Principle 3 A governance system should be dynamic. This means that each time one or more of the design factors are changed (e.g., a change in strategy or technology), the impact of these changes on the EGIT system must be considered. A dynamic view of EGIT will lead toward a viable and future-proof EGIT system. Current Practice Recommendation Principle 4 A governance system should clearly distinguish between governance and management activities and structures. Current Practice Recommendation Principle 5 A governance system should be tailored to the enterprise's needs, using a set of design factors as parameters to customize and prioritize the governance system components. Current Practice Recommendation Principle 6 A governance system should cover the enterprise end to end, focusing not only on the IT function but on all technology and information processing the enterprise puts in place to achieve its goals, regardless where the processing is located in the enterprise.
Principle 3 A governance system should be dynamic. This means that each time one or more of the design factors are changed (e.g., a change in strategy or technology), the impact of these changes on the EGIT system must be considered. A dynamic view of EGIT will lead toward a viable and future-proof EGIT system. Current Practice Recommendation Principle 4 A governance system should clearly distinguish between governance and management activities and structures. Current Practice Recommendation Principle 5 A governance system should be tailored to the enterprise's needs, using a set of design factors as parameters to customize and prioritize the governance system components. Current Practice Recommendation Principle 6 A governance system should cover the enterprise end to end, focusing not only on the IT function but on all technology and information processing the enterprise puts in place to achieve its goals, regardless where the processing is located in the enterprise.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Principle 3
A governance system should be dynamic. This means that each time one or more of the design factors
are changed (e.g., a change in strategy or technology), the impact of these changes on the EGIT
system must be considered. A dynamic view of EGIT will lead toward a viable and future-proof EGIT
system.
Current Practice
Recommendation
Principle 4
A governance system should clearly distinguish between governance and management activities and
structures.
Current Practice
Recommendation
Principle 5
A governance system should be tailored to the enterprise's needs, using a set of design factors as
parameters to customize and prioritize the governance system components.
Current Practice
Recommendation
Current Practice
Principle 6
A governance system should cover the enterprise end to end, focusing not only on the IT function but
on all technology and information processing the enterprise puts in place to achieve its goals,
regardless where the processing is located in the enterprise.
Recommendation
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
2019 COBIT
Principle 1
Each enterprise needs a governance system to satisfy stakeholder needs and to generate value from the use of I&T. Value reflects a balance among benefits, risk and resources, and enterprises need an actionable strategy and governance system to realize this value.
Current Practice Recommendation
Principle 2
A governance system for enterprise I&T is built from a number of components that can be of different types and that work together in a holistic way.
Current Practice Recommendation
Solution
by Bartleby ExpertKnowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education