🎯COSO and Cloud Computing: 7 MCQs

A financial services company is adopting cloud computing and is implementing COSO Framework for governance.

Which component of the COSO Framework is primarily responsible for developing cloud governance policies, procedures, and structures?

A retail business is assessing potential risks related to cloud computing.

Which COSO Framework component is crucial in evaluating risks such as data breaches and service interruptions in cloud computing? 

An organization wants to ensure that its cloud service is available 99.9% of the time.

What specific KPI should the organization monitor?

A company is concerned about unauthorized data access incidents in the cloud environment.

Which KRI is most relevant for the company to monitor? 

A corporation is implementing additional security layers to safeguard its cloud services.

Which fraud deterrence measure focuses on requiring multiple forms of identification before granting access? 

An e-commerce company is evaluating its cloud services’ responsiveness to user requests.

Which KPI would be most relevant for the company to monitor the responsiveness of its cloud services? 

A healthcare provider is ensuring adherence to regulatory and organizational policies in its cloud environment.

What specific KPI should the healthcare provider monitor to ensure compliance with applicable regulations?