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ICAS - ABS > Module 8 > Flashcards

Module 8 Flashcards

1
Q

Separate systems

A

Wholly separate IT systems. Integration of information only occurs through transfers initiated by staff of information from one stand-alone system to another

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2
Q

Enterprise systems

A

Systems from across different areas of a business that are connected to a central data system, which can be accessed across the business for a variety of purposes and activities

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3
Q

Straight through processing

A

Removes the need for human intervention - the entire system is fully automated. Human intervention only occurs when exceptions must be managed

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4
Q

IT controls should be designed so that they are

A

Tailored to the level of risk of the business

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5
Q

Remit of IT department (5)

A
  • Develop IT strategy
  • Develop and communicate IT policy
  • Develop procedures to address controls
  • Specify scope of activites
  • Monitor activities and IT controls
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6
Q

In order to achieve effectiveness and efficiency through IT, businesses should (2)

A
  • Perform regular assessments of infrastructure, applications, and user requirements
  • Monitor both internal and external service provider activities
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7
Q

Four steps for developing an IT strategic plan

A

1) Identify the starting position of IT within the org
2) Identify ideal IT systems to support bus in achieving objectives
3) Analyse the gaps between current and ideal IT environment
4) Build the systems project plan

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8
Q

Control Objectives for Information and Related Technology (COBIT)

A

Framework providing set of generally accepted measures, indicators, processes and best practices to assist in the use of IT

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9
Q

Four key areas ITGCs commonly cover (acronym)

A

APOC

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10
Q

A >

A

Access to programs and data

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11
Q

P >

A

Program changes and development

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12
Q

O >

A

Computer operations

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13
Q

C >

A

Continuity of operations

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14
Q

IT General Controls (ITGCs)

A

Provide the foundation to the control activities over processing

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15
Q

IT Application Controls (ITACs)

A

Automated procedures that typically operate at a transaction level and are designed to ensure the integrity of the data. These controls ensure that only information that is authorised, accurate and complete will be processed

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16
Q

Master file data

A

Presents risks that must be addressed through both strong ITGCs and ITACs

17
Q

Master files

A

Contain data which may affect more than one processing cycle

18
Q

Master file change controls (7)

A
  • All changes should be recorded on change request form
  • Changes should be authorised appropriately
  • Records of before and after should be kept and reviewed
  • Segregation of duties
  • Audit log should be generated
  • Batch controls used for making numerous changes
  • Complete listing of the data should be reviewed in detail periodically
19
Q

Program changes (2)

A
  • Bug fixes

- Version upgrades

20
Q

In order to ensure changes and developments are appropriate, must consider: (4)

A
  • Authorisation
  • Development
  • Testing
  • Approval
21
Q

Changes should be made in what environment

A

Separate test environment (NOT live environment)

22
Q

Actions to be taken to mitigate risks from program changes (4)

A
  • Migration to production environment
  • Configuration changes
  • Emergency changes
  • Production development
23
Q

Project management general controls (5)

A
  • Initiation
  • Planning the project
  • Risk management approach
  • Execution
  • Completion
24
Q

Systems development life cycle (SDLC)

A

Process to introduce, develop, maintain and enhance software

25
Q

SDLC Stage 1

A

Business Analysis

26
Q

SDLC Stage 2

A

Feasibility Study

27
Q

SDLC Stage 3

A

Systems analysis

28
Q

SDLC Stage 4

A

Design

29
Q

SDLC Stage 5

A

Development

30
Q

SDLC Stage 6

A

Testing

31
Q

SDLC Stage 7

A

Implementation

32
Q

SDLC Stage 8

A

Maintenance

33
Q

SDLC Stage 9

A

Post-implementation review

34
Q

SDLC Stage 10

A

Enhancements/ wish list

35
Q

Four methods of implementation`

A
  • Parallel
  • Direct
  • Phased
  • Pilot
36
Q

Continuity of operations

A

Key objective of any company is the ability to carry on trading after a disaster

37
Q

Server back up options (5)

A
  • Switch server to another in-house facility
  • Cloud computing
  • Mutual aid pact
  • Cold site (crate and ship)
  • Hot site
38
Q

Testing the disaster recovery plan

A

Dress rehearsal should be performed (like a fire drill) to ensure employees are familiar with the process

39
Q

Key features of an IT strategy (6)

A
  • Introduction
  • Business/ IT linkage
  • Assessment of current situation
  • Demand side architecture
  • Supply side architecture
  • Strategic plan

ICAS - ABS (21 decks)

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