Overview – Trust Services Criteria
COSO’s CC6.4 for the component Logical And Physical Access Controls requires the following “The entity restricts physical access to facilities and protected information assets (for example, data center facilities, back-up media storage, and other sensitive locations) to authorized personnel 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 |
| The entity restricts physical access to facilities and protected information assets (for example, data center facilities, back-up media storage, and other sensitive locations) to authorized personnel to meet the entity’s objectives. | NIST CSF – PR.AC-2 – Physical access to assets is managed and protected |
| Creates or Modifies Physical Access — Processes are in place to create or modify physical access to facilities such as data centers, office spaces, and work areas, based on authorization from the system’s asset owner. | NIST CSF – PR.AC-2 – Physical access to assets is managed and protected |
| Removes Physical Access — Processes are in place to remove access to physical resources when an individual no longer requires access. | NIST CSF – PR.AC-2 – Physical access to assets is managed and protected |
| Reviews Physical Access — Processes are in place to periodically review physical access to ensure consistency with job responsibilities. | NIST CSF – PR.AC-2 – Physical access to assets is managed and protected |
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/