...Governance, Risk and Compliance in Networking Today Strategies ITT Tech Abstract This paper explains how governance, risk and compliance making their way into networking. It shows how these three areas are being affected by how business in more of a global setting. Governance, Risk and Compliance in Networking Today Today’s businesses, especially when looking globally, it is becoming more important to keep up with risk and manage each countries regulatory requirements. This area is fairly new to the Information Technology world. Governance, risk and compliance are new processes and technology that allow these companies to greater manage their risk, accountability and decision making. In this new and growing field, Governance, risk and compliance (GRC), programmers are showing how much they can provide for companies. The problem lies in that even though GRC programmers and making steady advances, in terms of where businesses expectations are, there tend to be gaps. Understanding this is easier when each part is explained more. According to Enzer (2012), to break it down further, governance is the culture, policies, processes, laws, and institutions that define the structure by which companies are directed and managed, risk is the effect of uncertainty on business objectives; risk management is the coordinated activities to direct and control an organization to realize opportunities while managing negative events, and compliance is the act of adhering to, and demonstrating...
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...Insights on IT risk February 2010 Top privacy issues for 2010 Information serves as an integral part of most business processes. Organizations cannot survive without information and the supporting systems, third parties and manual activities that collect, derive, process, store and make available the information. Organizations rely on information and, therefore, are at risk when the information is degraded. In addition, information often imposes obligations to the organization, whether because a law or regulation requires it, or fiduciary duty demands it. Enterprise governance, risk and compliance (GRC) represents the actions that an organization takes to achieve its performance objectives and manage risk. This includes information risk and the organization’s obligations over the information it owns, produces, uses and makes available to others. Organizations use different kinds of information — financial, business, intellectual property, etc. — each with its own unique governance, risk and compliance considerations. Personal information is one such information category, and in this publication we take a closer look at the specifics of personal information and privacy risk. Insights on IT risk — February 2010 1 Introduction to privacy risk management and compliance This document introduces the related topics of privacy risk management and compliance, describes how they must be addressed integrally to be effectively managed, discusses how effective management...
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...of Malaysians on the internet access Facebook Once online, Malaysian’s Top 3 activities 1. social networking sites 2. instant messaging 3. reading local news Source: The Nielsen Company (April 2011) Copyright © 2013 CyberSecurity Malaysia 3 HIGH LEVEL USAGE = HIGH RISK Copyright © 2013 CyberSecurity Malaysia 4 HIGH LEVEL USAGE = HIGH RISK Cyber Security Incidents (1997-2013) Reported to Cyber999 Help Centre 16,000 15,218 Type of incidents: 14,000 • • • • • • • • 12,000 10,000 8,000 As at 31st August 2013 Fraud and scams Intrusion and web defacement Destruction Denial-of-Service Virus / Malware Harassment Content-related Intrusion attempts 9,986 7753 8,090 6,000 3,566 4,000 2,123 2,000 81 196 1997 1998 527 347 1999 2000 860 625 2001 2002 1,372 912 915 754 2003 2004 2005 1,038 2006 2007 2008 2009 2010 Number of cyber security incidents referred to CyberSecurity Malaysia (excluding spams) Copyright © 2013 CyberSecurity Malaysia 2011 2012 2013 HIGH LEVEL USAGE = HIGH RISK 1.6 RM The cybercrime situation in Malaysia Billion lost to scams in...
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...THE UNIVERSITY OF BURDWAN DIRECTORATE OF DISTANCE EDUCATION TERM PAPER ON CORPORATE GOVERNANCE PRACTISE BY DIFFERENT COMPANIES OF INDIA AND OTHER COUNTRIES. COURSE: MASTERS IN BUSINESS ADMINISTRATION PAPER: BUSINESS LAWS AND CORPORATE GOVERNANCE. PAPER CODE: MBD 107. SEMESTAR: 1ST SUBMITTED BY SOUMYA KANTI BOSE ENROLLMENT NO: DDE/MBA/JUL2013/14. REGISTRATION NO: APPLIED FOR. SESSION: JULY 2013 - JUNE 2015. INDEX PARTICULARS | PAGE NO | Introduction | 03 | Objectives of Study | 03 | World Scenario in Corporate Governance | 03 | Indian Scenario in Corporate Governance | 03-04 | Corporate Governance Practices By State Bank of India, India | 04-05 | Corporate Governance Practices By Axis Bank Ltd, India | 05-13 | Corporate Governance Practices by National Australia Bank, NAB | 13-18 | Corporate Governance By HSBC, London | 19-23 | Conclusion | 23 | Reference | 23 | Introduction: The issue of corporate governance has come up mainly in the wake up economic reforms characterized by liberalization and deregulation. Corporate governance has at its backbone a set of transparent relationships between an institution’s management its board, shareholders and other stakeholders. Corporate governance has come up mainly in the wake up of economic reforms characterized by liberalization and deregulation. According to OECD, the corporate governance structure specifies the distribution of rights and responsibilities among different participants in the corporation...
