COSO (Committee of Sponsoring Organizations of the Treadway Commission)
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is a globally recognized framework for risk management, internal control, and corporate governance. While COSO is traditionally used for financial reporting and enterprise risk management (ERM), it has been increasingly applied to cybersecurity risk management to help organizations align their security practices with business objectives.
Streamlined Risk Assessment Process
Simplify IT risk assessments by using standardized templates, dynamically scoring and ranking risks. This allows for a clear understanding of risk severity and the likelihood of potential threats, helping to prioritize responses effectively.
Centralized Control Management
Create a unified control library that maps to processes, risks, and regulations. This simplifies information-sharing across teams like internal audit and compliance, while helping prioritize high-risk or impactful controls for improved decision-making.
Collaborative Stakeholder Engagement
Enhance communication with stakeholders through automated surveys and evidence requests. Maintain an audit trail of all interactions, ensuring smooth collaboration and timely evidence collection across multiple audits.
Simplified Evidence Collection
Reduce stakeholder fatigue by reusing collected evidence for various audits and assessments. Automate evidence requests based on frequency, and centralize storage for easy access, simplifying the audit process for both internal teams and external auditors.
Efficient Testing, Monitoring, and Reporting
Design and schedule control tests with standard templates, making it easier to record results and gather supporting documentation. Monitor and report on test outcomes with detailed, graphical dashboards, offering real-time insights for control improvements and decision-making.