Importance of COBIT 5 in your business

Blog 2

Risks are an inevitable part of any business. COBIT 5 for Risk is dedicated to providing guidance on how to govern and manage IT risk using the 5 COBIT  principles below.

Principles of the COBIT 5

Principle 4 is based on the importance of enabling a holistic approach to managing risks. COBIT takes such approach by using the 7 enablers. Why? Because enablers, which are factors that determines the success of governance and management of IT, are applicable across the whole entity.

An interesting article by Axel Buecker highlights the importance of taking a holistic approach to safeguarding the entire organisation. Thus the COBIT framework takes a holistic approach by giving attention to both processes and enablers.This includes people, processes, data and technology now that the traditional boundaries of a business have disappeared with the emergence of newer technology.


COBIT gives guidance on managing risks and constructing appropriate risk culture for the organisation. COBIT also addresses risk in terms of risk scenarios, which are generic cases used as references so that management does not overlook common risks.

Five measures to minimise fraud risk

•  Keeping computer systems up to date
•  Ensuring staff are aware of the importance of securing both company and personal information – setting the “tone at the top” is effective as I discussed in Blog 1
•  Checking the proof of identity
•  Implementing internal controls
•  Good corporate culture