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Seunghyun (Daniel) Min commented on the post, Week 2 Questions, on the site 7 years, 11 months ago
Rightly said, Wen Ting and Professor Yao. I totally agree that the audit process cannot be closed without resolving each issue found in the audit. In order to do that, I also believe auditors should constantly communicate with management to inform what issues are found and what needs to be corrected for controls to operate properly. Thank you for…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Comparing ITIL and COBIT: list some key similarities and difference based on your understanding
ITIL vs. COBIT
Similarity
• Provide guidance for the governance and management of IT-related services
DifferencesITIS
• Provide “how”
• Way to manage the IT service across their lifecycle
• ITIL focuses more on IT service man…[Read more] -
Seunghyun (Daniel) Min commented on the post, Week 2 Questions, on the site 7 years, 11 months ago
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Explain the key IT audit phases What are the key activities within each phase?
IT audit phases are similar to the internal audit ones. The phases are as follows:
Phase 1: Audit Planning
– Developing an overall strategy for performing the audit.
– Developing an overall audit strategy, an audit plan, and an audit program.
– *Planning…[Read more] -
Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Hi Paul,
Thank you for sharing your experience! Several days ago, I had a chance to talk to an IT Audit manager from MetLife. And he described an internal auditor’s role as “The role of internal audit is to provide independent assurance that an organization’s risk management, governance and internal control processes are operating effectively.”…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Priya and Paul,
I really thank you both sharing your experiences and explaining steps of the audit process. I’ve also heard that it is absolutely labor intensive to collect right evidence/documentation for auditees.
As I have a none of an experience in internal auditing, could you tell me how long it took to complete an auditing process? I…[Read more] -
Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Annamarie,
I appreciate sharing your experience!. I also had an experience similar to yours regarding sending/receiving invoices through an automated system. The one I used was, however, nothing close to SAP system, though. I used the in-house developed system while I was working for a grocery store. The system only comprised simple functions…[Read more]
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Seunghyun (Daniel) Min commented on the post, Week 2: Questions, on the site 7 years, 11 months ago
Rightly said, Yulun.
Risks are the last things that a company wants to ignore it. A risk can be defined as a measure of threat, which means a risk can also be described as potential losses or a damage to an organization. You hit it right on the head as it is crucial to set up the right risk management plan within the organization. One of the…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
How does the control environment affect IT?
As we have watched the video in class, IT would be exposed to be vulnerable without setting up proper controls. The control environment is a huge deal to utilize IT safely and efficiently. In my last job as a Technology Consultant, employees in the building were not able to install or delete…[Read more]
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Seunghyun (Daniel) Min commented on the post, Week 1 Questions, on the site 7 years, 11 months ago
Abhay & Deepali,
Correct. And that formal training should be up-to-date periodically because hackers/attackers are always finding ways to attack our precious information assets.
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Seunghyun (Daniel) Min commented on the post, Week 1 Questions, on the site 7 years, 11 months ago
Sean,
I had a similar experience when I was in the Army. Our personal removable devices were all blocked. If we tried to use it, an exotic warning screen was displayed on the screen and the computer even made a warning siren sound. In addition to that, for the security purpose, an intranet was used in the Army bases.
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Sean,
Thank you for your reply! I really like you mentioned “up to no good” personnel. They are bugs in any entities. Personally, I can’t get along with those people. The way I look at them is they are nothing but harming our organizations. Can you think of any instances of preventing them harming our organizations or even not letting them into…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Annamaire,
I can’t agree more than what you said on your post. Auditors should be knowledgeable of what they are auditing. For example, as an IT auditor, he/she should be aware of not only information technology systems of auditees, but their business and financial structures as well, You mentioned about the relationship between auditor and…[Read more]
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Seunghyun (Daniel) Min commented on the post, Week 1 Questions, on the site 7 years, 11 months ago
Mansi,
Great post. it was a pleasure to read your post that you pointed out the control environment actually helps an organization spend less expenditure fixing incidents which could happen because employees are not mindful or conscious of their own actions against security management. An implementation of controls is often considered to be an…[Read more] -
Seunghyun (Daniel) Min commented on the post, Week 1 Questions, on the site 7 years, 11 months ago
What are some current system-related risks that you have experienced in your organization?
I want to share my experience regarding system-related risks when I worked for a grocery store. In my work, we had our own ERP system that we used for ordering merchandises, receiving invoices, monitoring sales, and expenses, etc. Although the system has…[Read more] -
Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
1. Describe a business process you have experienced (either as an external or internal participant) and what your role was.
Business process: IMPLEMENTATION OF IN-HOUSE DEVELOPED PROCUREMENT SYSTEM
In my past job, H MART, which is an American grocery store specialized in Asian products, I had a chance to experience implementing new…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Professor Yao,
Without a doubt, it is salient for financial/operational auditors to have some knowledge of understanding of technology. The reason why I have said that is financial and operational companies are living in technology. Technology systems are a backbone of their business operations. It is literally impossible for those companies…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Ian,
Great post. In addition to what you mentioned above, I can add several more elements of the Control Environment in managerial perspectives. The Control Environment benefits organizations to achieve their strategic goals; provide reliable financial reporting to internal and external stakeholders; operate their businesses efficiently and…[Read more]
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Seunghyun (Daniel) Min changed their profile picture 7 years, 11 months ago
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
What issues did you identify from this video?
The main issues I was able to identify from the video were employees were ignorant or lacking knowledge of securing their information assets. Leaving the door open after accessing the restricted area, writing down personal passcode and leaving it on the area that anybody can easily access, not being…[Read more]
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