The aim of the current study is to evaluate and compare the IT governance maturity of Iran’s banking Industry and inform managers, who possess business knowledge and who may also be knowledgeable on the main aspects of COBIT, about the significant incremental risks this new technological advancement may expose the enterprise to if the proposals of possible controls are implemented by the prospective consumer enterprises to mitigate the incremental risks of cloud computing. To achieve this implications of IT governance framework and COBIT 4.1 were employed. Using data from 17 large publicly-owned and privately-owned banks. The results indicate that privately-owned banks have higher maturity rank in implementation of IT and business strategies compared to publicly-owned banks.