Sox Act And Business Security Essay

Length: 3 pages Sources: 1+ Subject: Business Type: Essay Paper: #92946618 Related Topics: Publicly Traded Company, Firewalls, Internal Control, Surveillance
Excerpt from Essay :

SOX Act & Financial Data Security

Business Security

Breach of security is the worst thing that can happen to a business. Such breach can be an actual break-in, employee fraud or theft, internet hackers and theft of vital business information. Breach of security of any one type can lead to financial losses as well as loosing market leverage. Hence it is appropriate that business take adequate security measures in all the above mentioned aspects (Coombs, 2008).

Installing and implementing adequate security systems is a must of any business. there are various types of business security systems. The company security system depends on the number of employees, the sensitivity of the information stored and the belief on the loyalty of the employees.

To prevent actual break-ins and thefts, business should install surveillance systems and ensure proper monitoring of the same through live video footage. This is the most common way of securing physical theft and break-ins. Adequate locking systems equipped with proper coding for opening of the locks is necessary.

In general, video surveillance can be installed in areas where valuable materials are stored, cash registers or safes and areas where important documents are stored in the physical form.

To ensure better security in this regard,

...

Employees would be required to punch in a code on a keypad or swipe a card in order to get into the building or a specific area of the building.

For internet security and security of electronically stored business information, companies need to have user policies and IT policies to ensure safety. User policy is limited to the employees who use or have access to the information systems and the networks. Such user security policies would define what users can and must do to get access to and after getting into the company network. Such policies should include password policies to keep accounts safe, propriety of use of company information, use of the internet and the information system of the company and security against viruses from possible slackness of users (Campbell, n.d.).

Every company, big or small, also needs to have adequate IT security policies. This refers to the security measures that the It department of the company should ensure to prevent internet hacking by outsiders. For this security, the company should install virus detection and alerting systems in the network, make adequate measures to create a back up for the electronically stored information and define and detail directions about what to back up, who backs it up and where the backup information is to be stored, adequate firewall policies and measures and…

Sources Used in Documents:

References

Campbell, G. The manager's handbook for business security.

Coombs, W. (2008). PSI handbook of business security. Westport, Conn.: Praeger Security International.

Foster, B., Ornstein, W., & Shastri, T. (2007). Audit costs, material weaknesses under SOX Section 404. Managerial Auditing Journal, 22(7), 661-673. doi:10.1108/02686900710772573

Li, C., & Wang, Q. SOX 4O4 Assessments and Financial Reporting Errors. SSRN Electronic Journal. doi:10.2139/ssrn.926180


Cite this Document:

"Sox Act And Business Security" (2015, July 23) Retrieved January 17, 2022, from
https://www.paperdue.com/essay/sox-act-and-business-security-2152101

"Sox Act And Business Security" 23 July 2015. Web.17 January. 2022. <
https://www.paperdue.com/essay/sox-act-and-business-security-2152101>

"Sox Act And Business Security", 23 July 2015, Accessed.17 January. 2022,
https://www.paperdue.com/essay/sox-act-and-business-security-2152101

Related Documents
SOX Act Slows Down Financing
Words: 921 Length: 3 Pages Topic: Economics Paper #: 76202129

SOX Impact on Corporate Financial Reporting The Sarbanes-Oxley Act of 2002 (SOX) led to widespread changes in how governance, risk, compliance, financial reporting and decision-making are managed in publically-held coproratio9ns today. Experts in the field of governance and compliance have concluded that the SOX Act immediately redefined the scope of financial reporting and risk definition (Hagerty, 2006). This was especially prevalent in the bond markets, where forcing greater disclosure of financial

Security Information Security and Risk Management in
Words: 1322 Length: 5 Pages Topic: Business - Management Paper #: 2883406

SECURITY Information Security and Risk Management in IT This essay is designed to present and discuss both an assessment of information security and risk management in IT systems and a comparative discussion of important academic theories related to security and risk. In the first section, An assessment, a conceptual framework will emerge including reference to important terminology and concepts as well as an outline of legislation and authorized usage examples. In the

Business Plan for a Market
Words: 1665 Length: 6 Pages Topic: Accounting Paper #: 83134472

This can be defined at the system level of the consultancy's network architecture. Finally the firewall of the systems will be defined also through the definition of system parameters throughout the network operating system running the entire firm (Malecki, 2012). There will be little resistance to change for each of these implementations as they are designed to protect and streamline the work being completed in the firm. There will

Business Plan Description of the Business the
Words: 2458 Length: 8 Pages Topic: Business Paper #: 59203893

Business Plan Description of the Business The business is a gourmet candy shop. The shop will sell gourmet candy that has been sourced from all over the world. The shop will operate with one storefront location, and there will be an Internet/mail order component as well. The rationale for the business is simply. There is a growing trend towards hedonistic approaches to dining. We have seen in the past few years the rise

Business Ethics Every Company Has Corporate Governance
Words: 2062 Length: 7 Pages Topic: Business Paper #: 61999328

Business Ethics Every company has corporate governance initiatives in place. Consider that corporate governance simply refers to how the company is run and controlled. The current usage of the buzzword derives from the issues that a few companies had where executives or managers were not subject to appropriate levels of governance. Thus, the guidelines issued recently by the OECD, the ASX, the Combined Code and in Sarbanes-Oxley serve to institutionalize stronger

Business Law When Most People Think of
Words: 1209 Length: 4 Pages Topic: Business Paper #: 82116395

Business Law When most people think of securities fraud and corporate misconduct, they will often associate Enron to these ideas. This is because it went from being the tenth largest company in America to one the biggest bankruptcies in U.S. history. On surface, everything appeared to be fine. Until it was disclosed, that the firm was running out of cash and the executive officers were unloading their stock. (Eichenwald, 2005) This raised