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...Technical Controls Paper A.M SE578 Gordon Francois Keller Graduate School of Management January 22, 2012 Technical Controls Technical controls use technology as a basis for controlling the access and usage of sensitive data throughout a physical structure and over a network. Technical controls are far-reaching in scope and encompass such technologies as: * Encryption * Smart cards * Network authentication * Access control lists (ACLs) * File integrity auditing software Logical controls (also called technical controls) use software and data to monitor and control access to information and computing systems. For example: passwords, network and host based firewalls, network intrusion detection systems, access control lists, and data encryption are logical controls. An important logical control that is frequently overlooked is the principle of least privilege. The principle of least privilege requires that an individual, program or system process is not granted any more access privileges than are necessary to perform the task. A blatant example of the failure to adhere to the principle of least privilege is logging into Windows as user Administrator to read Email and surf the Web. Violations of this principle can also occur when an individual collects additional access privileges over time. This happens when employees' job duties change, or they are promoted to a new position, or they transfer to another department. The access privileges required...
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.........................................3 What can a firm do to bolster confidence in their defense-in-depth strategy?..........................................4 How do these activities relate to best practices? ……………………………………………………………………………………4 How can these activities be used to demonstrate regulatory compliance? …………………………….………………5 References …................................................................................................................................................6 How could administrative, technical, and physical controls introduce a false sense of security? Administrative, Technical, and Physical controls introduce a false sense of security by the indication of what we use to safeguard delicate data and protect individuals’ privacy. Any complex system is prone to inherit a false sense of security. Having a false sense of security is widespread among individuals who own and operate a personal computer within their homes. Nothing is ever really secured. It would be safe to say that something is secured within the terms of information security. [ (Nahn, 2008) ] The idea of purchasing a virus protection suggests that all personal information will be safeguarded and protected, which gives individuals a false sense of security. Additionally, having a false sense of security means that there is a presumed belief that there is a guaranteed protection at all times and, that there should not be concerns about the computer being compromised because the...
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...Riordan Manufacturing Final Paper BSA/502 Riordan Manufacturing As an information technology consulting team working for Riordan Manufacturing, Team C will review, assess and make recommendations for improvements to the company’s business infrastructure. These recommendations will include software in the following business areas: human resources, operations, and logistics, legal, and finally, sales, and Marketing. Riordan Manufacturing Inc. like most companies can benefit from process improvements and the implementation of software solutions to improve its human resources, operations and logistics, and legal processes. Human Resources Focus According to Nickels, McHugh, and McHugh (2010), attracting and keeping the best employees is one of the fundamental goals of human resources management. People are the most valuable resource in any organization because their knowledge and creativity translate to products and services that business models depend on. Riordan Manufacturing Inc. faces some challenges with human resources management and is in need of some solutions. Existing Human Resource Management Systems (HRMS) in Riordan manufacturing Inc. * Employee Database * Payroll System * Training and Development System * Recruitment and Selection system * Hiring System * Compensation System * Compliance System * Performance management system Recommended Human Resources Management Systems (HRMS) Oracle HRMS Oracle HRMS is part of Oracle’s...
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...which aims to analyze the role of information technology (IT) in the Indian banking industry. Indian banks are investing heavily in the technologies such as automated teller machine (ATMs), net banking, mobile banking, tele -banking, credit cards, debit cards, smart cards, call centers, CRM, data warehousing etc. It is essential to evaluate the impact of information technology on the performance of Indian banks in terms of extended value added services and customer satisfaction thereby. Foreign banks and Private sector banks which took more IT initiative, were found to be more efficient and more competent force than public sector banks in India. Based on the article, technological innovations have enabled the industry to open up efficient delivery channels. It is said that IT has helped the banking industry to deal with the challenges the new economy poses. The study examines the views of banking customers on the implementation of IT in banks. According to the author, private and foreign banks use more IT-related banking services than public sector banks. Keywords and Abbreviations: Awareness level, Banking sector, Customer Satisfaction, ITeS, Security ATM – Automated Teller Machines / Any Time Money CBS – Core Banking Solution IAM – Investment and Assets Management CRM – Customer Relationship Management GRC – Governance Risk and Compliance IDRBT - Institute for Development and Research in Banking Technology INFINET - Indian FInancial NETwork...
