The number of organizations adopting clouding computing increases day by day. The COSO has published a thought paper on Enterprise Risk Management for Cloud Computing. In this paper, it provide guidelines on using the COSO Enterprise Risk Management . Integrated Framework for performing the assessment of risks from the cloud computing solutions.
Over 8 chapters, it details the opportunities and risks of cloud computing, how it changes the business environment, approaching the enterprise risk management (ERM) in cloud computing environment, recommendations on risk responses and what are the considerations for board oversight, management decisions etc..
The intent of this publication is to leverage the principles of COSO.s Enterprise Risk Management . Integrated Framework in order to provide guidelines that will identify succinctly the risks and impact cloud computing will have on an organization. The more educated executives become about the risks and benefits of cloud computing, the more effectively they will be able to prepare their organizations for the future. The guidance presented here will enable executives to identify, monitor, and mitigate or accept the risks that come with using cloud computing.
Download the COSO paper from here