June 21, 2024
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IT General Controls Important for Compliance and Cybersecurity?

IT General Controls: Most companies, especially in the financial industry, have the option to outsource their IT services and controls. This decision to outsource is likely because of financial reasons, insufficient resources, and/or lack of trained staff.

ITGC controls can apply to an entire infrastructure of an organization. The common ITGC controls are logical access controls on applications, data controls, infrastructure controls, change management controls, and data backup/recovery controls.

The practice of implementing an ITGC controls offers value for to a corporation by identifying and understanding any risks that my present themselves.

Why do you think ITGC controls are important?

Companies are highly dependent on IT, and many have complex operational and financial IT systems. The ITGC controls have a huge impact on financial controls, effecting the:

  • Efficiency and effectiveness of the information management
  • Reliability of the information assets
  • Compliance with the applicable legal, business requirements, and regulatory
  • Automation of IT controls

ITGC controls can be applied to the IT systems like applications, databases, operating systems, and the general IT infrastructure. The goals of the ITGC controls are ensuring the integrity of data & processes that systems support. Common ITGCs include:

  • Change in management program controls
  • Datacenter security controls
  • Computer operation controls
  • Backup & recovery controls
  • System development controls

IT General Controls Matrix

ITGC Matrix defines various applicable controls and information that might be used for the implementation, assessment, and testing of various controls. This concept of ITGC controls is very important in organizations and companies.

With the help of the well-established controls, an organization will leverage several complex topics, like information and IT security, external and internal audits, risk management, IT compliance, IT governance management, and more.

The primary purposes are:

  • Offering guidance for implementation of the control policies and procedures
  • Defining control requirements and objectives
  • Asset classification & categorization information

Final Words

Implementing ITGC controls is a wonderful opportunity for companies to enhance their IT governance, which strengthens the corporate governance. It possible, companies should try to keep their IT services internal, rather than outsourcing. Regardless, implementation of the ITGC controls is one very important part in ensuring a good integration with the current IT governance.


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