The report supplies basic understanding of " protecting assets” and explain how can MYOB can assist Mark company achieves the definition of. Following the report will address inner & exterior threats associated with a small business intended for Mark – owner of Dive for Fun Pty Ltd – and giving suggested solutions for every threat.
Moreover, advice will be built and completely explained to get Mark to stop threats based upon the organization current ability.
II. What is " Safeguarding assets” means & how to achieve this with MYOB?
Barron's Educational Series, Inc. (Eds 2005) defined the term " safeguarding assets” while follow: " Protecting the firm's property through a good internal control system. The objective is to protect against loss in assets due to theft, unintentional destruction, and errors. Confidence must can be found that ventures related to possessions have been effectively processed which appropriate physical handling and control above assets exist. ”
MYOB is a computerised accounting system in which it gives you users with an exclusive modern integrated accounting package to get relevant duties of an accountant such as accounting, preparing economic statements, etc . (Neish & Kahwati 2011).
Therefore , it is a great tool to secure the business assets since it designed with safety passwords, managers or owners can arranged the specified limit for all personnel so that internal controls may be improved and hardly ever breached. MYOB notifies users with notifications and can block unauthorised or fake actions due to the users. It is not only prevent false entries by giving linked accounts, showing traditional transactions, beginning, closing & current amounts but also back up every one of the data in case there are any unpredicted destructions.
3. Internal threats
Internal hazards are often result from people inside the organisation such as employees, managers and in several certain situations, even the owners. The reasons for anyone people to jeopardize their own organization might be a lot of (Winmark Corporation 2013). It might be the employees refused promotion or announced being terminating via employment period; or non permanent employees who want to use cultural engineering expertise to obtain inside information for his or her own pursuits.
Cory Janssen (Eds 2013) Techopedia describes " cyber-attacks” as " A cyber-attack is strategic exploitation of computer systems, technology-dependent enterprises and networks. Cyber-attacks use malevolent code to vary computer code, logic or data, causing disruptive consequences that can bargain data and lead to cybercrimes, such as info and identity theft. Cyber-attack is also known as a computer network attack (CNA). ”
According to Sally Cut (2008), it seems like to be made an appearance that normally people whose privileged program access, just like system administrators or THAT staff, are responsible for this sort of threats.
The specific situation can be resulted from bad rewards toward the employees or perhaps weakness of internal control of those who are very likely to abuse their power. For example , Roger Duronio who was a great IT developer of Purchase Bank UBS had selected and planted a malware in UBS's network resulted in a 3$ million damage expense (Sally Cut 2008).
To be able to prevent these kinds of situations addressed as over, every firms need to pay attention to disgruntled workers, supervise these people closely and being alert so that these employees have no a chance to misuse their location. Moreover, changing passwords and forbid access of those who had left the firm, by doing this they can't access the information program remotely. 2)Social engineering
This is actually the most common approach as no one need to install or make malware like the above level because the security passwords can be extracted from dialogue tools including telephone or perhaps email (Sally Whittle 2008).
It is going on more often and getting more sophisticated which in turn mean tougher to investigate and charge " guilty” for...
References: Barron 's Educational Series, Inc. (eds) june 2006, Dictionary of Accounting Terms, viewed 15th April 2013,
Carbonilla System Incorporation. 2006, Top Five Security Concerns for Small , and Medium-Sized Businesses, Cisco Program Inc., looked at 15th 04 2013,
‘Guarding against external threats of scams to your company 2012, Bizfilings, 24th Might, viewed fifteenth April 2013,
Janssen, C (eds) 2013, Technology Terms, viewed 15th 04 2013,
Neish, WJ & Kahwati, G 2011, Computer Accounting Using MYOB Business Software program, 13th edn, McGrawHill, Sydney
Whittle, S 2008, ‘The top five internal security threats', zdnet, CBS Interactive, tenth March, seen 15th 04 2013, < http://www.zdnet.com/the-top-five-internal-security-threats-3039363097/>
Winmark Corporation 2013, ‘Internal Threats -- Worker (Occupational) Frauds', Amazon. com, viewed 15th April 2013, < http://www.wbsonline.com/resources/internal-threats-employee-occupational-frauds/>