Imagine that you have been hired as an Information Security Manager in a medium-sized organization. The senior leadership in the organization needs to provide an analysis of the SOX Act, the COBIT Framework, and the COSO Framework. The senior leadership needs to understand, at the management level, the basic SOX requirements and the difference between the COSO framework and the COBIT framework in establishing internal audit controls. Each of these topics has detailed information available on the Web; however, the CIO needs an enhanced executive overview to provide to senior management.
Write a three to four (3-4) page paper (Enhanced Executive Overview) in which you:
1. Summarize the main elements of the COSO Framework.
2. Summarize the main elements of the COBIT Framework.
3. Summarize the main elements of the SOX Act.
4. Analyze the main similarities and differences between the COSO framework and the COBIT framework.
5. Examine how each of these frameworks can be implemented in the organization for assurance and auditing for SOX compliance. Include the strengths and weaknesses of each framework in an SOX environment.
6. Describe challenges an organization might face when implementing the COSO and COBIT Frameworks.
7. Suggest two (2) methods to overcome challenges faced when implementing frameworks such as the COSO Framework and the COBIT Framework.
8. Use at least three (3) quality resources in this assignment (in addition to and that support the documents from the COSO Website referenced in this assignment).