Page 17 - COSO Guidance

Thought Leadership in ERM | Enterprise Risk Management for Cloud Computing | 9

While adopting cloud computing could be a major change The original COSO ERM framework was illustrated as a
for an organization, management can use a proven ERM cube. In Exhibit 5.2, the framework is represented as a
framework to effectively assess and manage the related pathway in which each ERM component (starting with
risks. The framework put forth in COSO’s Enterprise Risk internal environment) is applied in order to understand
Management – Integrated Framework has established the specific advantages and disadvantages that a given
a common language and foundation that can be used to solution candidate would bring to the organization.
construct an effective cloud governance program tailored When the process is completed for each cloud solution
specifically for a given cloud solution. candidate, the ideal cloud solution will emerge along with
its related requisites for establishing cloud governance.

Exhibit 5.2 Applying the COSO ERM Framework to Cloud Computing Options

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