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CobIT is a mature framework, first released in 1996 by the Information Systems Audit and Control Association (ISACA).
It has evolved since then, with a second edition appearing in 1998, a third in 2000, and most recently a fourth edition. The main published of CobIT also changed, and is now ITGI (the IT Governance Institute).
What is CobIT?
CobIT is a framework for information IT management risks, or more formally, a "framework and supporting toolset that allows managers to bridge the gap between control requirements, technical issues and business risks" (ref: ISACA).
It comprises six documents: (1) Management Guidelines; (2) Implementation ToolSet; (3) Executive Summary; (4) Framework; (5) Control Objectives; (6) Audit Guidelines.
Although it has existed for a long time, CobIT's global presense has not expanded as quickly as many might expect, especially as it is fundamentally a free publication. Possibly, this may be related to ISACA's approach to market forces and third parties.
It is undeniable, however, that the Sarbanes-Oxley Act has given the framework a substantial lift in popularity, as it is the favored approach by many auditors. Whether this growth is sustained remains to be seen.
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