Yulun Song

2. In class we discussed several dimensions of Management Assertions. Which do you believe is the most important? Why?

Management assertions include several different assertions: occurrence, completeness, accuracy, timing, classification, stigmatization/presentation, existence, rights, valuation. Each is important. In my opinion, completeness…[Read more]

1. The concept of ‘Assertions’ is important to accountants. Who else is it important to? Why?

Assertions are important to accountants, and they are also playing important roles to auditors and business investors. For auditors, they need to obtain a letter containing management assertions from the senior management of a client; otherwise, the…[Read more]

Sean, thank you for sharing your story. It scared me because I also have a couple friends using auto delivery companies to ship cars from Philadelphia to another city, one was to St. Jose and another one was to Texas. Their cars were totally fine, maybe the company is credible and their cars are not good as yours.

The article I read this week is called “Google to Shame Unencrypted Websites,” written by Tara Seals from Infosecurity magazine. The article talked about that Google Chrome, a web browser, will start “shaming” unencrypted websites beginning in January. It will mark HTTP login pages as “not secure” in a window next to the address bar, using a red…[Read more]

Good summary Wenting. COBIT also has seven enablers.

And seven enablers:
1. Principles, Policies and Frameworks
2. Processes
3. Organizational Structures
4. Culture, Ethics and Behavior
5. Information
6. Services, Infrastructure and Applications
7. People, Skills and…[Read more]

Thank for for listing COSO framework. In addition, COBIT and ITIL are also used generally. COBIT is complex to be used in larger companies whereas ITIL is used in small companies. however, larger companies prefer using both.

Good summary Sean! Both ITIL and COBIT provide guidance for the governance and management of IT related services. For larger companies, they prefer using both. Small companies prefer using ITIL because COBIT is complex.

Priya, thank you for the explanations and examples of all COSO frameworks. COSO as a joint initiative to combat corporate fraud, it helps organizations to establish governance, business ethics, internal controls, enterprise risk management, etc.

4. Why do we need control framework to guide IT auditing?

A control framework is organized and categorized structure for organization’s internal controls. It acts as a comprehensive security protocol that protects against fraud or theft from a spectrum of outside parties, including hackers and other kinds of cyber criminals.

COBIT and I…[Read more]

Resource from: https://nhlearningsolutions.com/Blog/TabId/145/ArtMID/16483/ArticleID/1514/COBIT-vs-ITIL.aspx

Q3: Comparing ITIL and COBIT: list some key similarities and difference based on your understanding.

Similarities: they both provide guidance for the governance and management of IT-related services by enterprises. For enterprises and IT professionals, they prefer using both ITIL and COBIT guidance to address business needs. In general, COBIT…[Read more]

Explain the key IT audit phases
What are the key activities within each phase?

1) Planning
– Establish an understanding with their client, which allows each party to know the nature of services to be provided and the responsibilities
– Develop an overall audit strategy, and audit plan, and an audit program
– Audit manager provides the audit…[Read more]

Ian, your explanations and examples are well explained these three types of risk mitigating controls. I also agree with you that corrective controls can be important for the company to restore all systems and data.
However, I would like to say that as Paul said above, “Why have a control that detects or corrects a problem when you can have a…[Read more]

1. What are the 3 types of risk mitigating controls? Which is the most important? Why is it the most important?

The three types of risk mitigating controls are:

Preventive controls:
They are controls that prevent any problems, losses and harms from happening. For example, segregation of responsibilities, if an employee authorizes a…[Read more]

Wow! Inspired me!!!!! My professor said in MIS 2501(Mart Doyle) before, you can always plug a cord to the internet of your apartment’s building and see what your neighbors do. Trust me, for majority (like 99% of our students and professors) are still good to trust!

Thanks for sharing!

I like your #2, laptops needs to be secured by using Kensignton locks, Mansi.
I would like to say that maybe in the video, people there are employees and upper management thinks they are safe to be there.

Thank you for your response Mansi. I looked some replies and some other people also said desk drawers keeping unlocked is a big issue for many organizations. I would like to suggest that every employee needs a private lock for his own drawer, for the reason that some secured information or checks can be secured safely.

Thank you for you suggestion Wenting!

Agreed. Bringing in visitors may be a big concern to Temple University. because these people may be your friends, however, people’s behaviors are hardly to see clearly.

Software development is also a concern. Universities always develop new and professional students in the world. So if these kind of students want to try their solution of their…[Read more]

Thank you again for you shares! You answered all my questions! Based on your work experience, I recognized that data protection is so important for any business. Just like what we talked about the insurance policy, if the company lost it, plus the client lost it, we have to treat them as new customers because of the data lose, which will make…[Read more]