IKS, COBIT and COSO

Several governance standards require an internal control system (ICS) to ensure that an organization meets control and accounting requirements.

COSO is a Corporate Governance Standard that focuses on controls for financial processes.

CobiT is a framework that focuses on controls for IT processes and systems. CobiT is an open standard published by the IT Governance Institute and the Information Systems Audit and Control Association (ISACA). It's an IT control framework built in part upon the COSO framework.

The FAIT accounting principle states that German companies adopt appropriate controls and control systems to manage the risks in the IT-based financial reporting.

The PS 330 test standard specifies how auditors should assess the control systems of IT based financial reporting in Germany, to evaluate to what extent they meet the statutory requirements.