Jaspreet K. Badesha

1. 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?
Segregation of duties is when a job function that could be performed by one person is split into something that is performed by multiple people to avoid giving to much control to one person. Therefore,…[Read more]

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
No, I think a lot of businesses do rely on the configurations of security protocols but those can get compromised so they have realistic measures or proactive staff w…[Read more]

4. You’ve used various computer systems in your lifetime, career.  System security is complex and often maligned as cumbersome, difficult, bureaucratic, etc.  Have you seen these problems in your experience?   Explain
The most cumbersome experience I’ve had at both school and all of my jobs were changing my passwords frequently and not allowin…[Read more]

2. What is the relevance of only being able to have one posting period open at a time for real time postings?  What does this prevent from happening?
Each company can decide how many posting periods they want to keep open at a time. However, most companies chose to keep one open at a time so that account postings are posted to the correct month…[Read more]

This is very well stated Yu. Knowledge of the accounting system is crucial in serving the users of the application and is also crucial in detecting fraud in that function. I also agree that training should be provided to IT personnel so they know how that specific company does tasks and what can be prevented / or what risks or gaps there are in…[Read more]

3. Controls are important to financial and accounting processes.  What would be different in the controls of a purely domestic US company vs. an international company?  Give 1 – 2 specific examples.
A US company would strictly focus on following controls that are put in place for US companies such as SOX and only have to account for taxes thro…[Read more]

4. How important is it for people responsible for general I/T controls (e.g. Network, workstation, Server and data base security) to know about how the ERP system works?  What is one (1) specific thing they should know?
It is very important for individuals who are responsible for the general IT controls to know how the ERP system works. 1 sp…[Read more]

1. 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?
I would manage t…[Read more]

I really like the fact that you mentioned it as a preventative control.

2. As we continue to learn about business processes and ERP systems we often discuss financial or account related terms and concepts.  How much finance and accounting knowledge should IT personnel supporting business applications know and learn?  Explain
IT personnel need to have some basic accounting experience if they are supporting a firm tha…[Read more]

This is very well put. I believe both functions should be responsible.

I agree. This is a great point. Finance is approving the sale by saying the client is good (in the sense of their credit rating). However, sales should follow through with their customers. They are not simply making sales but handling their clients and contributing to the business, which includes seeing their sales through.

4. You’ve now seen the entire Order to Cash (OTC) Process.  If you were responsible for the controls of this process – what would keep you up at night (e.g. be your area of most concern)?  Explain 
Availability of products (inventory controls) to ship out and shipping out on time. These are the largest items that would keep me up at night since a…[Read more]

3. Controls are important in all the OTC processes including invoicing and collections.  What would be different in the controls of a purely domestic US company vs. an international company?  Give 1 – 2 specific examples.
1. Payment processing – To ensure that the global policies and payment processes are being followed.
2. Shipping proc…[Read more]

1. Assume you’re an outside organization with goal to cause negative things to happen to an organization’s Order to Cash (OTC) process.  Where would you attack it? Explain Why and How
I would hack their customer information and change shipping addresses for all companies as well as steal and overcharge their customers. This would make custo…[Read more]

2. Who in an organization should care more about the collections process – Finance or Sales? Explain.
I believe since services should only be supplied to customers who have a good credit rating and if finance approves the supplier and allows the transaction to still go through it is their liability. They should be responsible to ensure that th…[Read more]

1. 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?
-Hidden cameras that only managers and security personnel know the location of. This deters employees from stealing as well as c…[Read more]

What are the advantages of VPN?
– Data is kept secured and encrypted.
– Remote access and control to data.
– Share files
– Online Anonymity – can search websites privately
– Better performance – bandwidth and efficiency of a network are increased.
– Reduce costs – once VPN network is created the maintenance cost is really low…[Read more]

What is OSI model? What’s the main function of each OSI layer?
OSI model stands for Open Systems Interconnection model. It is a model that characterizes and standardizes the communication functions of a telecommunication or computing system regardless of its internal structure and technology. Its goal is to allow diverse communication through s…[Read more]