In this lesson, dive into the intricacies of information technology as Nick Palazzolo, CPA, methodically dissects practice questions to enhance understanding of IT governance. With a focus on the COBIT framework, Nick clarifies the origins and applications of this important governance tool, distinguishing it from other frameworks and standard-setting bodies. He breaks down the principles of IT governance, emphasizing its company-wide importance and the need to align IT goals with overall strategic goals. Nick also demystifies common IT service models, explaining the differences between software as a service (SaaS) and platforms as a service (PaaS), and effectively guides through the identification of IT risks, including patent infringement versus malware threats. This lesson not only prepares for correct responses on exams but also encourages a critical approach to evaluating IT risks and governance mechanisms.