International IT security managers' organisation (ISACA) have released COBIT 5, a free to download business governance framework. The open design customisable software has been created in order to meet the requirements of security, management and regulatory compliance.

ISCACA commented that the growth of Cloud computing can provide significant savings, but introduces new risks including the transferring of IT decision making progress from IT specialists to business leaders.

Derek Oliver, co-chair of the COBIT 5 Task Force, said: "Information is the currency of the 21st century and COBIT helps enterprises effectively govern and manage this critical asset."