3

Criticism of Implementation of ITSM & ISO20000 in IT Banking Industry. Presented by: Agus Sutiawan, MIT, CISA, CISM, ITIL, BSMR3 Criticism of Implementation of ITSM & ISO20000 in IT Banking Industry Presented by: Agus Sutiawan, MIT, CISA, CISM, ITIL, BSMR3 Outline What is IT Service Management What is ISO 20000 Step by step implementation

More information

APPLICATION OF KING III CORPORATE GOVERNANCE PRINCIPLES 2014

APPLICATION OF KING III CORPORATE GOVERNANCE PRINCIPLES 2014 WOOLWORTHS HOLDINGS LIMITED CORPORATE GOVERNANCE PRINCIPLES 2014 CORPORATE GOVERNANCE PRINCIPLES 2014 CORPORATE GOVERNANCE PRINCIPLES 2014 This table is a useful reference to each of the King III principles

More information

Governance and Management of Information Security

Governance and Management of Information Security Governance and Management of Information Security Øivind Høiem, CISA CRISC Senior Advisor Information Security UNINETT, the Norwegian NREN About Øivind Senior Adviser at the HE sector secretary for information

More information

GOVERNING INFORMATION SECURITY IN CONJUNCTION WITH COBIT AND ISO 27001

GOVERNING INFORMATION SECURITY IN CONJUNCTION WITH COBIT AND ISO 27001 1 GOVERNING INFORMATION SECURITY IN CONJUNCTION WITH COBIT AND ISO 27001 Tolga MATARACIOGLU 1 and Sevgi OZKAN 2 1 TUBITAK National Research Institute of Electronics and Cryptology (UEKAE), Department of

More information

The College of New Jersey Enterprise Risk Management and Higher Education For Discussion Purposes Only January 2012

The College of New Jersey Enterprise Risk Management and Higher Education For Discussion Purposes Only January 2012 The College of New Jersey Enterprise Risk Management and Higher Education For Discussion Purposes Only Agenda Introduction Basic program components Recent trends in higher education risk management Why

More information

Fraud Risk Management

Fraud Risk Management Fraud Risk Management Overview Discussion Questions 1) Does your organization follow a specific risk management model? If so, which one? Do you think this model adequately addresses the risks your organization

More information

Quality Manual ISO 9001:2015 Quality Management System

Quality Manual ISO 9001:2015 Quality Management System Quality management input comprises the standard requirements from ISO 9001:2015 which are deployed by our organization to achieve customer satisfaction through process control. Quality Manual ISO 9001:2015

More information

INFORMATION TECHNOLOGY FLASH REPORT

INFORMATION TECHNOLOGY FLASH REPORT INFORMATION TECHNOLOGY FLASH REPORT ISACA Releases COBIT 5: Updated Framework for the Governance and Management of IT May 18, 2012 In April, ISACA released COBIT 5 as a replacement for its current globally

More information

RISK BASED AUDITING: A VALUE ADD PROPOSITION. Participant Guide

RISK BASED AUDITING: A VALUE ADD PROPOSITION. Participant Guide RISK BASED AUDITING: A VALUE ADD PROPOSITION Participant Guide About This Course About This Course Adding Value for Risk-based Auditing Seminar Description In this seminar, we will focus on: The foundation

More information

IT Governance, Risk and Compliance (GRC) : A Strategic Priority. Joerg Asma

IT Governance, Risk and Compliance (GRC) : A Strategic Priority. Joerg Asma IT Governance, Risk and Compliance (GRC) : A Strategic Priority Joerg Asma Agenda Introductions An Overview of IT Governance Risk & Compliance (IT-GRC) The Value Proposition Implementing an IT-GRC Program

More information

IT GOVERNANCE WITH ROBERT GOODSELL, MANAGING DIRECTOR JOE BRUTSCHE, DIRECTOR

IT GOVERNANCE WITH ROBERT GOODSELL, MANAGING DIRECTOR JOE BRUTSCHE, DIRECTOR IT GOVERNANCE WITH ROBERT GOODSELL, MANAGING DIRECTOR JOE BRUTSCHE, DIRECTOR PwC April 4, 2013 Agenda The challenge IT Governance defined IT Governance components Next steps Questions THE CHALLENGE The

More information

Mapping COBIT 5 with IT Governance, Risk and Compliance at Ecopetrol S.A. By Alberto León Lozano, CISA, CGEIT, CIA, CRMA

Mapping COBIT 5 with IT Governance, Risk and Compliance at Ecopetrol S.A. By Alberto León Lozano, CISA, CGEIT, CIA, CRMA Volume 3, July 2014 Come join the discussion! Alberto León Lozano will respond to questions in the discussion area of the COBIT 5 Use It Effectively topic beginning 21 July 2014. Mapping COBIT 5 with IT

More information

SECURITY RISK MANAGEMENT

SECURITY RISK MANAGEMENT SECURITY RISK MANAGEMENT ISACA Atlanta Chapter, Geek Week August 20, 2013 Scott Ritchie, Manager, HA&W Information Assurance Services Scott Ritchie CISSP, CISA, PCI QSA, ISO 27001 Auditor Manager, HA&W

More information

International Diploma in Risk Management Application for Non-standard Exemption

International Diploma in Risk Management Application for Non-standard Exemption Insitute of Risk Management Qualifications International Diploma in Risk Management Application for Non-standard Exemption For office use only Date received: Ackn. date: EDU: Membership number: PLEASE

More information

How to measure your business resiliency

How to measure your business resiliency How to measure your business resiliency Define the KPI s/kri s and scorecards to control your security and business continuity capabilities Krzysztof Pulkiewicz BCMLogic krzysztof.pulkiewicz@bcmlogic.com

