New standards for internal controls have significant implications on how IT is managed and IT costs and productivity.

Question

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New standards for internal controls, such as the recently updated COSO framework, emphasize the importance of IT controls and their integration with overall organizational controls. This has significant implications on how IT is managed, including the need for more formalized processes and documentation, increased monitoring and testing, and potential investments in technology to support control activities. These changes could impact IT costs and productivity.

New Standards for Internal Controls Have Significant Implications on How