Abstract
M.Com. (Computer Auditing)
Information technology (IT) is increasingly evolving to be crucial in the operation,
support, sustainability and expansion of the modern organisation and should be
managed as an important strategic asset that creates opportunities and provides a
competitive edge. Embracing IT oversight as part of its fiduciary duties is indicative
of the board’s leadership, accountability and responsibility, which in turn
demonstrates its foresight with regard to understanding the enormous impact IT has
on strategic decision-making. However, owing to the complexity and general lack of
understanding of IT, the management of IT is often treated as a separately managed
value-providing asset and rarely receives the necessary attention of the board,
thereby creating a disconnect between the board and IT. The result is that the board
is not able to effectively fulfil its role in terms of IT governance. King III provides
principles and recommended practices for effective IT governance in order to create
a greater awareness at board level, but no detailed guidance is provided. Instead,
numerous international guidelines are recommended to be used as frameworks to
assist with the effective implementation of IT governance. COBIT 5 provides, as part
of its governance process practices, related guidance activities linking it to the seven
IT governance principles of King III, making it a practical framework to implement
King III recommendations...