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This article will aid you to understand some similarities and differences between two frameworks: COSO and COBIT. Some basic knowledge about these networks is required particularly for E-Commerce. COSO and COBIT are comparable frameworks, COSO's approach is more broad-based, fewer complexes, without a lot technical points and COBIT is more complete, process-oriented, risk, management needs, and it relates more to technical issues. COBIT covers quality and security requirements akin to effectiveness, efficiency, integrity, availability, compliance, confidentiality and reliability of information. These are the foundations for the management goals of COBIT.

As recognized by the COSO agenda, the process of inside control contains of 5 components. These make up for a highly competent framework for investigating and evaluating the system of internal management that is put to make use of in a business. These components are said under:

- "Control Setting, this deals with setting the character of a business and influencing the management awareness of its workers and it includes the honor, ethical values, working methods of the management, system for assigning writerity and the mandatory procedures for organizing and creating the staff in a enterprise association.
- Risk assessment, which contains the detection and examination of the risks which might be most likely to pose a menace to attaining desired objectives.
- Control Activities, these are the principles and laws which assist in guaranteeing that the orders of the administration are satisfactorily carried out.
- Info and communication which are answerable for all news associated to the operation and finances and many others of a business that helps in its smooth running
- Monitoring of internal controls which points out any shortage in its quality making positive it is remedied so the system can be improved "(Bushman, 2007).

The domains of COBIT are:

- Planning and organizing
- Acquisition and implementation
- Mange IT investment
- Delivery and support
- Monitoring and evaluation.

COBIT focuses on IT components, which are process orientated. Moreover, the COBIT comprises the system of development, operation, delivery, and implementation. COBIT helps strengthens assessment, understanding and train of appropriate internal controls. COBIT also, provides a very good framework for risk management and improves communication amongst administration, customers and auditors concerning IT governance. Accordingly, COSO focuses on monitoring and analysis, which is also one of the COBIT's domains. Subsequently, COSO and COBIT build collectively a powerful evaluation of IT based mostly systems and processes.

For instance, the corporate is implementing a new system. Subsequently, the enterprise can take an advantage of COBIT and COSO. In this case, COBIT will be very helpful to span the system on technology based processes. CABIT would also assist in configuration of completely different systems (new with an existing accounting system). COSO would assist to evaluate the monetary half and risk. Moreover, the COSO additionally will evaluation all accounting related features and the COBIT will assist in technological integration and it additionally will help with delivery and support of the implementation.

The combination of COSO and COBIT might be very useful for AFM Corporation. All evaluation and documentation of processes might be scoped by the COSO framework and all technological issues may very well be reviewed in particulars by the COBIT framework. COBIT would additionally help with the complexity of software system. Alternatively, the COSO will support management activities and the COBIT will help in detailed monitoring and evaluating.

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