...Structure Based on Management Activity | 6 | Structure Based on Organizational Functions | 12 | Applications Based on MIS | 18 | References | 20 | Introduction Management information system broadly refers to a computer-based system that provides managers with the tools to organize, evaluate and efficiently manage departments within an organization. MIS, or Management Information Systems, are used to manage the data created within the structure of a particular business. These systems store the data and allow the business to manipulate this data. It is the study of people, technology, organizations and the relationship among them. MIS can be defined as the study of how individuals, groups and organizations evaluate, design, implement, manage and utilize systems to generate information to improve efficiency and effectiveness of decision making. The concept of MIS gives high regard to the individual and his ability to use information. While analyzing the data, it relies on many academic disciplines. These include the theories, principles and concepts from the Management Science, Psychology and Human Behavior, making the MID more effective and useful. These academic disciplines are used in designing the MIS, evolving the decision support tools for modeling and decision - making. The concept, therefore, is a blend of principle, theories and practices of the Management, Information and System giving rise to single product known as Management Information System (MIS). ...
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...Management Information System Topics: » Definition of Management Information System » Purpose of Management Information System » Advantages of Management Information System » Objectives of Management Information System » Characteristics Management Information System » Models/ types of Management Information Systems » Management Information System Planning, Controlling and Limitations Definition of Management Information System Management Information System can be defined as a formal method of collecting timely information in a presentable form. in order to facilitate effective decision making and implementation, in order to carry out organizational operations for the purpose of achieving the organizational goal. A management information system is a system design to provide selected decision –orientation information needed by management plan, control and evaluate the activities of the corporation. It is designed within the frame work that emphasizes profit, planning, performance planning and control at all levels. It complements the ultimate integration of required business information sub system both financial with in the company. According to Philip kolter- A marketing information system consist of people, equipment and procedures together,sort,analyse,evaluate and distribute the needed timely and accurate information and marketing decision makers. Professor Allen S. Lee states that research in the information system field examines more than the technological...
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...INTRODUCTION 0.1 WHAT IS INFORMATION SECURITY? 0.2 WHY INFORMATION SECURITY IS NEEDED? 0.3 HOW TO ESTABLISH SECURITY REQUIREMENTS 0.4 ASSESSING SECURITY RISKS 0.5 SELECTING CONTROLS 0.6 INFORMATION SECURITY STARTING POINT Information security is defined as the preservation of confidentiality, integrity and availability of information … Information security is defined as the preservation of confidentiality, integrity and availability of information … 0.7 CRITICAL SUCCESS FACTORS 0.8 DEVELOPING YOUR OWN GUIDELINES 1 SCOPE 2 TERMS AND DEFINITIONS 3 STRUCTURE OF THIS STANDARD 3.1 CLAUSES Security controls directly address risks to the organization, therefore risk analysis is a starting point for designing controls. Security controls directly address risks to the organization, therefore risk analysis is a starting point for designing controls. 3.2 MAIN SECURITY CATEGORIES 4 RISK ASSESSMENT AND TREATMENT 4.1 ASSESSING SECURITY RISKS Information security policies, standards, procedures and guidelines drive risk management, security and control requirements throughout the organization Information security policies, standards, procedures and guidelines drive risk management, security and control requirements throughout the organization 4.2 TREATING SECURITY RISKS 5 SECURITY POLICY 5.1 INFORMATION SECURITY POLICY 5.1.1 Information security policy document 5.1.2 Review of the information security policy 6 ORGANIZATION OF INFORMATION SECURITY Defines...
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...ENISA: Risk Management and Isms activities An information security management system[1] (ISMS) is a set of policies concerned with information security management or IT related risks. The idioms arose primarily out of BS 7799. The governing principle behind an ISMS is that an organization should design, implement and maintain a coherent set of policies, processes and systems to manage risks to its information assets, thus ensuring acceptable levels of information security risk. Contents * 1 ISMS description * 2 Need for an ISMS * 3 Critical success factors for ISMS * 4 Dynamic issues in ISMS * 5 See also * 6 Notes and references ISMS description As with all management processes, an ISMS must remain effective and efficient in the long term, adapting to changes in the internal organization and external environment. ISO/IEC 27001:2005 therefore incorporated the "Plan-Do-Check-Act" (PDCA), or Deming cycle, approach: * The Plan phase is about designing the ISMS, assessing information security risks and selecting appropriate controls. * The Do phase involves implementing and operating the controls. * The Check phase objective is to review and evaluate the performance (efficiency and effectiveness) of the ISMS. * In the Act phase, changes are made where necessary to bring the ISMS back to peak performance. ISO/IEC 27001:2005 is a risk based information security standard, which means that organizations need to have a risk management process in...