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...Introduction Technology plays a vital role in continuous auditing activities. As an automatic method, continuous auditing’s responsibility is to perform auditing activities more frequently which including control and risk assessments. With the aim of helping to automate the identification of anomalies or exceptions, analyze models, test controls and review trends, “Continuous” in this aspect of continuous reporting and auditing serves as the financial information’s real-time ability to be shared and checked. Continuous auditing presents that the financial information’s integrity can be evaluated at any given-point-time; as a result, financial information’s inefficient, frauds and errors could able to be verified constantly. In the other hand, we could consider continuous auditing as a very detailed audit. 1 Historical development of continuous auditing As a kind of audit method, it theoretical sources is from the traditional auditing method. The traditional auditing theory is the basis of analyzing the continuous auditing. Most of the auditing is a format of statutory audit, but not all the auditing is required by the statutory from the beginning. Under the freedom of market environment, we should strengthen research on audit risk, explore ways of audit risk management and control, continue to improve audit quality, and reduce audit risk. “In fact, the concept of “continuous auditing” has been around since the late 1980s. But the urgency that Sarbanes-Oxley has brought...
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...Title: Wal-Mart’s Purchasing Process To: Dr. Franklin Mitchell From: Mark Bieker Class: Class: AC 550 Accounting Information Systems Date: October 10, 2011 Introduction Wal-Mart was founded by Sam Walton in 1962 with the first Wal-Mart discount store opening in Rogers, Arkansas. The company was officially incorporated as Wal-Mart Stores Inc. on October 31, 1969. Currently, Wal-Mart has stores in 50 states in America and 15 countries worldwide, including Argentina, Brazil, Canada, Chile, Costa Rica, El Salvador, Guatemala, Honduras, India, Japan, Mexico, Nicaragua, Puerto Rico, and the United Kingdom. The growth of Wal-Mart over a period of 49 years is remarkable and has lead Wal-Mart to become the biggest retailer in the world. Wal-Mart also has a strong community presence in the areas the stores are located. Wal-Mart’s purpose is to save people money and to help them live better. In 2007, Wal-Mart changed its slogan from “Always low prices” to “Save money. Live better.” This slogan is demonstrated in the products that Wal-Mart sells. Wal-Mart will not be undersold. Wal-Mart caters to the low income and middle income people by offering goods at low prices. These low prices are demonstrated in the products Wal-Mart sells. The products include: food, drink, clothing, jewelry, electronics, automobile supplies, sporting goods, toys, and furniture. Basically, Wal-Mart offers customers a one stop shopping experience. In order to provide this variety of...
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...Wataka Accounting Information Systems Information Security Management within ERP Systems Research Paper Introduction This paper will discuss research on Information Security Management (ISM) within Enterprise Resource Planning (ERP) Systems since information security continues to be a hot topic in the business world. The major focus of the paper will be threefold: an analysis of the ERP systems in the present day, a relation of these systems to the accounting and auditing world, and finally, the future of the technology, given its vast impact in the business world. Notable ERP Systems Research Key research pertinent to this paper includes the works of Grabski et al. (2011) who discuss various issues relating to the security environment, as regards the ERP systems. They talk about the risk associated with ERP systems implementation and define it as a “problem that has not occurred but has the potential to cause loss” (Grabski et al. 2011, p. 55). They mention that there is a need for ERP audit techniques, such as embedded audit modules, to control security risks (2011, p.55). This paper will utilize their research work to analyze auditing in an ERP environment by examining security risks and internal controls after ERP implementation. Additionally, Hunton et al. (2004) try to address the issue of risk associated with ERP systems, in the context of auditing (p.1-23). Hunton et al. (2004) analyze how financial auditors compare ERP systems related risks to non-ERP systems...
