05-03-2015
05-03-2015

COSO in the Cyber Age

Rapid innovations in technology are creating a complex and interconnected world with the number of Internet users soaring from a few million to nearly 3 billion in less than a generation. This cyber revolution boosts productivity and expands markets, while making customer transactions nearly effortless. But it also is fueling a new class of digital crime in which hackers plunder and sell crucial data to the highest bidder. Businesses and governments are struggling against the onslaught of breaches by cyber criminals, many backed by nation-states, organized crime, terrorists and even so-called “hacktivists” with social or political agendas. Most acknowledge that cyber attacks are virtually impossible to stop. They must, therefore, be managed. In January 2015 the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released a new research report that provides direction on how the Internal Control-Integrated Framework (2013) and the Enterprise Risk Management-Integrated Framework (2004) can help organizations effectively and efficiently evaluate and manage cyber risks.
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