Monday, January 6, 2020

Information Security And The Digital Realm - 734 Words

When it comes to information systems, auditing has never been so crucial regardless of the industry. As the digital realm is intensifying and information systems are evolving, we can see an increase in security breaches, which causes financial and long lasting reputational damage to an organization. The importance of information security is to ensure confidentiality, integrity and availability of data. Information such as bank account statements, trade secrets, and personal information should be kept private and confidential. Protecting such information is a major part of information security. Gartner key metrics of data for 2010, found that companies spent an average of 5% of their IT budget on security and will reach $76.9 billion in 2015[1]. Every company has security controls and policies in place, however no one checks if they are followed rigorously. Likewise, new threats to information security which demand new procedures and tools are often overlooked. No matter how strong the information security policies and controls are a company won’t know the inadequacies, unless verified continually. An audit is carried out in connection with a financial statements and performance audit to evaluate compliance to applicable policies and laws. A report released by Maryland Department of Legislative Audits on Dec. 4, 2014 stated that an audit performed at University of Maryland’s Division helped in preventing a data breach. This can be achieved by internal auditing with a goal toShow MoreRelatedEffects of User’s Perceived Security on their Usage of Online Banking and e-Payment Facilities912 Words   |  4 Pagesday banking and similar financial transactions through the digital medium have positively affected the live of many due to the derived benefits such convenience to complete financial transactions at their leisure. 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Because no information system is bulletproof, nor is there any way to ensure complete safety while using any type of electronic device it is essential to practice vigilance at all times. Viruses, Trojans, worms, and other mal icious tools are used daily by hackers at an attempt to compromise sensitive data and integrity of information systems. WithoutRead MoreThe Internet And Its Effects On The Environment1538 Words   |  7 Pagesto exchange ideas, services, or friendship. The development of technology and information systems has brought numerous advantages in various sectors of life including government, industry, banking, commerce, and so on. Consequently, there is a growing dependency on the utilization of the information technology. Canada along with the other developed countries has increasingly relying on internet services and information systems for multiple purposes. 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The internet is the most remarkable development which grew from a few hundred website in the 90s to several millions at the end of last decade. Easy access to media and cyberspace has eliminated the control of nation-states over information flow across borders and within their own

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