Question

In: Accounting

The internal auditor of a small company has recommended to the CEO that it invest in...

The internal auditor of a small company has recommended to the CEO that it invest in a disaster recovery plan (DRP) because of several identified vulnerabilities. Traditional in-house DRP approaches are, however, not a viable option because the company lacks the necessary IT resources to implement and manage these tasks. The auditor has suggested that outsourcing disaster recovery to a cloud-based service provider may be a reasonable alternative. The CEO has no experience with cloud computing and has asked the internal auditor to provide him with more information.

Required:

Prepare a report outlining cloud computing. Your report should address the following:

  1. Define cloud computing.
  2. List the key features of cloud computing
  3. Describe how the services provided under cloud computing relate to disaster recovery planning.
  4. Outline the risks associated with this technology

Solutions

Expert Solution

Cloud computing:

In Simple terms, cloud means by which global class, highly scalable and flexible services can be delivered and consumed over the internet through as needed, pay per use business model i.e., many different things to different people.

Clould computing refers to storing and delivering the data over the internet without using the hard drives and some software applications to store the records. The best example for cloud computing is Google Drive where the individual can store their records in the cloud. It can be accessible any time any where.

Features of cloud computing:

  1. It increases productivity and resources over the long run.
  2. Cloud computing results in greater availability of network and can be accessed by different customer platforms.
  3. It can be easily monitored and maintained.
  4. The key feature of cloud computing is safety and security even if their is any damage due to disaster the information stored in cloud is secure and it cannot be hacked by another person.
  5. The cloud computing is cost effective.

Now a days data is the most important asset in the present world. If the data is stored in the hard drive is damaged or erased due to some disasters it results to decrease the productivity, revenue and goodwill of the company. So, if you have cloud computing you can easily recover the data which is lost during disasters as well as cloud computing is Affordable by every individual. The main goal of disaster recovery is to reduce the overall impact of a disaster on business activities without any failure and delay.

Risks associated with cloud computing is

  • Their may be loss of sensitive data because it involves control from the customer to service provider.
  • Storing large volume of information on the cloud result in malware infections and breaches.

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