BACKGROUND
According to the audit plan approved by GARC for 2016, an internal audit was undertaken of the IT function in Auckland in April 2016.
For KVB Group, most of the IT services are delegated to BancLogix System Co. Limited in Hong Kong, a fully-owned subsidiary of KVB Kunlun Holdings Limited. BancLogix provides both IT operations and application development services for the whole KVB Group. A small IT operation team is based in KVB Kunlun International (HK) Limited to provide an infrastructure level and partial application level support to the listed company and its subsidiaries. There are two on-site IT support staff based in Auckland, who support both KVB Kunlun New Zealand Limited and KVB FX Limited. They report functionally to the IT operation team under the listed and non-listed companies in Hong Kong. There is also one IT developer based in Auckland reports to the development team in Hong Kong.
Different from Group’s IT function in Hong Kong, IT operations in New Zealand had not regularly reviewed by the external auditor PricewaterhouseCoopers as part of their annual Financial audit for KVB New Zealand companies. However, New Zealand management engaged a local IT vendor, Spark Digital to review the KVB IT New Zealand infrastructure in June 2015. Spark’s audit report highlighted the aging IT infrastructure along with a general lack of maintenance as a critical risk to KVB’s business. After that, a “Top Down” replacement approach was proposed by New Zealand management in the “NZ IT Operations enhancement plan” in July 2015 to define and implement a new Information Technology strategy. RFP had been conducted and finally ICONZ had been selected as IT partner to implement this improvement exercise. IT infrastructure and...
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...to meet its requirements under the group IT blueprint, stronger internal or external IT resources need to be appointed to support this improvement exercise.
As mentioned in Spark’s report and Group IT Hong Kong’s IA report, the current Auckland Disaster Recovery site for ForexStar is dysfunctional and lack of switch over testing. Although it is rather than only local IT’s responsibility, management should still pay attention since this is a requirement for FMA licensing application.
Among a number of issues that need to be addressed, prioritised actions are required to improve the network security, clean up and make an accurate inventory of company IT asset which could be a basis for better access control and system maintenance.
Works are also required in relation to service level management with suppliers as well as strengthen the physical security of IT assets.
The case describes the evolution of IT management at the MNC during the period from 2006. At that time IT governance and the IT function itself were undergoing a complete transformation. The case follows the Vice President of Corporate Information Technology from the time of his arrival at Alcan: his observations on the current state of IT management his appointment to the position of Chief Information Officer and the development of his new strategic plan for IT management. The case presents the main features and challenges of IT management at Alcan up until the middle of 2006. The case reflects on the characteristics implications and challenges represented by IT management in a large global organization.
According to the article authored by Mark Rupert, what are the seven best practices in the roles and responsibilities of an internal audit function?
... they will ensure that every individual who is hired trained in scientific methods and consistent. Then, with the expertise and skills they will be able to do their jobs well. Lack of staff who is experts in the field of IT in an organization will be able to be solved through IT outsourcing.
The NIPP-2013 critical infrastructure risk management is applicable to an asset, system, network, or even functional basis. If the CI operator is largely dependent on fixed assets and physical facilities, an asset by asset approach may be suitable. This would be a bottom-up approach. Sectors such as communications, IT, food and agriculture should use a top-down or business continuity approach where the interdependencies are critical and are identified and dealt with in an effective manner. In CI environment risk management approach includes activities such as setting goals and objectives, detail identification of assets, systems, networks, and interdependencies, risk analysis along with direct and indirect consequences, risk management to control, accept, transfer, or avoid risks (which take into account prevention, protection, mitigation, response, and recovery), and lastly, measuring effectiveness. Interwoven in these steps are considerations for resiliency, the physical, cyber, and human elements of
The purpose of internal auditing and the professionals who provide internal auditing services according to the definition created by the Institute of Internal Auditors is to provide “an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.” Several guidelines and processes have been created to aid an internal auditor in providing the objective, value adding services they’re supposed to. The International Professional Practice Framework is the compass that provides internal auditors
Development metrics are used to measure the functioning in the maturation of the IT projects. A service metrics are used to evaluate the success of the repetitive IT services. IT governance is a subset of business creation, mainly focuses on information and technology in performance and risk management. In this business world, several IT governance may definitely focus on the managing of the performance and creating the value. The focus is mainly related to “specifying the decision rights according to the accounting framework that encourages the desirable behavior in the use of IT” (Wood, 2011).
The information technologies department is improving itself by integrating the newest solution for customer relationship management (CRM). The hardware replacement project (HRP) for this addition includes five major variables. These variables are time, costs, scope, quality, and risk. Many thoughts are worth considering and taking into account when choosing the best projects, and they are important to have the most worthwhile final results for the business. The issues that affect project risks need to be discussed, and I can recommend ways to carry out this project with the minimum of necessary risk. Altogether, I will outline the best way to prepare for and supervise the HRP.
With so many consulting firms offering services tailored to your business it seems it may take more time to decide on one company than it would for them to formulate a proposal. The decision is difficult because each one promises to devise a strategy that will take your company to the top of whatever industry you are in. These companies promise to save time, money and headaches. And offer services from data storage solutions to virus protection to vow to streamline your infrastructure. Two companies were reviewed for this essay: Accenture and EDUTECH consultations services. Regardless of what the websites say, one must be wary of over promising. Whatever company is chosen, get references and feedback from other customers to ensure your money is not going to waste.
2 vertical audits are done yearly.The aduit is taken from the INAB ISO15189 so the audit is used to achieve the standard of the ISO 15189 INAB.
The process by which something is examined with a view to an opinion being formed. The definition most widely practiced within the profession is that put forward by the APB- ‘independent examination and expression of opinion’. This allows others to gain assurance that any information or a process can be trusted.
Corporate Networks in organisations can be complex structures that “requires a great deal of attention” (Clemm 2007). Even small companies can have quite complex networks that are a considerable investment to the business. The notion that corporate network management is a cost to a business rather than a continual beneficial investment is a naive assumption that requires further investigation to the benefits that network management brings. Clemm (Clemm 2007) states in his text that the ultimate goal of network management “is to reduce and minimize total cost of ownership”, improving operational efficiency and lowering cost. Clemm (Clemm 2007) also notes that “Network Management is not just related to cost and quality”, which will be an continual concept presented throughout the report. The report will address key issues with corporate network management and ultimately argue and justify that corporate network management must be seen as a positive benefit to the business and not as a continual expense. The supporting articles will also provide sound evidence that networking is crucial to a business’s processes and production which can be seen from the OpenSSL Heartbleed Security vulnerability fiasco (Nieva 2014) or the QANTAS Amadeus system failure (Heasley 2012).
The first thing that we must consider about Information Security is that there is not a final destination at which we can arrive. IT Security is an ongoing set of processes and activities that requires attention and expertise on a daily basis. It is important to understand that systems are not secured by themselves and it is our responsibility to maintain and improve them periodically as required. It is of vital importance to establish the appropriate mechanisms and requirements in order to support the company’s CIA triad. The following report will provide you guidance about auditing and hardening techniques applied though the 7 Domains by utilizing IT Security Best Practices.
In the world of Information Technology, Support Specialists work with a wide variety of customers. Many of our customers' are unfamiliar with the computer and how to troubleshoot issues specific to their software. By providing customers’ with documented tutorials and training sessions, known as in-services, it will help decrease confusion, increase their comfort level, assist in providing more accurate information and educate them on department software and basic computer knowledge.
... order to make employees daily work better and full of will to work with other people.