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Fangzhou Hou posted a new activity comment 7 years, 10 months ago
Hi Pat,
Could you also list some sample essay questions which related the coding? And what’s the requirement of those coding questions?
Thanks.
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Fangzhou Hou posted a new activity comment 7 years, 11 months ago
I totally agree with you Yu-Ming. Indeed, some companies do not have the blueprints as documentation, but it still very important in the business processes. Without a clear blueprint to help the organization better positioning and developing, the decision maker may make mistakes in the strategic level. Moreover, the blueprint can effectively guild…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 11 months ago
4. In future weeks we may have the privilege of having real world auditors join us for our discussions. What questions would you like to ask the Auditors to answer for us?
– What’s the biggest challenge for the entry level IT auditors?
– What’s the common issues that auditors may have in the real business?
– What’s the suggestions you may h…[Read more] -
Fangzhou Hou posted a new activity comment 7 years, 11 months ago
2. How have you seen change management work in your organization? What improvement recommendations do you have?
From my previous work experience, the organization had effective change management especially in the online customer service system. I previously worked in the customer relationship department for couple months, and the customer…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 11 months ago
1. What are the key components of SAP change management controls you would expect the auditor to review? Why?
Generally, I would expect the auditor to review the changes and updates of the SAP systems. First of all, the changes in the SAP system should be reviewed. The team that reviews SAP change management requests is typically the senior…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 11 months ago
Totally agree. The accuracy of data is extremely important for an organization, especially those major published companies. Since the financial statements and other evaluation information like the Form 10-K are required to be disclosed, if the data is inaccurate, the investors and shareholders may misread the company’s performance and make wrong d…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 11 months ago
Exactly, I agree with you Yu-Ming that the inaccurate data is danger for publicly traded organization. From the publicly traded organization’s perspective, the financial statements and the Form-10K are required to be disclosed to the investors, and if the data within the financial statements are inaccurate, or even exist huge gap comparing with t…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 11 months ago
2. Which department or person should play the key role in defining master data and assuring it’s quality?
To defining master data and assuring it’s quality, the Program Manager and Project Leader, Organization Change Agent, Business Analyst and Data Analyst would be involved. The Program Manager and Project Leader are responsible for ove…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 11 months ago
1. Master data in an ERP system is highly integrated with various processes and effects many parts of the organization. How does an organization assure this integration works well for all?
The master data is valuable information assets for an organization, usually it includes the core data list below like business partner master data; Item base…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 11 months ago
I read the article “45% of Consumers Have Been a Victim of Cybercrime”. A research found that one in six of the consumers have lost funds due to online fraud, with 20% losing in excess of $1,298. In addition, 21% of the victims experienced dissatisfaction with the brand involved. This impact on brand reputation was reflected in the fact that whe…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 11 months ago
Good examples Yulun. Segregation is very important to prevent the potential fraud and error especially in financial and accounting processes. From my previous experience, the accounting department usually has one staff in gathering the invoice, and entering data into the accounting information systems. One the other will double check the journal…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 11 months ago
Exactly Yu-Ming, I totally agree with you that the ERP SAP itself it’s complex for the entry level users. Because the SAP system includes most processes of the business like financial, marketing, accounting, etc. there are tons of works to do for the new users. But still, the SAP system is a powerful tool for the organization to manage different b…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 11 months ago
Security in an ERP system (e.g. SAP) is complex. What is the most fuzzy, difficult to understand component? Explain
First of all, the size of the ERP system is huge, it almost covers every functions in the business processes of an organization, which means the entry level staff and new users need to spend a lot of time in learning how to…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 11 months ago
What is segregation of duties and why is it a commonly used control? Give an example of two (e.g. IT) roles that should be segregated?
The segregation of duties requires that there must have more than one person to complete a task. In business the separation by sharing of more than one individual in one single task is an internal control to…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 12 months ago
That’s an interesting post Yulun. The DDoS attacks now can target in the social medias, which may cause widely effects. Since the social medias like Twitter have large number of users’ personal information, if the servers hacked by attackers, huge number of users may be affected. Therefore, the cyber security of social medias is truly very important.
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Fangzhou Hou posted a new activity comment 7 years, 12 months ago
Good example of Dyn suffering from the DDoS attack. In this case, the cyberattacks cause the network and system down for couple hours, which damaged the information assets of the company and also the reputation. Just curiosity, in the Dyn’s case, is that the spear phishing attacks allowed the attacker got the accessibility by stealing the PII f…[Read more]
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Fangzhou Hou commented on the post, Week 8: Questions, on the site 7 years, 12 months ago
Thanks for sharing your experience Yu-Ming. I totally agree with you that password policies is very important in accessing control. From my previous experience in a bank, the employees only have three chances to input the password. After three continue wrong password, the account will be locked. To help employees remember their password, the IT…[Read more]
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Fangzhou Hou commented on the post, Week 8: Questions, on the site 7 years, 12 months ago
I agree with you Sean, that it really depends on the specific scenario. Different size companies may have different choices. For example, for those new start companies, investment in improving entire network security may be too expensive, and negatively affect the financial statements. In this case, focus on key programs like SAP may maximize the…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 12 months ago
3. Consider the list of financial and accounting controls. Rank them. Which to you believe is the most important, the least. Why?
Financial and accounting controls are listed as follow:
1. Segregation of duties: Splitting responsibilities for bookkeeping, deposits, reporting and auditing to different person or departments to avoid one…[Read more]
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Fangzhou Hou posted a new activity comment 7 years, 12 months ago
1. Do you believe business rely too much on administrators to configure the security protocols in programs like SAP, rather than look for security in the entire network? Explain
In my point of view, it depends on the specific scenario. Indeed, the security of entire network of the organization is very important, however, to improve the secure…[Read more]
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