The document provides an overview of cloud computing and introduces a guide and handbook for auditing cloud computing risks. It defines cloud computing, describes service models (IaaS, PaaS, SaaS), and identifies key risk areas for cloud computing including service provider risks, technical risks, external/overseas risks, management/oversight risks, and security/connectivity/privacy risks. It states the guide describes these risks and mitigation strategies, while the handbook provides audit-related questions to help IT auditors evaluate if an organization is properly managing risks and its cloud computing vendor. Next steps include members sharing audit questions from cloud computing audits to update the guide and handbook.