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Yu Ming Keung commented on the post, Week 7 Questions, on the site 8 years ago
What controls can be implemented to mitigate the risks associated with outsourcing?
In case of pool outsourcing vender selection, they company can conduct a detailed study about the vendors about current processes, customer references. They have to select the best quality outsourcing vendors since they are performing important business.…[Read more]
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Yu Ming Keung posted a new activity comment 8 years ago
What are the benefits and risks of out-sourcing?
Benefits:
1. Save money, manpower and time
2. Can focus on core operation
3. Swiftness and ExpertiseRisks:
1. Risk of exposing confidential data
2. Have to deal with the relationship with the outsourcing partner
3. Lack of expertise in the long term
4. Quality service -
Yu Ming Keung commented on the post, Weekly Question #7: Complete by November 10, 2016, on the site 8 years ago
HI Ming,
Good point with the targeted training and workshop, it is very important for those personnel of other non-finance function department to understand the company policy and standard.
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Yu Ming Keung commented on the post, Week 7 Questions, on the site 8 years ago
Hi Paul,
Great post. However, I don’t know how realistic it is to perform the user access review by each department in real case scenario, if the access to the finance/accounting process is well restricted only to the finance / accounting department, I would rather implement a two-factor authentication for the ERP finance / accounting…[Read more]
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Yu Ming Keung commented on the post, Week 7 Questions, on the site 8 years ago
I have never though of accounting knowledge can help them make better decision. I definitely agree. IT personnel who have basic knowledge can also have a better communication with the finance department and it would help the other employee to better understand the IT system.
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Yu Ming Keung commented on the post, Week 7 Questions, on the site 8 years ago
Hi Alex,
Nice post, I like you mentioned the fact that accounting/finance and technology skills should go hand in hand. IT personnel have to fully understand the specific accounting /finance software, but if they don’t have general knowledge or don’t know how to read the accounting process and document, how can they be able to support the other…[Read more]
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Yu Ming Keung commented on the post, Week 7 Questions, on the site 8 years ago
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?
If I were r…[Read more]
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Yu Ming Keung commented on the post, Week 7 Questions, on the site 8 years ago
1. 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
I believe the IT personnel supporting business applications should have general understanding…[Read more]
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Yu Ming Keung posted a new activity comment 8 years ago
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.
Accounting standard: GAAP v.s. IRS
In the United States, the federal securities laws require all US publicly held companies to file reports with t…[Read more] -
Yu Ming Keung posted a new activity comment 8 years ago
According to ISACA, a business continuity plan (BCP) refers to plans about how a business should plan for continuing in case of a disaster. It allows a business to plan in advance what it needs to do to ensure that its key products and services continue to be delivered at a predefined level.
A disaster recovery planning (DRP) refers to how the…[Read more]
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Yu Ming Keung posted a new activity comment 8 years ago
Insurer Warns of Drone Hacking Threat
The increasing amount of drones, so-called unmanned aircraft systems(UAS) is being used in military and business, could present a major physical cybersecurity threat, potentially even resulting in loss of life.
However, there are attendant risks, notably the prospect of hackers taking remote control of a…[Read more] -
Yu Ming Keung posted a new activity comment 8 years ago
What are the sources of Electromagnet Pulse (EMP)? Why is it a physical security threat? How can an organization defend itself against EMP?
An electromagnetic pulse (EMP) is a high-frequency burst of electromagnetic energy caused by the rapid acceleration of changed particles. A catastrophic EMP would cause the collapse of critical civilian…[Read more]
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Yu Ming Keung commented on the post, Week 6 Questions, on the site 8 years ago
Hi Paul,
Really good explanation of VPN and I especially like what you mentioned about how organizations can implement the feature of VPN to gain security control and access to different network. If an organization use VPN, they will have a lower cost other types of configurations. And you mentioned how IT auditors can be benefited by using VPN…[Read more]
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Yu Ming Keung commented on the post, Week 6 Questions, on the site 8 years ago
Hi Priya,
Great post, I liked how you summarized the advantages of VPN very briefly. I would like to add that VPN allows internet users to access to unrestricted resources if the IP is blocked from somewhere.
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Yu Ming Keung commented on the post, Week 6 Questions, on the site 8 years ago
Hi Fangshou,
you have a great analysis of disadvantage of VPN, I agree with you that the speed of uploading and downloading will be slower because it VPN is like another layer of internet. The data takes more time to pass through the extra layer of VPN.
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Yu Ming Keung commented on the post, Week 6 Questions, on the site 8 years ago
Great mnemonics! Wenting! but I want to learn more about how the second mnemonic can help me remember the seven layers? Do not tell the sales people anything, and what does it connect with the OSI model and what does anything mean to you?
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Yu Ming Keung posted a new activity comment 8 years ago
Thanks for sharing the news Magaly. “The jailbreak is the key here” When the users choose jailbreak their phones, they already accept the risk. The cydia apps are not authorized by Apple and their safety is always a doubt. A jailbreaked iPhone is like a house without its front door. The security controls built into the device can easily be bypassed.
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Yu Ming Keung posted a new activity comment 8 years ago
Hi Paul,
Interesting article, not just Germany but invasion of privacy by Facebook or google happens everywhere nowadays because they are dominantly getting involved in our daily life. We are seeing all the ads. on Facebook or Google based on our search history or whatsapp conversation. They can earn big money from those ads if they predominate…[Read more]
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Yu Ming Keung posted a new activity comment 8 years ago
Bad Security Habits Persist Despite Rising Awareness
The article mentioned that organizations undermine their own efforts by failing to enforce well-known security best practices around potential vulnerabilities associated with privileged accounts, third-party vendor access and data stored in the cloud While the huge number of cybersecurity…[Read more]
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Yu Ming Keung posted a new activity comment 8 years ago
What is OSI model? What’s the main function of each OSI layer?
OSI Model
1. Describes how data moves from one system to another system.
2. describe how to build applications, protocols, and equipment that move data from your application to the physical wire, across hundreds or thousands of miles, to an application on the other side.OSI m…[Read more]
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