CA FINAL ISCA , NMQs Chapter 1, Governance.

Question
Discuss key benefits of COBIT 5 framework.
Answer-
The key benefits of COBIT 5 framework are as follows:
• A comprehensive framework such as COBIT 5 enables enterprises in achieving
their objectives for the governance and management of enterprise IT.
• The best practices of COBIT 5 help enterprises to create optimal value from IT by maintaining a balance between realizing benefits and optimizing risk levels and resource use.
• Further, COBIT 5 enables IT to be governed and managed in a holistic manner for the entire enterprise, taking in the full end-to-end business and IT functional areas of responsibility, considering the IT related interests of internal and external stakeholders.
• COBIT 5 helps enterprises to manage IT related risk and ensures compliance,
continuity, security and privacy.
• COBIT 5 enables clear policy development and good practice for IT management including increased business user satisfaction.
• The key advantage in using a generic framework such as COBIT 5 is that it is useful for enterprises of all sizes, whether commercial, not-for-profit or in the public sector.
• COBIT 5 supports compliance with relevant laws, regulations, contractual agreements and policies.