Overview – Trust Services Criteria
COSO’s CC6.3 for the component Logical And Physical Access Controls requires the following “The entity authorizes, modifies, or removes access to data, software, functions, and other protected information assets based on roles, responsibilities, or the system design and changes, giving consideration to the concepts of least privilege and segregation of duties, to meet the entity’s objectives. ”
Points of Focus
Below are the points of focus and any related mappings to other frameworks and standards.
| Description | Mapping to other frameworks and standards |
| Creates or Modifies Access to Protected Information Assets — Processes are in place to create or modify access to protected information assets based on authorization from the asset’s owner. | NIST CSF – PR.AC-4 – Access permissions and authorizations are managed, incorporating the principles of least privilege and separation of duties |
| Removes Access to Protected Information Assets — Processes are in place to remove access to protected information assets when an individual no longer requires access. | NIST CSF – PR.AC-4 – Access permissions and authorizations are managed, incorporating the principles of least privilege and separation of duties |
| Uses Role-Based Access Controls — Role-based access control is utilized to support segregation of incompatible functions. | · NIST CSF – PR.AC-4 – Access permissions and authorizations are managed, incorporating the principles of least privilege and separation of duties · NIST CSF – PR.AC-4 – Access permissions and authorizations are managed, incorporating the principles of least privilege and separation of duties |
What is the COSO Framework?
COSO means the Committee of Sponsoring Organizations of the Treadway Commission. It is a joint initiative of five private sector organizations and provides thought leadership through the development of frameworks and guidance on enterprise risk management, internal control, and fraud deterrence.
Source: https://us.aicpa.org/interestareas/businessindustryandgovernment/resources/riskmanagmentandinternalcontrol/coso-integrated-framework-project
The COSO Internal Control Framework was developed to help “organizations design and implement internal control in light of the many changes in business and operating environments.” The Treadway Commission designed the framework with SOX in mind, but the framework goes beyond financial reporting controls since it applies to operations, compliance, and reporting (both internal and external). For most public companies, the process of using the COSO Internal Control Framework is an exercise in mapping their SOX controls to the COSO Internal Control Framework and then evaluating the control environment in total against the framework.
The COSO Internal Control Framework is a comprehensive model comprising of the following five (5) integrated Components supported by seventeen (17) Principles. Below are the five (5) Components:
- Control Environment
- Risk Assessment
- Control Activities
- Information and Communication
- Monitoring
Source: https://www.auditboard.com/blog/difference-between-coso-and-sox/
Internal Control Categories
The COSO framework divides internal control objectives into three (3) categories: Operations, Reporting and Compliance.
- Operations objectives, such as performance goals and securing the organization’s assets against fraud, focus on the effectiveness and efficiency of your business operations.
- Reporting objectives, including both internal and external financial reporting as well as non-financial reporting, relate to transparency, timeliness and reliability of the organization’s reporting habits.
- Compliance objectives are internal control goals based around adhering to laws and regulations that the organization must comply with.
Source: https://www.i-sight.com/resources/coso-framework-what-it-is-and-how-to-use-it/