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...Dustin Cooper 9/30/13 Regent University Introduction Information systems have permeated every aspect of today’s society. Information systems allow organizations and people to carry out everyday activities in a much more efficient way. However, due to the increased dependence on information systems, it has become imperative that methodologies and practices are developed to safeguard the data that is stored and used by information systems, as well as the protection of the hardware that runs the information system. Therefore, a proper understanding of risk management and all that it entails is of the utmost importance for every IT professional, regardless of specialization. The purpose of this paper is to identify what risk management is and give an overview of the three phases or undertakings that make up the risk management process and then conclude with a discussion and explanation of the six-step Risk Management Framework (RMF) developed by the Department of Defense and the National Institute of Standards and Technology (NIST) (National Institute of Standards and Technology, 2010). “Risk management is the process of Identifying risks, as represented by vulnerabilities, to an organization’s information assets and infrastructure, and taking steps to reduce this risk to an acceptable level” (Michael E. Whitman, Herbert J. Mattord, 2012, p. 119.). Thus, risk management is merely the ability of a person or organization to implement due diligence and identify any potential...
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...MANAGING INFORMATION – CRITICAL EVALUATION OF RELEVANT ISSUES MODULE: MANAGING INFORMATION Table of Contents Sr. no. Contents Page no. 1. Introduction............................................................................................3 2. Definition of Information Systems...........................................................3 3. Information System as an Organizational and Management Solution.........3 4. Information Manager and Information System..........................................4 5. Environmental and Industrial Analysis.....................................................4 6. Recommended Information Systems for a Medium Sized Accountancy and Management Consultancy Firm........................................................5 6.1. Management Information System.............................................................5 6.2. Decision Support System..........................................................................6 6.3. Knowledge Management System..............................................................6 6.4. Transaction Support System.....................................................................6 6. Evaluation of Organizational, Technical and Management Aspects of the Information Systems Used.................................
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...Applying Risk Management Consulting Ricardo Jackson CMGT/430 April 28, 2015 Dr. Leandro Worrell Applying Risk Management Consulting According to (Whitman & Mattord, 2010) Risk Management is the process of discovering and assessing the risks to an organization’s operations and determining how those risks can be controlled or mitigated. Risk management tackles part of a law-abiding control program that organizations implement to monitor the business and make informed decisions. Most corporate leadership takes on this task while bridging together other departments within the organization requirements. While governance programs differ broadly, all programs require a well-thought-out security risk management component to arrange and mitigate security risks. The management of information systems relies heavily on risk management therefore certain fundamentals must be applied within an organization risk management plan. These principles include identification, assessment, and decision support/implementation control. Identification The risk identification process begins with the identification of information assets, including people, procedures, data, software, hardware, and networking elements. Risk Assessment Identify and prioritize risks to the business Assess Control. Assessing the relative risk for each vulnerability is accomplished via a process called risk assessment. Risk assessment assigns a risk rating or score to each specific vulnerability. This enables...
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...IT [pic] Australian Government Department of Defence Information System Audit Guide VERSION 11.1 January 2012 Table of Contents 1. Introduction to Accreditation 4 2. The Information System Audit – Checklist 7 2.1. What is an Information System Audit? 7 2.2. Why is an Information System Certification needed? 7 2.3. Assessing an Information System’s Security Risks 7 2.4. Selecting an Information System’s Security Controls 7 3. Purpose of the Checklist 8 4. How to Use the Checklist 8 4.1. The Checklist Structure 8 4.2. Security Objectives 9 4.3. Guidance for IRAP Assessors 9 4.4. Information System Compliance 10 5. Guidance for IRAP Assessors 10 6. The Checklist 11 6.1. The Information Security Policy & Risk Management 11 6.2. Information Security Organisation 14 6.3. Information Security Documentation 17 6.4. Information Security Monitoring 20 6.5. Cyber Security Incidents 22 6.6. Physical & Environmental Security 24 6.7. Personnel Security for Information Systems 26 6.8. Product & Media Security 27 6.9. Software, Network & Cryptographic Security 30 6.10. Access Control & Working Off-site Security 33 Appendix A – Accreditation Governance 36 The ISM & Certification 36 Compliance Levels 37 Compliance Report 37 Compliance Comments 37 Audit Documentation Submissions 38 Appendix B – Standards 39 ...
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... 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 can lead an organization to increased...
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...United States Government Accountability Office GAO February 2009 GAO-09-232G FEDERAL INFORMATION SYSTEM CONTROLS AUDIT MANUAL (FISCAM) This is a work of the U.S. government and is not subject to copyright protection in the United States. The published product may be reproduced and distributed in its entirety without further permission from GAO. However, because this work may contain copyrighted images or other material, permission from the copyright holder may be necessary if you wish to reproduce this material separately. United States Government Accountability Office Washington, DC 20548 February 2009 TO AUDIT OFFICIALS, CIOS, AND OTHERS INTERESTED IN FEDERAL AND OTHER GOVERNMENTAL INFORMATION SYSTEM CONTROLS AUDITING AND REPORTING This letter transmits the revised Government Accountability Office (GAO) Federal Information System Controls Audit Manual (FISCAM). The FISCAM presents a methodology for performing information system (IS) control 1 audits of federal and other governmental entities in accordance with professional standards, and was originally issued in January 1999. We have updated the FISCAM for significant changes affecting IS audits. This revised FISCAM reflects consideration of public comments received from professional accounting and auditing organizations, independent public accounting firms, state and local audit organizations, and interested individuals on the FISCAM Exposure Draft issued on July 31, 2008 (GAO-08-1029G)...
