Are You Protecting Your Digital Assets?
Safeguarding assets has been an important objective of all organizations for centuries. In today’s digital age however, what does safeguarding your assets really mean? Who is responsible for it? And how is “protection” actually achieved?
The COSO framework for enterprise risk management recognized the importance of safeguarding assets as an implicit component of effective internal control. Its landmark 1992 framework even defined internal control as: “[A] process … designed to provide reasonable assurance regarding the achievement of objectives in the following categories: effectiveness and efficiency of operations; reliability of financial reporting; and compliance with applicable laws and regulations.”