Controls for Information Technology and Reporting Evaluation Essay

Formal user access control procedures must be documented, implemented and kept up to date for each application and information system to ensure authorised user access and to prevent unauthorised access. They must cover all stages of the lifecycle of user access, from the initial registration of new users to the final de-registration of users who no longer require access. These must be agreed by IDI. User access rights must be reviewed at regular intervals to ensure that the appropriate rights are still allocated. System administration accounts must only be provided to users that are required to perform system administration tasks.

There is a mess of servers, switches, switches, and inward equipment firewalls. Each of the association's areas is working with diverse data advances and foundation IT frameworks, provisions, and databases. Different levels of IT security and access administration have been actualized and inserted inside their individual areas. The data engineering framework is maturing and numerous areas are running on antiquated fittings and programming. Additionally, the framework is woefully out-of-dated regarding fixes and overhauls which significantly expand the danger to the arrange as far as classifiedness, trustworthiness, and accessibility.

The same starting information will be accessed by PC from the memory gadget, the recovery of the information will be automatic and the speed of recovery will be a few times faster than that of the manual systems. The movement of the information in the accounting system is the first step, however, movement of information is not the catalyst for business opportunities; supplanting the system obliges customization as per the new system, nevertheless, the current information additionally should be moved into new system (Castle, 2008). The movement of the information does not bring new opportunities as it is expected after the computerization of the accounting systems. The new system will have distinctive risks, and the prerequisites will be diverse for the information operations and recovery. The inside controls will be distinctive, and the regulations will be diverse. The recovery of the information turns out to be simple and snappy due to the modernized systems. However, it has the dangers identified with the utilization of information for the reason other than that for which it was gathered. An employee is not supposed to use confidential information of other employees, and therefore confidentiality must be up held. Personal information should be kept classified and utilized just for the planned reason. The information assurance acts have confined the entrance of information by an unauthorized

Risk Management is an internal IT strategy used to align the IT risk management plans with the business strategic initiatives to reduce the IT threats. Incorporating this process will ensure IT risks are managed, and the impacts are identified and monitored effectively.

Managing risks - ensuring that the business will gain benefits, more so that being affected by costs. This can involve developing control procedures that management and staff can follow to ensure practices are being completed appropriately and are going towards the organisation’s goals. Control procedures can include:

Internal control is one of the integral parts of an organization. It is a system which controls different types of risks,

● Monitoring — Internal control systems need to be monitored–a process that assesses the quality of the system’s performance over time. This is accomplished through ongoing monitoring activities, separate evaluations or a combination of the two. Ongoing monitoring occurs in the course of operations. It includes regular management and supervisory activities, and other actions personnel take in performing their duties. The scope and frequency of separate evaluations will depend primarily on an assessment of risks and the effectiveness of ongoing monitoring procedures. Internal control deficiencies should be reported upstream, with serious matters reported to top management and the board.

Internal controls are vital to any company’s business and financial sustainability. Internal controls consist of measures taken by a company safeguarding against fraud, and theft. Internal controls ensure accuracy and reliability in accounting data, and secure policies within the organization. Further, internal controls evaluate all levels of performance. These are addressed with five principles

Information systems are known to be at risk from malicious attacks, user error, and from other disasters. As technology is relied upon more heavily and computer systems become interdependent and accessible by more individuals, the susceptibility to threats increases. In addition, individuals are developing high levels of computer skills that results in an increased risk of intrusion from outsiders. The Information Security Risk Assessment will determine the assets of the company, organizational risks, the current security posture, any areas of risk for GDI, and recommend a mitigation strategy for reducing information security risks and implementing strategies to reduce these risks. Through the Information Security Risk Assessment, GDI is taking steps to ensure that the organization identifies significant risks and determines the best method to mitigate the risks.

All workers of this organization oversee ensuring that data is secured appropriately. Senior administration oversees issuing and embracing this Security Policy. They perceive the delicate idea of the data that the association stores and forms, and the genuine potential mischief that could be caused by security occurrences influencing this data. They will along these lines give the most astounding need to data security. This will imply that security matters will be considered as a high need in settling on any organization choices. This will help Campbell Computer Consulting and Technology Company to assign adequate human specialized and budgetary assets to data security administration and to make a proper move considering all infringement of Security

Moreover, now days using information system is not as walking as in the park, it has many new security treats that the company might lose their confidential data, financial and personal information.

Collier (2009) claims that the fundamental role of the Board of the directors in a company is to apply risk management and to review the performance of the organisations’ internal control procedures; these two principal processes will support the Board in the setting of the strategic targets, the transformation of the targets into real products and services, the effective business overseeing, and the realistic reporting to the external stakeholders. Apart from the Board, the author suggests that an effective risk management framework must be facilitated by a risk management group, a chief risk officer, external and internal audits, and a mature organisational culture disseminated to the line managers and employees. Under the same concept, Hampton (2009) presented a flow gram that suggests the path towards the establishment of enterprise risk management, starting from the risk recognition and ending to the standardization of a risk evaluation process, having prior involved the Board, the risk owners and the accountable staff.

Information is an asset that, like other important personal assets, is essential to an in-dividual and should be protected. Information can exist in many forms. It can be printed or written on paper, stored electronically, transmitted by post or by using electronic means, shown, or spoken in conversation. In whatever form the information takes, or means by which it is shared or stored, it should always be appropriately secured.

Internal controls and recognizing risks are an important to an organization in order to keep structure, policies and procedures, prevent fraud and embezzlement, data integrity secured and physical

Information technology (IT) controls are particular functions performed by employees and operating systems specifically designed to ensure business objectives and goals are met. Although IT controls are different than internal controls both are vital functions of an organization that are both reported and evaluated on a regular basis. IT control objectives are based on confidentiality, integrity, data available, and general management of IT functions of the organization. IT general and application controls are based on information technology environment, system operations, and