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GAAP For IT? Conflicting Standards Abound

Todd Neff | November 28, 2006

If compliance is from Mars, then IT security is from Venus. Take Sarbanes-Oxley compliance as an example. The law makes clear that a corporation’s financial information shall be secure, but it says nothing about exactly how a company is supposed to achieve security in the IT realm.

At the other, far more verbose end of the spectrum, companies have an abundance of IT standards that aim to translate Sarbanes-Oxley’s broad legal, accounting, and information-management requirements into pragmatic directives that IT professionals can use.

In fact, IT-security experts say there are too many standards and that none do the job well—among the many acronyms representing standardization efforts aiming to wed compliance and information security are COSO, COBIT, ITIL, ISO 17799, ISO 27002, NIST’s 800 Series, PCI, CISWIG, and GAISP.

Some say the world needs a new IT-security standard: a Generally Accepted Accounting Principles for... To get the full story, subscribe now.