Management Today - Spring 2016 - 8


mt // FINANCE & ACCOUNTING

THE

Spring 2016

front

// Accountants play a huge role in making
sure assets are secure, and potential security
breaches are impacting the scope of auditors.

TAKING CHARGE
Who is responsible for keeping sensitive data secure?
- By Paul Franklin and Linda Leatherbury

Clients' social security numbers,
addresses and telephone numbers are
examples of sensitive data that corporations must protect and keep private.
International transactions, as well as
current and future development plans,
may also contain sensitive data.
Who is responsible for keeping this
data secure and out of the wrong hands?
What role does the accountant play in
assuring that this data remains secure?

8

MANAGEMENTTODAY-MAGAZINE.COM SPRING 2016

These are very important concerns
for a firm. Accordingly, companies are
hiring firms to assure that this type of
data remains secure. Who is ultimately responsible for a security failure?
Security breaches within well-known
firms, such as Sony Motion Pictures
and Target Inc., have been in the news
and the resulting loss of customer
confidence is difficult, if not impossible, to measure. This article will

explore the role the firm's accountants
play in assuring that its assets are
secure. In addition, it will explore how
these potential security breaches are
impacting the role and scope of the
firm's auditors.
Enterprise Risk Management
A common contemporary management
technique, studied in many graduate
courses, is Enterprise Risk Management
(ERM). ERM is a technique that focuses on obtaining a firm's objectives by
examining the entire spectrum of risk to
a firm and the possible impact of those
risks upon the firm's finances.
The risk of a data breach to a firm
may result in the potential risk of a
lawsuit, as well as client loss. To combat


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Table of Contents for the Digital Edition of Management Today - Spring 2016

Contents
Management Today - Spring 2016 - Cover1
Management Today - Spring 2016 - Cover2
Management Today - Spring 2016 - 1
Management Today - Spring 2016 - Contents
Management Today - Spring 2016 - 3
Management Today - Spring 2016 - 4
Management Today - Spring 2016 - 5
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Management Today - Spring 2016 - Cover3
Management Today - Spring 2016 - Cover4
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