¶ … companies be held liable?
The issue of whether firms should be held responsible for losses sustained for external attacks on their AIS (accounting information systems) has recently come into sharp focus. On one hand, if a firm has put in place sufficient security measures, then in that case they shouldn't be held liable for any losses incurred in an external attack on their AIS. On the other hand, if a firm is negligent and has failed to put into adequate security controls, then they ought to be held liable for any losses incurred in the event of a successful security attack on their accounting information systems. There are quite a number of different types of attack that can enable access to accounting information systems (AIS), and if a company does not put measures to protect themselves against those attacks, then in the event of a successful attack the relevance and/or reliability of the financial information will be destroyed (Beard & Wen, 2007).
It is my opinion that in the event of a successful attack on a firm's financial systems, lawsuit(s) should be filed against the company. It is the responsibility of every organization to make sure that their AIS are protected against any form of unauthorized external access. On those grounds, every organization should ensure the credibility of their accounting information systems at all times. This paper fully supports the argument that organizations should be held legally...
Information System holds in Accounting Industry's future? Looking through the glass and estimating what the future holds for any individual or profession is always a difficult exercise as the trends in any business or profession may change and so the path of development. It is better to look at the experience of some companies whose systems have changed over the past few years and thus try to estimate what is
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Reject Shop -- Recent Events (January 1st, 2010 -- March 31st, 2011) EVENT 1: Publication Date: February 16th 2011 -- Impact of floods on sales The Reject Shop issued a statement declaring uncertainty regarding the aggregate cost of the floods and whether 100% of costs are reimbursable by insurance coverage and indemnity. The company's operations in Victoria and in Queensland Australia have been adversely effected. With working capital at a premium, according
awarding audit contracts by U.S. government departments and agencies Audit Management Red Rationale for and Objectives of the project main and secondary Desktop or literature search Rationale for Search Methodology LITERATURE/DESKTOP RESEARCH Authoritative sources Desktop Findings Justification for audits Evolving role of auditors Types of audit contracts Understanding the Audit Process Best practices and benchmarking Terminology Case Studies Audit management is a fundamental element in government accountability, control and performance management. Certainly there is justification within the Federal government to conduct audits of contracts for the
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