INF2004F Summary Notes.docx

Develop a response to assessed risk more

Info icon This preview shows pages 11–14. Sign up to view the full content.

View Full Document Right Arrow Icon
Develop a response to assessed risk More comprehensive, likely to be used and adopted more IT Governance As a result of IT risks and fraudulent practice Concerned about: Value delivery of IT to the business; AND Mitigation of IT risks Involve: Strategic IT alignment – IT and business objectives must align Value delivery – create value to users Risk management – mitigate IT risks Performance management – able to measure performance Resource management – IT resources
Image of page 11

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
COBIT 5- Control objectives for information related technology- started as auditor control and now focus on enterprise governance of IT Objective setting: Strategic objectives- high level goals Operations objectives- effectiveness (impact) and efficiency (cost saving) of operations Reporting objectives- improve decision making and monitor performance Compliance objectives- compliance with applicable laws and regulations Risk governance: Risk is the potential that a chosen action/activity (including the choice of inaction) will lead to a loss/undesired outcome Good IT risk management – cannot be achieved without strong risk governance Policies, controls and operational guidelines on how to manage risks Components: Responsibilities and accountability for mitigation of IT risks Risk culture – culture where risks are aware, reported and prevented Awareness and communication Risk profile –profile will outline number, type and potential effects of risks- threats to which organisation is exposed- can also be defined as market space in which organisation operates Risk capacity – amount of risk that organisation is able to support Risk appetite – amount of risk that organisation is willing to accept Risk tolerance – amount of risk that organisation wants to have Segregation of Duties: Not good for one employee to have too much responsibility Segregation of duties – prevent fraud Three functions that need to be segregated: Custodial function – cash and assets Recording function – preparing source documents, entering data into system, maintaining data files etc. Authorising function – approving transactions and decisions Module 6: Control for Information Security [chapter 8] Trust services framework (security, confidentiality, privacy, availability and processing integrity) TSF – Trust Services Framework – ensures reliability & controls security Based on five principles: Security – access to data and system - controlled and restricted to legitimate users only Confidentiality – sensitive data is protected Privacy – personal information protected (trading partners, investors, employees) Processing integrity – process data completely, accurately, timely and with proper authorisation Availability – system and information are available Security life cycle 1. Assess threats & determine how to respond – reduce, accept, share, avoid
Image of page 12
2. Develop and communicate security policies – e.g.) employees shall not click on any
Image of page 13

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 14
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern