International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online) DOI: 10.30845/ijbss

Implementing COSO ERM Framework to Mitigate Cloud Computing Business Challenges
Khaled Almgren

Cloud computing can be defined as a model for enabling convenient, on demand network access to a shared pool of configurable computing resources (e.g. networks, servers, storage, applications, and services) that can be rapidly provisioned and released with minimal management efforts or service provider interaction. Despite the many benefits that such a process confers to a business entity, there are several challenges that have discouraged its adoption among business entities. Most of them are mainly with regards to the privacy and confidentiality of data, data theft, and threat to continuity of business. Using COSO-ERM integrated framework, an organization can be able to come up with a reliable response to the various threats posed by these risks. A survey carried out on the acceptability of the COSO ERM framework by managers of various business entities showed that the framework could be widely accepted by various organization as a means of managing various risks associated with the adoption of cloud computing. 86 percent of the respondent agreed that the framework could provide a reliable solution for organizations looking for a reliable risk response plan.

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