Great discussion this week. \u00a0You raised all the important points but let me share my thoughts.<\/p>\n
Q1<\/strong>: ‘Assertions’ are important to who? \u00a0You shared many good scenarios and examples. \u00a0In my view, assertions are important to anyone who uses information provided by a company. \u00a0Whether those relying on the information are inside or\u00a0outside the company, unless assertions \/ controls are in place they can’t count on the information. \u00a0We’ve talked mostly about financial information, but the veracity of non-financial information also requires assertions \/ controls.<\/p>\n Q2<\/strong>: \u00a0Which\u00a0dimension of Management Assertions do you believe is the most important? \u00a0In my view, all the dimensions are of some value. \u00a0The industry and type of business can significantly impact the varying risk associated with each dimension.<\/p>\n Q3<\/strong>: Have you ever\u00a0been victim of fraud? \u00a0 Thanks for sharing your own personal and some cases emotional stories. \u00a0I hope you agree with me that fraud is real in our world today and adequate controls are necessary \u00a0to address the risks. \u00a0The fraud triangle is a effective tool for analyzing risk scenarios – especially those of high risk.<\/p>\n Q4<\/strong>:\u00a0Which step of the P2P\u00a0is the most vulnerable? \u00a0Risks exist in every step of the process. \u00a0However, I believe the early and payment steps are the most vulnerable. \u00a0The vulnerability exists because the early steps relate to the value of the transaction and the payment step is where the $$ changes hands. \u00a0Because of the wide variety of different P2P scenarios, it’s a challenge to identify all the risks and effectively put controls in place to address.<\/p>\n I trust from our discussions in class and these questions, how important assertions and their related controls are. \u00a0We’ll be exploring for the remainder of class risks and related controls in various processes and scenarios.<\/p>\n","protected":false},"excerpt":{"rendered":" Great discussion this week. \u00a0You raised all the important points but let me share my thoughts. Q1: ‘Assertions’ are important to who? \u00a0You shared many good scenarios and examples. \u00a0In my view, assertions are important to anyone who uses information provided by a company. \u00a0Whether those relying on the information are inside or\u00a0outside the company, […]<\/p>\n","protected":false},"author":22812,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[715219],"tags":[],"class_list":{"0":"post-3807","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-week-03-it-administrative-controls","7":"entry"},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/posts\/3807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/users\/22812"}],"replies":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/comments?post=3807"}],"version-history":[{"count":1,"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/posts\/3807\/revisions"}],"predecessor-version":[{"id":4933,"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/posts\/3807\/revisions\/4933"}],"wp:attachment":[{"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/media?parent=3807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/categories?post=3807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/tags?post=3807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}