Chapter 7 Control and AIS. Threats to AIS Natural disasters –DSM flood (p. 249) Political disasters –Terrorism Cyber crime (as opposed to general terrorism)

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Presentation transcript:

Chapter 7 Control and AIS

Threats to AIS Natural disasters –DSM flood (p. 249) Political disasters –Terrorism Cyber crime (as opposed to general terrorism) Equipment malfunctions Employee mistakes

Summary Statistics Information Systems Security Association 65% human errors 20% natural disasters and political terrorism 15% fraud (internal and external) (another association for you to join…)

Internal Control Management Control - broad focus Internal (Accounting) Control - narrower –policies and procedures

Internal Control Preventive, detective, corrective controls General and application controls Administrative and accounting controls Input, process, output controls

Focus Management and accounting controls exist for every purpose Do not get lost in the authors’ categories

Essential Background FCPA evolved from bribery concerns –proper recording of transactions –safeguard assets –accurate assets COSO AICPA, IIA, IMA, FEI –in-depth IC study Effective and efficient operations Reliable reporting Regulatory compliance

COBIT Info Sys Audit & Control Foundation Control Objectives for IT –benchmark security and control –users protected –auditors able to substantiate their opinions (Another organization for you to join…)

COSO IC Model Control environment Control activities Risk assessment Information and communication Monitoring (can you provide examples of each?)

Basic Needs Integrity and Ethical Values Management Philosophy and Operating Style Organizational Structure Assignment of Responsibility and Authority –Accounting Procedures Manual –Policy and Procedures Manual SEC Audit Committees

IC Activities Proper authorization Segregation of duties Design and use of documentation Safeguarding assets Review performance

Proper Authorization Dual signatures on checks –when ? Digital signatures

Segregation of Duties Custodial Functions Recording Functions Authorization Functions Examples –aviation –construction –collusion?

Adequate Documentation How to verify in a digital world?

Safeguard Assets (and Records?) Primarily, restrict access Implement IC procedures

Review Performance Redundant records –staff-level and administrators Audit - actual Vs. reported Batch totals - by hand Accounting - double-entry