Weekly Blog #1

Some may say that simply hiring ethical employees can eliminate the need for the resources spent on IT Governance, however, there are many flaws within that argument. Have you ever had somebody in your life that you trusted? Somebody you thought you knew only for them to deceive you? This has happened to me and my family at the beginning of 2020 when my grandmother passed away. My uncle who I had known my entire life contested the will to take away from my aunt and father and gain more wealth. It is difficult to determine whether a person is “ethical” in which the word itself relies heavily on perspective. They could be putting on façade or even if they do match the vision of a morally right person there is no guarantee that they will stay that way. The circumstances and experiences people go through can change them and can lead to them committing fraud if given the opportunity (Wells, 1997).

This is where IT Governance comes into play as technology has become pervasive in both the personal lives and businesses of others and created a dependency on IT (De Haes & Can Grembergen, 2009). Its focus is to manage risk and security and to safeguard IT information and can be done through internal control systems such as COBIT 5 which helps to deter fraud by using a holistic approach that identifies threats within all business processes and external factors such as associated stakeholders (Rae & Subramaniam, 2008). Without the application of IT Governance, the risk and opportunity for fraud, bribery and corruption to occur would be significantly higher.

De Haes, Steven and Van Grembergen, Wim (2009) 'An Exploratory Study into IT Governance: Implementations and its Impact on Business/IT Alignment', Information Systems Management, 26: 2, 123 — 137

Rae, K., & Subramaniam, N. (2008). Quality of internal control procedures: Antecedents and moderating effect on organisational justice and employee fraud. Managerial Auditing Journal, 23(2), 104-124.

Wells, J. (1997). Occupational Fraud and Abuse. Obsidian Publishing Company.

Useful Links

Link to YouTube on COBIT 5: https://www.youtube.com/watch?v=Y8kqh9q3Jwg&ab_channel=OrbusSoftware

Link to YouTube on the Fraud Triangle: https://www.youtube.com/watch?v=Tb6QX9Yy1GM&ab_channel=TED-Ed

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