Question

In: Accounting

select one that would BEST prevent the system failure from occurring: A hacker accessed the Website...

select one that would BEST prevent the system failure from occurring:

A hacker accessed the Website at Valhalla, Inc. and changed some of the graphics. Confused by these changes, some customers took their business elsewhere.

Access control software

Firewall

Personnel termination control plans

Personnel selection and hiring control plans

Continuous data protection

Rotation of duties and forced vacations

Bob Johnson, the company cashier, was known throughout the company as a workaholic. After three years on the job, Bob suddenly suffered heart problems and was incapacitated for several weeks. While he was out of the office, the treasurer temporarily assumed his duties and discovered that Bob had misappropriated several thousand dollars since he was hired.

Firewall

Personnel termination control plans

Access control software

Personnel selection and hiring control plans

Continuous data protection

Rotation of duties and forced vacations

The PCAOB's Auditing Standard No. 5 (AS5) outlines the process for "An Audit of Internal Control over Financial Reporting (ICFR) That Is Integrated with an Audit of Financial Statements." Paragraph 24 of this document lists eight entity-level controls. Entity-level controls are comparable to the pervasive controls covered in this chapter. Match one of AS5's entity-level controls with a specific control plan below.

Entity-Level Controls from AS5

A. Access control and monitoring software.

B. Budgetary controls.

C. Report highlighting credit sales, returns, and allowances over the complete and entire reporting period, including 30 days after the close of a financial reporting period.

D. Use of control frameworks such as those provided by COSO and COBIT.

E. A report of all employees not taking required vacation days.

F. Development of a business interruption plan.

G. Program change controls.

H. Supervision.

1. Controls related to the control environment.

2. Controls over management override.

3. The company’s risk assessment process.

4. Centralized processing and controls, including shared service environments.

5. Controls to monitor the results of operations.

6. Controls to monitor other controls, including activities of the internal audit function, the audit committee and self-assessment programs.

Solutions

Expert Solution

1) CORRECT answer is b) Firewall - FIREWALL protect a system from unauthorised access so no hacker in future can make changes and have access to the system.

why other options are incorrect?

a) access control software is incorrect as it just manages flow of employee and guest traffic in the systeM through entry points and security.

c) Personnel termination control plans it is incorrect as it won't stop a hacker from accessing the system from remote access.

d) Personnel selection and hiring control plans again will not completely stop access in system from a hacker. So incorrect

e) Comtinuous data protection will only help in protection of data and will not stop unauthorised access. So incorrect.

f) Rotation of duties and forced vacation will only stop any fraudulent activity if being done by personnel will not prevent unauthorised access. So incorrect.

As per guidelines first question has been answered since no particular question was marked to answer.

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

Select one internal control from the list provided that would prevent or detect the error or...

Select one internal control from the list provided that would prevent or detect the error or fraud described. Controls may be used twice in this exercise or not at all. 1. ___ Invoices for goods sold are posted to the wrong account. 2. ___ Goods ordered by customers are shipped, but are not billed to anyone. 3. ___ Goods are removed from inventory for unauthorized orders. 4. ___ Invoices are sent to allies in a fraudulent scheme and sales are...

Which of the following would least likely prevent a computer hacking? Select one: a. Encryptions are...

Which of the following would least likely prevent a computer hacking? Select one: a. Encryptions are used for sensitive data files, password files, and sensitive computer programs. b. Passwords of transferred or terminated employees are changed immediately. c. Security policies that include training for all employees, customers, and others who do not need to access the network. d. Hacker publications and communications are reviewed to learn the current hacking methods. Question 3 Not yet answered Points out of 2.00 Flag...

1.) Discuss the concept of an alias signal and how do we prevent this from occurring....

1.) Discuss the concept of an alias signal and how do we prevent this from occurring. 2.) In a control system the safety loop should be (part of) or (external to) the main control loop?

EDI system can best add value to which of the following process? Select one: a. On...

EDI system can best add value to which of the following process? Select one: a. On daily basis sales department needs to send large amount of sales order information to both warehouse and production. Production department generates production plan according to the orders and sends the plan to warehouse, which sends inventory requests to purchasing department. b. Accounting department needs to monitor receiving and shipping activities at period end to ensure the transaction completeness in system. Accounting employees need to...

1. Which of the following best description of ERP system? Select one: a. It enables company...

1. Which of the following best description of ERP system? Select one: a. It enables company to provide services and conduct marketing activities online b. It is a combination of hardware and software system to prevent unauthorized system access c. It involves the computer-to-computer exchange of business documents in electronic form between organizations d. It is a modular software system that enables organizations to integrate their business processes using a single operating database 2. Which of the following is a...

Go to the U.S. Equal Employment Opportunity Commission website and select one (1) case from the...

Go to the U.S. Equal Employment Opportunity Commission website and select one (1) case from the list. Then, assess the major federal provision that was violated. Recommend at least three (3) action steps to avoid making a similar violation as hiring manager.

Which of the following best describes valence? Select one: a. It is the consequence resulting from...

Which of the following best describes valence? Select one: a. It is the consequence resulting from performance or lack of performance. b. It is the perceived likelihood that employees' efforts will enable them to attain valuable goals. c. It is the perceived likelihood that performance will be followed by a particular outcome. d. It is the value the expected outcome holds for the person contemplating it.

What can financial markets and institutions do to prevent a financial crisis from occurring? Recommendations.

A database Deadlock a. is a lock placed on a record to prevent it from being accessed by other processes. b. occurs when two records ..

A database Deadlocka. is a lock placed on a record to prevent it from being accessed by other processes. b. occurs when two records are accidentally assigned the same primary keyc. occurs when a unique record is accessed by several different processes simultaneously. d. is none of the above.

Select one current event article from any news organization or website that relates to corporate valuation. ...

Select one current event article from any news organization or website that relates to corporate valuation. Provide a summary of the article, including how the article relates to the article relates to corporate valuation

Subjects