Wenlin Zhou

Who in a company should be responsible for the controls of that company’s Order to Cash (OTC) Process? Why?

CIO is responsible for OTC, because he is the top management in the overall organization system. the CIO will listen the SAP gourp report in order to make some decisions. What’s more, Order-to-Cash Director is specific responsible for t…[Read more]

Which portion of the Order to Cash (OTC) process do they see as the most vulnerable to theft, fraud or failure of some kind? Explain.
It may appear in the order processing. For example , the orders may not correctly Authorized. What’s more, if customers want to modify the delivery or ship-to address, someone may be intended to change the some…[Read more]

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

I would like to use Amazon to buy something. If we consider the ERP system flow, this is typically categorized into the following eight sub-processes:
1.Customer prese…[Read more]

“Add five 1-GB SCSI drives to your virtual machine”, I cannot find the place in order to add five SCSI drives. Where is it?

I agree with you. Relational databases allow you to define certain record fields, as keys or indexes, to perform search queries, join table records and establish integrity constraints. Search queries are faster and more accurate when based on indexed values. Table records can be easily joined by the indexed values. Integrity constraints can be…[Read more]

Improperly or inadequately trained employees can be a danger to themselves and those around them such as system. To minimize issues, all employees in the same position should receive the same training. In addition, all training should be formalized, scheduled as a separate activity and documented when complete.

Of course, the frequent update the software. It will be limited to use the information. So this affected the data available aspect. However, the updating system is to mitigate the risk. The company should get a balance.

I agree with you Abhay, the corrective controls and preventive controls should have segregation of duties. The app developer should be different with corrective person.

Data-Stealing Malicious Apps Found in Google Play Store
http://www.infosecurity-magazine.com/news/malicious-apps-found-in-google/

Researchers from Lookout’s Security Research & Response team identified a piece of spyware hiding in four apps available in Google’s official app store. The spyware has been dubbed Overseer, and is capable of ste…[Read more]

Q: List risks associated with database management systems (DBMS)?

-Easily guessed passwords
-Potential organizational conflict
-Target for hackers
-Required to be available at all times
–Failed or incomplete backups

Key benefits of relational databases vs traditional file system?

A “relational database” is a database structured on the “relational” model. Data are stored and presented in a tabular format, organized in rows and columns with one record per row.

The traditional filing system (TFS) is a method of storing and arranging computer files and the…[Read more]

What are key characters of relational database management systems?

Relational Database Management System organizes data into related rows and columns.

Features:

– It stores data in tables.
– Tables have rows and column.
– These tables are created using SQL.
– And data from these tables are also retrieved using SQL.

I agree with you. The small corporation used the risk profile and should focused on those aspects:
• key external influences on your business, e.g. political, social, legal
• key internal influences, e.g. organisational objectives
• risk management context, e.g. risk management requirements, objectives, timeframes

What is an information risk profile? How is it used? Why is it critical to the success of an organization’s risk management strategies and activities?

According to the ISACA, An information risk profile documents the types, amounts and priority of information risk that an organization finds acceptable and unacceptable. An organization’s inf…[Read more]

Of course, the human error also appeared in information level, so separation of duties and responsibilities can mitigate the risk to an acceptable level.

I agree with your opinion, Management’s assertions related with auditors and financial statement users. The auditors test the validity of these assertions by conducting a number of audit tests. And financial statement users can use those assertions to trust the reliable information, and then make a decision to investment.

I strongly agree with your point. The human errors also may be on purpose, some people may select the vender, which give the person some interests. What’s more, manual processes can reduce the human errors, and increasing efficiency. A separation of duties and responsibilities policy can reduce the risk.

In class we discussed several dimensions of Management Assertions. Which do you believe is the most important? Why?
Accuracy is the most important, which is the transactions are recorded at the appropriate amounts. This means that there have been no errors while preparing documents or in posting transactions to ledgers. What’s more, Assets,…[Read more]

The concept of ‘Assertions’ is important to accountants. Who else is it important to? Why?
Audit Assertions are the implicit or explicit claims and representations made by the management responsible for the preparation of financial statements regarding the appropriateness of the various elements of financial statements and dis…[Read more]