COSO Examines Cloud Computing Risks (Journal of Accountancy)

New report advises on how to mitigate risk while using new technology.

The Committee of Sponsoring Organizations of the Treadway Commission released a report last week that provides guidelines for assessing and managing risk from cloud computing.

The paper, written by three consultants from accounting  firm Crowe Horwath, says companies should think about how to control the risks involved in cloud computing before they enter into a contract with a provider. Companies should include queries about controls in requests for proposals and try to get a right-to-audit clause in contracts, the report says.

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