Using MIS (10th Edition)
Using MIS (10th Edition)
10th Edition
ISBN: 9780134606996
Author: David M. Kroenke, Randall J. Boyle
Publisher: PEARSON
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Chapter 6, Problem 6.19CS6

Explanation of Solution

FinQloud system:

FinQloud is established as a cloud storage system, developed to meet the terms and regulations of the SEC’s rulings.

  • When data is stored in FinQloud system, then FinQloud process the data by which it cannot be altered or encrypted again. Because data is indexed in Simple Storage Service (S3) devices.
  • Hence the data can be read only by an authorized user.

The SEC rules and its 2003 interpretation:

The Securities and Exchange Commission (SEC) had taken the rule to enable a storage mechanism which includes software’s that prevent data from alterations...

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Students have asked these similar questions
1. The estimates of losses annually due to computer fraud vary widely. Why do you think obtaining a good estimate of this figure is difficult? 2. Explain at least three forms of computer fraud.
Provide some scenarios in which a company may use IT to conceal financial wrongdoing from an auditing firm, and some ways in which that firm can mitigate those risks.
When does the responsibility for protecting a company's data begin and end? When do security policies and procedures begin to have an effect in a given company, and when do they end? Is it possible, in your opinion, to increase these bounds?
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