ROLLING MEADOWS, USA: From cyberattacks and malicious employee actions to hacks into corporate social media accounts, 2013 is turning out to be a watershed year for technology-related enterprise threats.
Organizations must integrate technology risk much more aggressively into enterprise risk management (ERM) if they want to reduce future loss and improve business performance, says a new guide from global IT association ISACA.
Mismanaging IT risk can reduce business value, create financial loss, damage corporate reputation and overlook promising new opportunities.
According to a study by the Project Management Institute, every billion dollars that an enterprise spends represents $135 million in risk. ISACA's COBIT 5 for Risk, developed by a global committee of risk professionals, provides a detailed guide to governing and managing IT risk in the face of today's unpredictable threats.
"The 2013 risk landscape is unprecedented, marked by deliberate employee actions like the Snowden leaks, denial-of-service attacks against major banks, hacks into prominent Twitter and Facebook accounts, and cyberattacks against both businesses and government," said Steven Babb, chair of the COBIT 5 for Risk Task Force. "It's no longer enough to identify a risk and add it to a risk register. COBIT 5 for Risk provides key guidance on tying IT risk directly to strategic business outcomes."
COBIT 5 for Risk, available at www.isaca.org/cobit5forrisk, is based on the globally recognized COBIT 5 framework for the governance and management of enterprise IT. The guide provides 20 risk scenario categories with potential responses. These scenarios include employee sabotage and theft, data breaches, disclosure of sensitive information through social media, industrial espionage, and support for innovation.
Organizations must integrate technology risk much more aggressively into enterprise risk management (ERM) if they want to reduce future loss and improve business performance, says a new guide from global IT association ISACA.
Mismanaging IT risk can reduce business value, create financial loss, damage corporate reputation and overlook promising new opportunities.
According to a study by the Project Management Institute, every billion dollars that an enterprise spends represents $135 million in risk. ISACA's COBIT 5 for Risk, developed by a global committee of risk professionals, provides a detailed guide to governing and managing IT risk in the face of today's unpredictable threats.
"The 2013 risk landscape is unprecedented, marked by deliberate employee actions like the Snowden leaks, denial-of-service attacks against major banks, hacks into prominent Twitter and Facebook accounts, and cyberattacks against both businesses and government," said Steven Babb, chair of the COBIT 5 for Risk Task Force. "It's no longer enough to identify a risk and add it to a risk register. COBIT 5 for Risk provides key guidance on tying IT risk directly to strategic business outcomes."
COBIT 5 for Risk, available at www.isaca.org/cobit5forrisk, is based on the globally recognized COBIT 5 framework for the governance and management of enterprise IT. The guide provides 20 risk scenario categories with potential responses. These scenarios include employee sabotage and theft, data breaches, disclosure of sensitive information through social media, industrial espionage, and support for innovation.
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