Discuss why a comprehensive system of best practice controls is an important asset for any organization.

What will be an ideal response?

A comprehensive system of best practice controls, which have been tailored to ensure compliance, is an important asset for any organization. That system will allow the organization to confirm that the routine activities that it undertakes to ensure compliance are operating as intended. The ultimate requirement is to demonstrate practical, real-world control. That is the reason why it is advisable to use a formal model of correct practice to guide the process. Common models of correct practice, such as the Information System Audit and Control Association's (ISACA) Control Objectives for IT (COBIT), exist in the public domain and can be used to do that.