Question

This framework was issued in 1996 (and updated in 2007) by the Information Systems Audit and Control Association (ISACA) because of the influence of IT over information systems, financial reporting and auditing.

a. true
b. false

Answer 1

The claim in the student's question is false; while ISACA issued the COBIT framework in 1996 and updated it in 2007, the Sarbanes-Oxley Act was passed by Congress in 2002 in response to corporate accounting scandals.

Step-by-step explanation:

The statement is false. The framework mentioned is likely referring to the Control Objectives for Information and related Technology (COBIT) framework, which was indeed issued by the Information Systems Audit and Control Association (ISACA). However, the Sarbanes-Oxley Act, mentioned in the context, was an act passed by U.S. Congress in 2002, not by ISACA. The Sarbanes-Oxley Act was a legislative response to major accounting scandals like those involving Enron and WorldCom and aimed to protect investors by improving the accuracy and reliability of corporate disclosures in financial statements and other financial information. The COBIT framework, separately, provides guidelines for IT governance and management and was first released in 1996, with a subsequent update in 2007 among others, to help organizations ensure their IT processes are aligned with business objectives, which in part can support compliance with regulations like Sarbanes-Oxley.