Reference no: EM131209347

Accounting Question:

Recent news stories have clearly established that there are increasing instances of cyber-crime that are plaguing major corporations and financial institutions. These crimes have taken many forms, such as:

• External parties infiltrating corporate IT systems to steal customer information
• Unauthorized parties stealing and using patents and other protected information
• Corporate management falsifying documents and altering internal systems to steal funds from both corporations and customers
• Internal corporate fraudsters establishing inappropriate processes to obtain vital information.

Each of these events caused the financial statements of the affected corporations to change in multiple ways, providing evidence that fraudulent activities may have occurred. What methods (or process) should these corporations establish to identify potential cyber-crime concerns? Please cite examples of corporations that have taken additional steps. Include proper APA citation and reference list as part of your posting.