Evaluating the Impact of Risk Management Frameworks on IT Audits: A Comparative Analysis of COSO, COBIT, ISO/IEC 27001, and NIST CSF

In today's digital landscape, information technology (IT) audits are critical for ensuring an in digital landscape nowadays. Frameworks related to risk management provide a systematic approach to identify and reduce IT risks. Control frameworks provide a defined method for analyzing internal controls and ensuring the effectiveness of IT audits. This study focuses on the impact and effectiveness of four major frameworks on IT audits: COSO, COBIT, ISO/IEC 27001, and NIST CSF. We investigate how each framework organizes the audit process, aids in control gap discovery, improves audit efficiency, and allows for unambiguous reporting. In addition, we explain factors to consider while picking the best framework for an organization's specific risk profile. The study conducts a thorough assessment of their strengths, shortcomings, and applicability for various IT audit scenarios.