Business Fraud - Ais Writing Assignment Essays - 822 Words

Educational Credit Management Corp - ECMC, a student loan guarantee agency based off of Minnesota, announced on March 2010 that there was a security breach in their establishment. Student loan borrowers had their personal information (names, social security numbers, addresses, and dates of birth at a minimum) stolen off of the premises via â€Å"portable media†. In the article, Data Theft Hits 3.3 Million Borrowers, Pilon noted that this is believed to be the largest data breach of its kind and â€Å"could affect as many as 5% of all federal student-loan borrowers† (Para. 1). As a precaution, ECMC made arrangements with Experian, the credit protection agency, to provide credit monitoring services to borrowers affected by the data breach. In†¦show more content†¦Employees should be properly trained to understand and follow the company’s security policies. According to Romney, training â€Å"is especially needed to educate employees about social en gineering attacks, which use deception to obtain unauthorized access to information resources†(pp.261). Proper training of employees could have prevented the breach as well. Assuming that an outsider was the thief, I believe it would have been obvious that he/she was not wearing an ID badge or would have been aware of piggybacking, for example (pp. 261). Lastly, physical access controls are those that refrain entry into an area that may contain sensitive information. According to the text, this control â€Å"is essential to achieve any degree of information security†. There are a wide range of potential threats that an intruder that is left unsupervised can cause an organization such as copying files with a portable device or as daring as stealing the computer itself (Romney, 2009, pp. 262). Physical access controls had to have been lacking at ECMC. As Romney states, â€Å"physical access control begins with entry points to the building itself† so assumin g the data was taken by an outsider, if physical access controls would have been placed the breach would have been prevented (pp. 262). After researching the situation at ECMC, I failed to locate details about the perpetrator. It was revealed that they notified law enforcementShow MoreRelatedais homework 1 5329 Words   |  22 Pagesare some changes you think will occur in the way financial information is gathered, processed, and communicated as a result of increasingly sophisticated IT? Advances in IT that allow transactions to be captured immediately, accountants and even the AIS itself can produce financial statements almost in real-time. Interactive data allows for information to be reused and carried seamlessly among a variety of applications or reports. 4. XBRL is emerging as the language that will be used to create interactiveRead MoreThe Role Of Data Mining For Information Extraction2313 Words   |  10 Pagesinterest in the data business and in the public eye overall lately, because of wide accessibility to massive amount of data and the up and coming need of turning such data into valuable data and information. This data and information can be utilized for applications running from market analysis, fraud detection and different investigations. The aim of this paper is to explore the role of data mining for information extraction, its importance in the current world. prolific writing has been devoted toRead MoreEssay on Itgc Case Study6301 Words   |  26 Pagesauditor’s risk assessment is often challenging for students. Accordingly, our case offers accounting faculty an assignment or project that is a ‘‘real world,’’ comprehensive supplement to textbook materials on the topic of risk and ITGCs. THE CASE Several months ago, you started working at a large public accounting ï ¬ rm as an IT staff auditor. You are currently working on your ï ¬ rst assignment, an ITGC review of the Foods Fantastic Company (FFC). FFC is a publicly traded, regional grocery store chainRead MoreAccounting Information System Chapter 1137115 Words   |  549 PagesYou came up with a great idea for a new mobile phone application that you think will make lots of money. Your business plan won second place in a local competition, and you are using the $10,000 prize to support yourselves as you start your company. a. Identify the key decisions you need to make to be successful entrepreneurs, the information you need to make them, and the business processes you will need to engage in. b. Your company will need to exchange information with various externalRead MoreAccounting Information Systems Test Bank 10th Edition41120 Words   |  165 Pagesdecision makers. c) another word for information. d) quantitative facts that are not qualitative by nature. 7. Which of the following statements below shows the contrast between data and information? a) Data is the output of an AIS. b) Information is the primary output of an AIS. c) Data is more useful in decision-making than information. d) Data and information are the same. 8. Information is a) basically the same as data. b) raw facts about transactions. c) potentially useful facts when processedRead MoreAccounting Systems, Internal Controls, and Ethics28179 Words   |  113 PagesActivities 45 1.6 Control over Payroll 51 Internal Control Objectives and Strategies 51 1.7 Control over Fixed Assets 57 Internal Control Objectives and Strategies 57 1.8 Other Controls 61 Budgetary Control 61 Information Systems 61 1.9 Ethics, Business, and the Accounting Profession 65 Defining Ethics 65 Need for Ethics 67 1.10 Summary 79 Minute Paper 80 Minute Paper 80 Glossary 82 Readings 103 Reading 1: Selling on Credit Receivables 103 Reading 2: Control over Sales of InventoriesRead MoreInternship Report in Janata Bank Limited9784 Words   |  40 Pagesprogram is a perfect bridge to match the gap between theoretical and practical knowledge. Only curriculum activity is not sufficient to handle the real business situation. So, it is an urge to arrange an internship program. This program consists of at least there phases: ⠝‘ Orientation with the organization ⠝‘ Completing the project work ⠝‘ Writing the report Internship report on Human Resources Management Practices in Janata Bank has been supervised by Dr. Md. Nazmul Karim Chowdhury, ProfessorRead MoreIntroduction to Tax Residence14946 Words   |  60 PagesïÆ'Ëœ ïÆ'Ëœ 1. 2. 3. 4. PR—’’controlling authority’’ which determines the policies to be followed by the Co . Mgt and control is considered to be exercised where director meet to conduct the Co business or affairs Factor irrelevant for determination of Co resident status Location of business Shareholder controls Appointment of local Director’s resident status 5 Chapter 2 chargeable income basic tax computation ï‚ ¨ Income tax= chargeable income X tax rates 1. Basic period 4Read MoreIntroduction to Tax Residence14946 Words   |  60 Pagesheld abroad 4 ïÆ'Ëœ ïÆ'Ëœ 1. 2. 3. 4. PR—’’controlling authority’’ which determines the policies to be followed by the Co . Mgt and control is considered to be exercised where director meet to conduct the Co business or affairs Factor irrelevant for determination of Co resident status Location of business Shareholder controls Appointment of local Director’s resident status 5 Chapter 2 chargeable income basic tax computation ï‚ ¨ Income tax= chargeable income X tax rates 1. Basic period 4. statutory incomeRead MoreAssignment on Hr Practices8207 Words   |  33 Pagescontradicts from ethical and moral standard, laws and civic virtues. Corruption involves giving and seeking of favours, buying political influence, taking kickbacks, and bribes. Corruption may also include any or a combination of such acts as embezzlement, fraud, nepotism, negligence of duty, misuse of public or institutional fund and extortion. Corruption is a menace that breeds and increases all forms of injustice it accentuates poverty, prevents development, and undermines democracy and governance. It