Order Now
whatsapp
sample banner

126 Downloads

Topic

Exploring the activities of monitoring and controlling of risk in the organizations regarding of the information security

Introduction

It is well known facts that information system is a life blood for every organization specially the audit firms. No matter how large or small the company is but the information security is must and should to ensure the security of the information assets inside the company. Due to the raising demands and competition the audit firms are surrounded by multiple threats and risk. It is very essential to have special programs for providing security, handling risk, monitoring security mechanism etc. In this process the technology plays a key role in handling all those activities and resulting in the confidentiality, integrity and availability of the data to the customer’s perception.

As in previous two assignments we have gone through the risk and threats identification regarding of the information security system in E& Y Company and somewhat strategies followed by the company to handle different types of security issues. But this part of the assignment helps in providing in-depth knowledge of the security programs handled by the E&Y in which controlling risk, protection mechanism done by using advance technology like software and internets will be considered. It also focuses on the E&Y Company’s law and ethics, personnel involved in the process in order to give clear image of the information security system of the company.

Aim & objective of the research

The research aims to conduct in-depth analysis on the information security system in the E&Y Company. In regards of this aim the following are objectives set by me.

Literature Review

Security Program of E&Y

A security program is the framework designed by the company to keep the desired security levels by controlling the risk, doing various mechanisms for providing protection to the information assets. Finally this program ensures to update the security practices and ethical practices involved in the organization in order to provide integrated information security system.

Risk Management in regards of Information Security System

Risk assessing, controlling and monitoring are the important activities done in the risk management process. The main aim of the risk management is to identify the vulnerabilities of the organization’s information systems and taking proper actions to assure the confidentiality, integrity and availability of all components internally and externally to the organization (Enisa.europa.eu, 2015).

Before moving in to the topic of the risk controlling it is essential to know the issues arise in the company during the handling of the information. This will enables us to know the whistling elements which alert more towards the controlling of risk through various strategies. This is perhaps the important stage in the risk management because it might make you think and enables to take decision regarding the risk controlling measures to be taken so that the issues of threat will be minimized. The risks related to the information E& Y Company are basically been categorized as follows:

As E&Y Company is providing the services to many client companies in respective to the taxation and auditing, advisory services, and financial services so it has to engaged with maintaining multiple information of the company. There are various types of threats can be occurred in the organization. This includes the physical loss of the data due to the electric power, disk failure, and some other natural disasters (Ey.com, 2015). The information can be threatened due to the unauthorized access to the own data and client or customer’s data. As the company possesses different company’s confidential data so the possibilities of the threats are also high. There are also some type of risk occurs while transferring the data through internets, intranets, physical transferring to other locations etc. About the information in the electronic system it might be corrupted by intentionally but he external parties who get benefited. They might be using the key stroke loggers or Trojan horses software’s on PC’s to acquire the rival party’s data and take advantage of those data. There are some more mistakes held as a part of the security issues like employees in the organization has loose lips that sinks ships. This means the spreading of the passwords of useful information to the outsiders (Appliedtrust.com, 2015) so in order to avoid all those security mistakes that occur in the organization, E&Y has adopted the following risk controlling strategies.

4 BASIC STRATEGIES OF RISK CONTROLLING

The company E& Y has faced information security threats inside the organization then it found the competitive disadvantages can be occurred in the organization. In order to control of the risk the company takes helps of the information security communities and information technology through the usage of various software and hardware to control and protect the risk. Here are some basic strategies applied by the company E& Y:

Apply strategy for Avoidance of risk:

Based on the Apply strategy of the risk control; it enables to avoid the risk through the exploitation of the vulnerabilities. It is one of the preferred approaches followed by the company E& Y because prevention of risk is better than that of the eradication of the risk. It accomplishes in taking counteracts to the threats involved in the information system inside the company. Ex: It identifies the employee’s behavior to find out the threats causing persons, providing trainings and motivational program to make employees feel satisfied and work with loyal. This strategy also enables to remove the vulnerabilities inside the organization; it means the threat causing elements or person should be removed from the organization. Ex: Some viruses attacked systems should not use for maintaining the information which is confidential and sensitive (Google Books, 2015). For this special policies will be applied by the company like providing training and development, ethical strategies application, using of advance technology to avoid disrupt data.

Transference of risk:

It is of the risk controlling approach followed by most of the audit and finance companies in order to shift the risk to other assets, other process or other organizations. This process enables the organization to provide the security to those organizations which has threat to their information system, does not have the good security management inside the organization. For those companies this approach will be suitable in handling the issues regarding the security. Based on this concept the companies will hire the external personnel or companies to take the responsibilities of providing expertise security for the information which is in electronically or physically (Ey.com, 2015). Basically, E&Y Company is very good in handling the information securely so many of the companies are having trust to transfer their risk in form of information. But it does not tie up with any companies to transfer their risk.

