In: Accounting
Identify at least one risk that auditors need to consider for companies that process Web-based sales transactions, including credit card payments. For the risk identified, develop a mitigation risk strategy. Provide a specific example.
The Most important risk that auditors need to consider for companies that process web based Sales transcations is security risk i.e Virus attacks or E-Frauds.. we have seen in so many cases where hackers are able to breach the security and can harm the business. The auditor need to understand the business procedure to identify and mitigate the risk.
Below are the some steps to be followed for risk mitigation-