Lesson: Cloud Computing Governance Through COSO Frameworks

In this lesson, Nick Palazzolo, CPA, explores how the COSO framework, originally developed by the Committee of Sponsoring Organizations of the Treadway Commission, can be adeptly applied to cloud computing governance. Nick breaks down the five essential components of the COSO framework—control environment, risk assessment, control activities, information and communication, and monitoring activities—and illustrates how each can be leveraged to enhance governance in the cloud computing environment. Emphasizing the importance of a strong control environment and robust risk assessments, he explains the roles of management and IT staff in creating a secure, compliant cloud atmosphere. Through this detailed discussion, Nick provides insights into adapting COSO’s guidelines to address the dynamically evolving needs of cloud technology and governance, ensuring that internal control systems remain robust amidst tech advancements.