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...sponsored webinar sponsored webinar KRIs best practice Collecting, aggregating and managing Operational Risk & Regulation convened a panel, sponsored by MetricStream, to discuss the benefits of using key risk indicators, as well as how operational risk managers should select the right ones and effectively manage their quantitative and qualitative analysis What makes a good key risk indicator (KRI)? Marcelo Cruz, The Journal of Operational Risk: According to Basel, there are four mandatory inputs for operational risk measurement: internal loss data; external loss data; scenario analysis; and business environment and internal control factors (BEICFs). KRIs fall into this fourth category. A lot has been done in terms of including internal and external data and scenario analysis management in the measurement framework, but not much has been done around the KRIs. I believe this is a big gap in operational risk on both the management and risk management sides. KRIs are metrics that measures how good your control environment is and how stressed it can be. For example, if you work in a heavy processing control environment, the volume of trades or the volume of credit card processing each day should be an important indicator of the quality of your operation, or how many fails you have in processing trades, how many people work in a certain department or how many amendments operation officers need to make in trades to make them OK to settle. These indicators – whether you call...
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...RISK MANAGEMENT THE NIGERIAN BANKING SECTOR FOR ABI ALCHEMY BUSINESS INTELLIGENCE BY OYINDAMOLA OMOSEBI CONSULTANT ALCHEMY BUSINESS INTELLIGENCE 5TH MAY 2012 Table of Content 1.0 Overview of Risk Management 1.1 Principle of Risk Management 1.2 The Risk Management Process 1.2.1 Risk Identification 1.2.2 Risk Assessment/Measurement 1.2.3 Risk Mitigation 1.3 Risk Management Plan 1.3.1 Implementation 1.3.2 Review and Evaluation of Plan 2.0 A Review of Risks in Banking 2.1 Overview of Risk Management Practices in Nigerian Banks 2.1.1 Reputational Risk and Confidence Crisis in the Nigerian Banking Industry 2.1.2 Operational Risk 2.1.3 Credit Risk 2.1.4 Human Resources Risk 2.1.5 Risk Associated with Mergers and Acquisition 2.2 Current Regulatory and the Way Forward 3.0 Summary and Conclusion 1.0 Overview of Risk Management There is risk in every business because of uncertainty about future events and exposure, almost everything we do in the business world involves risk. This is the probability that organization or an individual will be unable to meet some expectations set for itself during a given period or could incur a financial loss because of some known or unknown threats or events outside his immediate control. Therefore, Risk Management is the identification, assessment, and prioritization of these risks followed by coordinated and effective application of resources to minimize, monitor, and control the probability and/or impact...
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...focused on organizations located in the United States, many are multinational corporations. For the first time, Ponemon Institute conducted cyber crime cost studies for companies in the United Kingdom, Germany, Australia and Japan. The findings from this research are presented in separate reports. Cyber attacks generally refer to criminal activity conducted via the Internet. These attacks can include stealing an organization’s intellectual property, confiscating online bank accounts, creating and distributing viruses on other computers, posting confidential business information on the Internet and disrupting a country’s critical national infrastructure. Consistent with the previous two studies, the loss or misuse of information is the most significant consequence of a cyber attack. Based on these findings, organizations need to be more vigilant in protecting their most sensitive and confidential information. Key takeaways from this research include: Cyber crimes continue to be costly. We found that the average annualized cost of cyber crime for 56 organizations in our study is $8.9 million per year, with a range of $1.4 million to $46 million. In 2011, the average annualized cost was $8.4 million. This represents an...
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...• Tackling the key issues in banking and capital markets Phil Rivett Global Leader, Banking & Capital Markets, UK Tel: 44 20 7212 4686 Email: phil.g.rivett@uk.pwc.com 3 Welcome to the August 2005 edition of the PricewaterhouseCoopers banking and capital markets journal. This is the 7th edition of the journal and brings together a rich selection of topics from our industry experts. Central banks are increasingly coming under the spotlight as they face a number of changes and challenges. In ‘New Challenges for Central Banks’, Chris Sermon, Peter Trout and Elizaveta Filipova highlight some of the new and existing opportunities facing the central banking sector in the areas of accounting, reporting, transparency, corporate governance and risk management and explore the importance of evolving practices and developments. Trust and integrity are fundamental to the financial sector, no more so than now following recent corporate transgressions. In ‘Corporate Integrity: A Foundation for re-building reputation’, Phil Case, Allan Goldstein and John Queenan address how the banking sector has responded to this and outlines the need for action to repair the damage to stakeholders’ confidence and banks’ reputation. Competition, consolidation and regulation are just a few of the issues tackled in ‘The Battleground for consumer banking’. Steve Davies,...
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