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The Role of the Cobit 2019 Framework in Achieving Audit Effectiveness in Light of the Electronic Transformation of Financial Activities

Fadhil hussein Abbas, Ashraf Hashim Faris Alabdoon, Maytham Abed Kadhim

Abstract

The research aims to identify the role of internal control systems in light of the electronic transformation of financial activities carried out by the economic unit, particularly governmental ones, and the role of the Cobit 2019 framework in enhancing the efficiency of those control procedures and bridging the gap arising from that transformation. The research problem focuses on the requirements for using the 2019 COBIT framework in economic units in light of the electronic transformation of activities and achieving the effectiveness of internal control over them, the descriptive analytical method was relied upon to identify the research problem, as well as the inductive method to study and clarify the role of internal control systems in facing the risks of electronic transformation of financial activities. The research sample was selected from one of the economic units in the Iraqi environment, funded by the Ministry of Finance. The research reached several conclusions, the most notable of which is the existence of a gap in some electronic financial activities that are not covered by regulatory procedures, creating opportunities that can be exploited to establish fraudulent operations. In addition to the fact that the framework to create fraudulent operations. Moreover, the 2019 COBIT framework contains a set of principles and objectives that enhance control measures over the activities of economic units in light of the electronic transformation of those activities. The research recommended the necessity of adopting 2019 COBIT in developing the internal control system and its activities on one hand, and the governance of information technology on the other hand. In addition to bridging the gap resulting from that transformation.

Keywords

2019COBITinternal controlfraudfinancial activitiesinformation technology.

References

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