Reference no: EM133378878

You are an internal auditor working for a large technology services company.  This company provides various information technology services to other organizations in areas such as network management, helpdesk operations, and systems development.  In the past year, your company has faced a number of concerning issues:

• There have been a number of embarrassing issues regarding public statements made by senior company executives on sensitive matters (e.g. politics, government policies, etc.) that have reflected on negative media coverage for the organization.
• The company has been unable to attract recent graduates in the field of business and technology.
• Turnover rate for current staff exceeds benchmarks for the industry.
• The company has embarked upon a number of major business transformation and restructuring initiatives that have exposed the company to instances of major control breakdowns, and frauds.
• Recent new policies implemented in the areas of procurement, financial reporting, and information security when audited by compliance by internal audit, resulted in numerous instances of non-compliance.
• New service offerings to customers failed to meet sales targets, and the company's market share has decreased significantly.

Required:

You see the value of using the 17 principles of the COSO ERM framework to identify opportunities to provide advice for better internal control and audit activity based on the issues noted above. Identify which of the 17 COSO principles  you see as relevant to address the issue noted above, and what advice would you provide management to address the issues noted above?