* Michele Grieco
July 20, 2015
Prof. Gregory Gleghorn

What is transparency in the context of IT governance, and why is it important? How does the COBIT framework provide for internal audit and corrective action?

The transparency of IT Governance is to cover the culture, organization, policies and practices. This type of transparency in the government financial management is very important in a way to produce a proper, complete performance measurement system and to provide insufficient disclosure of these performances information to the broader public. This is why the point of transparency becomes a measurement for health and security in governments, leadership and business in almost all the countries in the world especially in the well developed once, because the public certainly wants the government to be transparent.
Information Technology settles how well services are provided and how good the company is satisfying its customers. By providing services the companies can also expose their businesses to risk that can affect with their daily operations and transactions. In this case management must be able to make precise decisions in a way to minimize any risks that could affect the company really badly. It's virtually impossible to have too much transparency or education about IT governance, in fact both of them can go well together and so the more transparency of the governance practices, the more confidence in the governance there will be. Companies with more effective Information Technology governance had more senior management involvement. CIOs must be actively involved in IT governance for success, better implementation and explanation as well to indicate how new IT implementation works. Other senior managers must participate in the committees, basically being the people that approves processes, and performs reviews.
In large enterprises companies it is necessary to consider IT governance in many different levels. The first thing is that enterprise-wide IT governance is driven by a small number of company strategies and goals. Enterprises with distinct IT functions in divisions, or even geographically placed around the world require a connected layer of IT governance. To give an Example JPMorgan Chase has IT governance at the enterprise level. The lower levels of IT governance, instead, are subjective by tools that are already designed for higher levels industries, and in this case we advocate starting with the enterprise-wide IT governance, as it will have consequences for the other levels of governance. However, starting an enterprise-wide business rare away is sometimes not possible because the amount of resource to allocate to such a big thing to build is too much that will give complications later on.
In the past decade, various laws and regulations have surfaced attempting to strengthen the security of all the information stored within the companies which in this case the information assets are entrusted. The result of these laws and regulations, various these security controls we define them as "standards" and/or "frameworks" which they have evolved and become popular to meet the requirements of such laws. These Standards and control Framework become a valuable tools to make sure the security is planned, organized, tested and implemented adequately. An e-mail policy, a virus detection procedure, a password selection practice, are only a few examples of controls since these prevent, detect and correct undesired events
COBIT has defined various types of IT resources, which need to be managed. These resources are: data, applications systems, technology, facilities and people. COBIT's makes sure that these resources are well used for achieving the business goals, and in order to manage these resources, COBIT has defined three criteria, which should be met which are: quality requirements, fiduciary requirements, and security requirements. These three requests are then broken down into more qualities which a few of them are: efficiency, integrity and availability.