Reduce the impact through Mitigation

Mitigation strategy applied by the organization tends to reduce the impact of the exploitation through planning and preparing. According to this strategy there are three types of plans can be undertaken by the company i.e. Disaster recovery planning (DRP), Business continuity planning (BCP) and incident response planning (IRP). For long term risk handling the BCP will be suitable to the company. This action will be taken by the company while the incidence of threat is in progress. In order to use the control of the DRP it crucial to determine the level risk involved in the company, assess the probability of the risk, estimating the potential damage that could occur from attacks and taking the account of feasibility of other controls.

The DRP plan enables to recovery of the lost data, reestablishments of lost services etc. Ex: The corruption of the data can be back up by some software. The disruption of the physical data found can be mitigated by appointing trusted employees and security personnel on each level of the organization. The IRP strategy enables to analyze the information, gathering of the intellectual data in order identify the threats and take proper action accordingly. The advantage of outsourcing the company enables the company to concentrate on the own business strategy. The disadvantages of the strategy are the expensive services and need to have legal contracts to greater services and recovery (Google Books, 2015). The following of these strategies enables to protect the currently available data or assets by appointing extra personnel for providing information security personnel.

Different categories of risk control in E&Y Company

There are different types of risk control functions adopted by the company, based on the different levels of risk these are follows:

As per the analysis the company E&Y are presently implementing all the above categories of risk controls in the organization.

Personnel & Security at E&Y

The company E& Y has a good framework for the efficient security system for confidential information. It leverages the security system by taking the help of the technology and also the human personnel. There are some special personnel employed for the organization to monitor and control the risk of handling information, it also engaged with using some PRT monitor software to assure the security of the information which is the form of the electron.

In the process of enabling the mechanism of the protecting the information the special committee was being appointed namely the security committee. This committee has been headed by the chief security officer. Under this authority there are two branches involved in it , i.e. information security manager and local security committees are present. The main role of the information security managers involves in making policies and providing some security against the threats of the rival parties. In this process he maintains the security technology to assess the security system in the organization by much software includes the PRTG software of monetary control of the information system (Ey.com, 2015)

Beyond that there are many security personnel involved in the security committee of the organization which includes security analyst who assures the policies and requirements of the organization in order to meet the functions of the organizations. He also enables to apply new process and technology to the organization. He is also responsible for designing and implementing new security technology in the organization.

The local security committees present in the organization responsible for directing the employees. The committee engages with handling the local security issues and provides the full fledged information system in the organization (Ey.com, 2015).

PRT Network monitoring

PRTG Software Used by Security administrators of the E&Y security committee. This software really works as a tool for implementing a protection mechanism to the electronically information present in the organization. There are many benefits of using this tool by the E&Y. Company; this will be discussed in the next section:

Laws & Ethics

As we know the security plays a big role in any audit or financial firms which is running with various E-commerce and internet. As the technology grows the evils in business also increasing in a drastic manner so the following discussion will be made various issues faced by the legal system in maintaining the updated technology and few laws will be discussed in regards of the computer crimes in the UK. There are various laws followed by the E&Y Company in regards to the information security system. The employees appointed for the security purpose must have the global information assurance certificate or any other certificate has the ISO standard of 27001:2005. Based on this law the employees must fight for the information security principles toward accessing and controlling the risk of the information security system in an organization (SearchSecurity, 2015). Beyond that there are many other laws related to the data accountability and Trust and cyber security information sharing act are there which helps in protecting the confidentiality of the information.

An ethic is policies or standards that guide the human behavior in respective to the activities and decides what is wrong and what is written in an organization. Every company should follow the ISSA code of ethics in order to protect the information in the organization. Laws and ethics are correlated to each other without ethics the laws cannot be forced on any individual in the organization. As the internet began the started the issues and crimes related to that also began. So the growing technology is advantageous to the society, business, but at the same time it has the risk of that level. If the user forgets to follow the ethics and cause harm to many organizations in the way of causing theft of the useful information, blackmailing the people for gaining money in illegal ways etc (Sans.org, 2015). Such situation the laws of the information security will be helping the individuals.

Draw backs & Suggestions

From the analysis of the issue regarding to the information security and risk, protecting and monitoring it is clear that the decision of adopting new PRGT software is benefited to the organization. As every object has two sides advantages and disadvantages. So it is essential to take the pros and omit the disadvantages of the object. In this process the following are the disadvantages which have to be considered while adopting the PRTG software.

Conclusion

As far from this analysis, it has been addressed that the information security system is essential for any organization which are maintaining the sensitive data. Maintaining the information security system , it requires a specific security committee to be appointed and policies and procedures, law and ethics to be concerned as the part of the risk control in the information system. It is suggested to use the PRTG software for the company which is engaged with many sensitive information in order to monitor and control the risk incurred in the process. 

Download Full Sample Here
HIRE EXPERT
Email ID *
Subject
Pages
Deadline