More information

Risk und Performance Management in Stürmischen Zeiten mit Oracle GRC

Risk und Performance Management in Stürmischen Zeiten mit Oracle GRC Oracle Applications Day Zürich, 1. Juli 2009 Risk und Performance Management in Stürmischen Zeiten mit Oracle GRC Steven Hagner EMEA GRC Sales Organization 1 Safe Harbor Statement The following is intended

More information

Compliance Risk Management IT Governance Assurance

Compliance Risk Management IT Governance Assurance Compliance Risk Management IT Governance Assurance Sigma Technology Partners offers its clients number of assurance services including SAS 70 Type I and SAS 70 Type II audits. Our team of CPA s, CISA s

More information

ENTERPRISE RISK M A NAGEMENT POLICY

ENTERPRISE RISK M A NAGEMENT POLICY Tablelands Regional Council ENTERPRISE RISK M A NAGEMENT POLICY Draft Final Policy No: PD 3.3.1 File ref: PD 3.3.1 Policy Section: INSURANCE AND RISK MANAGEMENT Version: 1 Date Adopted: 7 July 2010 Review

More information

Linking Risk Management to Business Strategy, Processes, Operations and Reporting

Linking Risk Management to Business Strategy, Processes, Operations and Reporting Linking Risk Management to Business Strategy, Processes, Operations and Reporting Financial Management Institute of Canada February 17 th, 2010 KPMG LLP Agenda 1. Leading Practice Risk Management Principles

More information

Internal/External Audits

Internal/External Audits Internal/External Audits Joint World Bank/Federal Reserve System Seminar for Senior Bank Supervisors Arthur Lindo Federal Reserve Board Presentation Topics ❿Internal Audit, Corporate Governance and Controls

More information

Measuring IT Governance Performance: a Research Study on CobiT- Based Regulation Framework Usage

Measuring IT Governance Performance: a Research Study on CobiT- Based Regulation Framework Usage Measuring IT Governance Performance: a Research Study on CobiT- Based Regulation Framework Usage Mario Spremic, Ph.D., CGEIT, Full Professor Abstract After explaining the Information Technology (IT) governance

More information

Certified Software Quality Assurance Professional VS-1085

Certified Software Quality Assurance Professional VS-1085 Certified Software Quality Assurance Professional VS-1085 Certified Software Quality Assurance Professional Certified Software Quality Assurance Professional Certification Code VS-1085 Vskills certification

More information

IT Risk Management Life Cycle and enabling it with GRC Technology. 21 March 2013

IT Risk Management Life Cycle and enabling it with GRC Technology. 21 March 2013 IT Risk Management Life Cycle and enabling it with GRC Technology 21 March 2013 Overview IT Risk management lifecycle What does technology enablement mean? Industry perspective Business drivers Trends

More information

JOB ANNOUNCEMENT. Chief Security Officer, Cheniere Energy, Inc.

JOB ANNOUNCEMENT. Chief Security Officer, Cheniere Energy, Inc. JOB ANNOUNCEMENT Chief Security Officer, Cheniere Energy, Inc. Position Overview The Vice President and Chief Security Risk Officer (CSRO) reports to the Chairman, Chief Executive Officer and President

More information

Guidelines for Financial Institutions Legislative Compliance Management (LCM) Date: July 2004 Introduction

Guidelines for Financial Institutions Legislative Compliance Management (LCM) Date: July 2004 Introduction Guidelines for Financial Institutions Legislative Compliance Management (LCM) Date: July 2004 Introduction Regulatory risk is the risk of non-compliance with applicable regulatory requirements. For the

More information

Internal Control over Financial Reporting Guidance for Smaller Public Companies

Internal Control over Financial Reporting Guidance for Smaller Public Companies Internal Control over Financial Reporting Guidance for Smaller Public Companies Frequently Asked Questions Internal Control over Financial Reporting Guidance for Smaller Public Companies Frequently Asked

More information

AN OVERVIEW OF INFORMATION SECURITY STANDARDS

AN OVERVIEW OF INFORMATION SECURITY STANDARDS AN OVERVIEW OF INFORMATION SECURITY STANDARDS February 2008 The Government of the Hong Kong Special Administrative Region The contents of this document remain the property of, and may not be reproduced

More information

Practical perspectives in advancing data governance to create improved data quality frameworks

Practical perspectives in advancing data governance to create improved data quality frameworks Practical perspectives in advancing data governance to create improved data quality frameworks Presented by: Micheal Axelsen Director Applied Insight Pty Ltd INTRODUCTION About this presentation Purpose

More information

G11 EFFECT OF PERVASIVE IS CONTROLS

G11 EFFECT OF PERVASIVE IS CONTROLS IS AUDITING GUIDELINE G11 EFFECT OF PERVASIVE IS CONTROLS The specialised nature of information systems (IS) auditing and the skills necessary to perform such audits require standards that apply specifically

More information

Governance SPICE. ISO/IEC 15504 for Internal Financial Controls and IT Management. By János Ivanyos, Memolux Ltd. (H)

Governance SPICE. ISO/IEC 15504 for Internal Financial Controls and IT Management. By János Ivanyos, Memolux Ltd. (H) Governance SPICE ISO/IEC 15504 for Internal Financial Controls and IT Management By János Ivanyos, Memolux Ltd. (H) 1. Evaluating Internal Controls against Governance Frameworks Corporate Governance is

More information

Guideline for Roles & Responsibilities in Information Asset Management

Guideline for Roles & Responsibilities in Information Asset Management ISO 27001 Implementer s Forum Guideline for Roles & Responsibilities in Information Asset Management Document ID ISMS/GL/ 003 Classification Internal Use Only Version Number Initial Owner Issue Date 07-08-2009

More information