Sarah Thompson, CPA and Glen Foxe, CPA attended a seminar about the implementation of COBIT 5 in London. The seminar is attended by senior executives from all major industries. The objective of the seminar is to discuss the advantages COBIT 5 brings to different industries and the challenges faced in the implementation of COBIT 5. Sarah Thompson, in her speech, pointed out that her industry has created greater value with the implementation of COBIT 5. However, Glen Foxe explained that though the COBIT 5 is a useful tool, it has created very less value in his industry as much as it has done for Sarah’s industry. Based on the information, which of the following is true?
COBIT 5 is used globally by those who have the primary responsibility for business processes and technology, depend on technology for relevant and reliable information and provide quality, reliability and control of information and related technology. An interdealer broker will be relying highly on cutting edge IT tools and business processes. A furniture manufacturing firm relies on manufacturing on manufacturing processes and less on business processes and information technology. Thus, a firm relying on IT can create more value than a company relying less on IT. In other words, COBIT 5 is used to govern and manage IT-related business risk.