Annamarie Filippone

Q2. As we continue to learn about business processes and ERP systems we often discuss financial or account relate terms and concepts. How much finance and accounting knowledge should IT personnel supporting business applications know and learn? Explain.

I believe that IT personnel should have knowledge of basic financial/accounting principles,…[Read more]

Q1. As we’ve seen in the P2P and OTC processes many different often non-financial business functions are involved with ERP system transactions that post to accounting records. If you are responsible for Finance/Accounting controls for your company how would you manage the risks coming from these non-Financial function jobs?

If I am r…[Read more]

Q4. As consumers we encounter (knowingly and unknowingly) inventory controls all the time (e.g. locked jewelry cases). What are 1-2 less obvious inventory control measures used. Are these measures effective?

One inventory control measure that comes to mind is controlling the quantity of inventory on-site at any given time. Having too little of…[Read more]

Q3. Controls are important in all the OTC processes including shipping. What would be different in the controls of a purely domestic company vs. an international company? Give 1-2 specific examples.

Transporting goods internationally opens itself to increased risks that domestic shipping may not have. A company must ensure that any third party…[Read more]

Q2. Assume the “One Piece at a Time” video scenario could happen. If you are the operations manager responsible for the assembly line, what 1-2 key controls would you implement? Explain how the control addresses the risk.

The first control I would implement would be tracking components better by having them checked out by the employee res…[Read more]

Q1. Using the Fraud Triangle, analyze the “One Piece at a Time” video scenario and explain how the environment was favorable to Fraud.

The three necessary pieces of fraud – Pressure, Opportunity, and Rationalization – were all present in the scenario presented by “One Piece at a Time”.

The pressure comes from Johnny himself. He’s always…[Read more]

Q2. What are the advantages of VPN?

Some advantages of a Virtual Private Network include:

-Security: Data is encrypted and kept away from those who should not have access to it.
-Remote Control: Allows data to be accessed from wherever you are.
-Bypass Filters/Blocks: Can access blocked websites and bypass filters.
-File Sharing: Can be…[Read more]

Q1. What is OSI model? What’s the main function of each OSI layer?

The OSI model describes how data moves from one system to another and helps us understand how to build applications, protocols, and equipment that move data. The seven layers of this model include:

1. Physical: Defines the physical link, cabling, and binary transmission. M…[Read more]

Q4. What key (1-2) competencies do the person responsible in a company for the OTC need to have? Why?

I think an important competency for the person responsible for the OTC process is technical skill and understanding of the system that is utilized for this process. OTC has many steps, each with its own set of requirements and risks. By…[Read more]

Q3. Who in a company should be responsible for the controls of that company’s OTC process? Why?

The Chief Operating Officer and Chief Financial Officer are the individuals that should be responsible for the controls of the OTC process. The COO would be responsible for the controls within the non-accounting portion of the process, such as p…[Read more]

Q2. Which portion of the OTC process do they see as the most vulnerable to theft, fraud, or failure of some kind? Explain.

I believe the order entry portion within the OTC process is one of the steps most vulnerable to theft, fraud, or other failure. First there is the risk of human error, which is not intentional, but can still cause problems…[Read more]

Q1. As customers we experience various companies’ order to cash process (OTC) whenever we busy something. Which company do you believe has a ‘great’ OTC process? Why?

An OTC process that I recently observed and appreciated was with Starbucks, within their mobile application specifically. Once you create an account, you can store card infor…[Read more]

Q2. List common control issues associated with operating systems and remediations.

Some common risks associated with operating systems and their remediations include:
-Weak password policies. This can be strengthened by having certain requirements for passwords (character length, need of both upper and lowercase, etc.), as well as requiring it…[Read more]

Q1. Why is it so important to protect operating systems?

Operating systems are an important part of a working computer system. They interact with programs and applications, as well as input and output devices, and control the computer’s memory. Because it is what manages all software and hardware on the computer, it is crucial that it is p…[Read more]

Great point Sean. Open source software usage is only growing as time passes, and this presents new benefits and risks for organizations. Recent studies have shown that only a small percent of companies utilizing open source software have any sort of controls in place, such as selection procedures and management, to mitigate those risks. With…[Read more]

This is a great way to easily distinguish the differences between a traditional file system and RDBMS. This really highlights the benefits that can be gained from RDBMS, including data independence, increased accessibility, etc. Organizations should complete a similar comparison when attempting to decide the method of data storage that they want…[Read more]

I also agree that it is important that organizations take into account the disadvantages of DBMS so they are able to make informed decisions and are truly prepared once they choose to implement. In addition to the cost of the software itself, I would add that another cost can come from the need to hire additional personnel to manage the new…[Read more]

I agree that database management systems, while generally more secure than unstructured data, bring about a different set of risks. As you mentioned, DBMS are accessed from a variety of sources, which may not have the same security controls. This can potentially provide an easy entry-point for individuals who want to access to data and is a reason…[Read more]

Q3. List risks associated with database management systems.

Risks associated with database management systems include:
-Potential organizational conflict
-Target for hackers
-Required to be available at all times
-Misconfiguration

Q2. Key benefits of relational databases vs. traditional file system?

Key benefits of a relational database include the following:
-Data independence
-Reduced data redundancy
-Maximized data consistency
-Reduced maintenance costs (via data sharing)
-Increased security
-Enforced data integrity