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...Guide to Internal Control and Internal Control Services Members in government, both mangers and auditors, must understand the concepts of internal control and independence and the effect they have on the CPA practitioners that the government hires for both its financial statement audits and for other nonaudit engagements related to internal control services. As auditing standards have evolved, the auditors may no longer default to a maximum control risk but now should obtain a sufficient understanding of internal control by performing risk assessment procedures to evaluate the design of controls relevant to an audit of financial statements and to determine whether they have been implemented.1 This may result in the auditor spending additional time. Additionally, internal control deficiencies identified by an auditor that upon evaluation are considered significant deficiencies or material weaknesses should be communicated in writing to management and those charged with governance.2 This standard also has led to a great deal of discussion about what is or is not a control and what role an auditor can play, with respect to the client’s system of internal control. Even if a CPA practitioner does not perform audits but performs reviews and compilations, it is important that he or she understand internal control because of the possible independence ramifications. A CPA practitioner’s independence would be impaired if he or she establishes or maintains internal control for a client.3 This...
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...STUDY 2 MODULE II 1. Biltrite’s strengths and weaknesses in the internal control Assertion Sale Processing Flowchart: Weakness A. The office was uninformed about the credit approval - Valuation B. Missing customer information and product validation - Valuation C. Invoices were mailed before shipping the goods - Existence And does not matched with bill of lading D. Bill of ladings are not pre numbered - Completeness Strength Good internal control for receivables aging analysis and Follow up of delinquent accounts. Cash Receipts Processing Flowchart: Weakness E. Unrestricted customer check endorsement - Valuation F. Unable to edit and apply discounts and correct net amount - Valuation Purchases and Accounts Payable: Weakness G. Need approval for the prepared voucher for proper -Valuation Account distribution Strengths H. Verifies details on goods received with the receiving report I. Matching control tape with purchase summary for the processed invoices Payment Processing Flowchart: Strengths J. Matching the checks with the documents, amount and remittance details K. Checks are reviewed before signing for approval. L. Cancelled checks/documents to avoid duplication. M. Mailed check directly to vendors after signing the checks. Biltrite’s strengths and weaknesses in the internal control Assertion Payroll Processing Flowchart: Weakness N. Supervisor approves...
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...policy of Fay Servicing, LLC (“Fay”) to define the risk management requirements to protect the confidentiality, integrity and availability of its Information Resources. To accomplish this task, a formal Information Security Risk Management Program has been established as a component of the Organization's overall risk management policy and is an integral part of Fay’s Information Security Program to ensure that Fay is operating with an acceptable level of risk. The Information Security Risk Management Program is described in this Policy. 2. Overview Risk Management is the continuous process which allows Fay’s business owners to balance the operational and economic costs of protective measures while achieving gains in mission capability,...
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...Chapter 1 Introduction to the Management of Information Security Chapter Overview The opening chapter establishes the foundation for understanding the field of Information Security. This is accomplished by explaining the importance of information technology and defining who is responsible for protecting an organization’s information assets. In this chapter the student will come to know and understand the definition and key characteristics of information security as well as the come to recognize the characteristics that differentiate information security management from general management. Chapter Objectives When you complete this chapter, you will be able to: • Recognize the importance of information technology and understand who is responsible for protecting an organization’s information assets • Know and understand the definition and key characteristics of information security • Know and understand the definition and key characteristics of leadership and management • Recognize the characteristics that differentiate information security management from general management INTRODUCTION Information technology is the vehicle that stores and transports information—a company’s most valuable resource—from one business unit to another. But what happens if the vehicle breaks down, even for a little while? As businesses have become more fluid, the concept of computer security has been replaced by the concept of information security. Because this new...
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..."strategic management accounting" has been coined by Simmonds and since then strategic management accounting has become a hot topic. Instead of a backward focus, strategic management accounting provides a long-term sight for organisations focus on the future. Gradually, the importance of the strategy implementation and strategic control systems has been realized and in fact there are numbers of mechanisms that have been designed to ensure entities are organized under the strategic management. For example, management accounting framework, the aim of which is to "capture the dynamics of the relationship between that strategy and control" (Eldenburg, Brooks, Oliver, Vesty, & Wolcott, 2010). These frameworks that are used for strategy and control, help management accounting collect more relevant information for decision makers. This essay will discuss the use of Ferreira and Otley’s performance management systems framework and Kaplan and Norton’s strategy map framework which is structured into two segments. The first with the concept of strategy and control and with the description of the relationship between strategy and control itself. The second, is the analysis of the influence of the two management accounting frameworks for decision making. From this essay, it is easy to find out how these frameworks strengthen the role of strategy and control and increase the quality of decision making by management accounting provide better information. To use these management accounting...
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