Wenlin Zhou

APT28 is considered to be one of the most sophisticated and successful cyberespionage groups in the world and it frequently uses zero-day exploits—exploits for previously unknown vulnerabilities. The group has been blamed for many hacking operations around the world over the years, and its selection of targets has frequently reflected Russia’s geo…[Read more]

Millennials will help the Audit and Assurance profession. Managers need to really understand the personal and professional goals of millennials. Put them on special rotational assignments more frequently to give them a sense that they are moving toward something and gaining a variety of experiences. Challenge them to come up with new ways to…[Read more]

Which one of these do you consider the worst type from the standpoint of the auditee? Why? The auditee is the person or group responsible for the subject matter being audited.
From the standpoint of the auditee, I would consider that the Faker is the worst type of auditors. IT technology is changing every day, so the IS auditor cannot know…[Read more]

Technology provides a wide range of tools entrepreneurs can use to guide their new companies through the startup and growth stages. Small-business accounting, marketing and communication have been revolutionized by advances in computer, network and communications technology, and businesses in a range of industries continually adapt to take full…[Read more]

Nice shared. Wells Fargo comes to my mind which is the last year scandal due to lack of internal control. As most of us know, Wells Fargo has recently disclosed that a large scale fraud has taken place within the company, which resulted in 5,300 employees being fired or about 2% of its workforce. Employees incentivized to open new accounts, such…[Read more]

I agree with you. There are five broad ways in which using big data can create value. First, big data can unlock significant value by making information transparent and usable at much higher frequency. Second, as organizations create and store more transactional data in digital form, they can collect more accurate and detailed performance…[Read more]

Yes, I agree with you. Unethical behavior is not only what you believe to be right and fair, it is a reflection of your personal brand and what people can expect from you personally and professionally. Therefore, the independence is very necessary for the auditor, and auditor should obey the ethical code such as AICPA ethical code.

SAP’s GRC module may be important and effective, but can the cost of GRC be justified? Explain

In general, we deal with GRC issues in situations involving SOX or HIPAA, and when working in the public sector. This area of control and access management is highly important, and usually narrowly focused. The SAP GRC module is targeted at this a…[Read more]

How much of automated controls should be desired? Is it beneficial to consider controls at the initial design phase or controls are introduced as and when needs arise?

the IT application controls are the opposite of the manual controls. These controls are implemented in the IT or ERP systems and are used every time transactions go through the…[Read more]

I agree with you. Audit independence refers to an unbiased mental attitude in making decisions throughout the audit and financial reporting that without independence, audit has no value， as the result, auditor should maintain independent and exists to professional ethics, Independent auditor is expected to be without bias with respect to the c…[Read more]

A person’s character is very crucial in the audit industry. How would you build your reputation and maintain a good ethical character in this industry?

Learn as much as possible about your chosen subject matter. An efficient way to do this is to partner with someone who’s well-respected in that legal area, Summerville says. Offer to help on…[Read more]

Mobile devices are a good way to improve the ERP competitive. Business benefits of mobilizing business scenarios.

The primary benefits of enterprise mobility are
• Increased efficiency of operations
• Enhanced productivity of the workforce
• Increased customer satisfaction
• Increased flexibility

Delivered via
• Acces…[Read more]

I agree with you. Employee training is important. For an effective implementation of SAP system, employees in an organization must be well knowledgeable in all the SAP functions and processes. Employees with inadequate SAP training may not do well in the business processes after SAP implementation, leading to operational inefficiency. This is why…[Read more]

I agree with you. Security is very important in SAP. Any security vulnerability may result in financial loss, business disruptions, misstatement of financial information. Unlike infrastructure security vulnerability, SAP security vulnerability may directly impact the business. SAP is an integrated system, therefore, any errors may have a…[Read more]

What aspect of compliance should an organization put the most effort into ensuring their controls are adequate?

the five essential elements of a corporate compliance program.
1. Leadership. The point means more than simply “Tone-at-the-top”; a successful compliance program must be built on a solid foundation of ethics that are fully and…[Read more]

When is the cost of implementing a compliance control higher than the benefit obtained?
Businesses often respond to regulatory compliance issues in an ad hoc, one-off manner. This approach is less and less viable as regulatory mandates, such as those of the Sarbanes-Oxley (SOX) Act, continue to multiply. Businesses must approach compliance…[Read more]