Mobile Technology Risk Management

Abstract

Mobile technology is fast becoming an indispensable part of consumers’ lives and an essential business tool in improving productivity, streamlining business processes and remaining competitive. The mobile revolution is transforming business operations, but the pervasive nature of mobile technology also introduces new and significant risks into all areas of the businesses. In most businesses, however, the governance of mobile technology and its related risks is often disjointed and implemented in an ad hoc manner, resulting in all risks not being addressed. This lack of appropriate governance policies and procedures is a direct consequence of a lack of understanding of the technology and the speed at which new technologies are developed and adopted. If the risks are not addressed in a comprehensive manner, it could have severe consequences for a business. The objective of this research is to address this problem by using an appropriate control framework, Control Objectives for Information Technology (COBIT), to identify a comprehensive set of internal controls to address mobile technology risks at a governance, management and operational level. The research proposes a comprehensive set of internal controls which can be used by those charged with governance to manage each significant risk arising from the implementation of mobile technology.