Hybrid framework standards for use within a business.

DO NOT COPY WORK THIS MUST BE ORIGINAL!

CIS 349

PART 1:

1-2 PARAGRAPHS ONLY

“Using a Hybrid Framework”

· Often, it is necessary to develop a hybrid framework of standards for use within a business. Identify the individual(s) within the company that should be involved in the decision-making process. Justify your choices.

· Describe how the use of a unique set of standards might impact the auditing process.

PART 2:

1-2 PARAGRAPHS ONLY

RESPOND TO A STUDENT POST (PICK 1):

1. Henok,

Hi Class ! Welcome to week 3 discussion !!

Within a company, the following are involved in the decision-making process:

i). Shareholders – These are the owners. They vote their shares to elect the directors

ii). Directors – They elect officers including the CEO

iii). Officers – control the corporation’s day-to-day decision making

iv). Employees – This is because they focus more of their energy on future-oriented problem solving rather than current problems.

Though, most of the decisions are made directly by officers, the directors, shareholders and employees also make the decisions indirectly.

 

The use of a unique set of standards might impact the auditing process because it will influence the following sectors of accounting segments:

i). Planning

ii). Comprehension of internal controls

iii). GAAP, consistency

iv). Opinion

2. Carlos,

When identifying the individuals within companies that should be involved in the decision-making process some of the things that I think are important to keep in mind are.

1. Listing Possible Solutions/Options.

2. Setting a Time Scale and Deciding Who is Responsible for the Decision.

3. Information Gathering.

4.  Weighing up the Risks Involved.

5. Deciding on Values.

6. Weighing up the Pros and Cons.

7. Making the Decision.

The use of unique standards will improve the auditing process because systems will be better organize and the company should be working smoothly if all standards are being follow and everyone is on the same page. Also ome of the steps to keep in mind while conducting audits are.

1. Establish priority areas.

2. Identify audit rules.

3. Determine process frequency.

4. Configure parameters and execute.

5. Manage results and follow up.

6. Report results.

7. Assess emerging risk and add to register.

3. Venyke,

Hello everyone,

When developing a hybrid framework standards for a business use, there are a lot of important people that need to be involved in the decision making process. Some of those individuals are board of directors, senior management, audit committee, IT leadership, chief information officer, security management and security operations. All of theses individuals are important because of the role that play to making the correct decision in building a hybrid framework standards. Board of directors, senior management are considered the highest level of the personnel that is needed. These three are primarily what the framework targets. The IT leadership and information officers are primary involved in the in the risk management process because they help determine how controls are made. security management and security operations should operate to come up with all things that are suitable for IT. The use of a unique set of standards might impact the auditing process in a positive way. When using these standards you can make sure that you can meet all of the auditors requirements.

When developing a hybrid framework standards for a business use, there are a lot of important people that need to be involved in the decision making process. Some of those individuals are board of directors, senior management, audit committee, IT leadership, chief information officer, security management and security operations. All of theses individuals are important because of the role that play to making the correct decision in building a hybrid framework standards. Board of directors, senior management are considered the highest level of the personnel that is needed. These three are primarily what the framework targets. The IT leadership and information officers are primary involved in the in the risk management process because they help determine how controls are made. security management and security operations should operate to come up with all things that are suitable for IT. The use of a unique set of standards might impact the auditing process in a positive way. When using these standards you can make sure that you can meet all of the auditors requirements.

4. Mohammad,

Professor/Class,

Then need for integrated or hybrid audits was spurned by Sarbanes-Oxley, which in turn established Public Company Accounting Oversight Board (PCAOB). The PCAOB oversees and audits financial statements for publicly traded companies. Since the question is regarding who is involved, I would say, Stakeholders, Program Manager, Resource Manager, Sponsors and Directors.

The unique set of standards are chosen in order to a apply the appropriate frameworks, where mapping controls to business processes and IT processes, the complexity of the organization will play an important role in the risk assessment and determination of the necessary procedures.

-Hisham