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A growing number of organizations are using cloud computing as a viable alternative for their IT resource needs. Cloud computing allows organizations to increase their ability to meet computing resource demands while avoiding significant investments in IT infrastructure, personnel, and software. While forecasts are for continued increases in demand for cloud computing, the benefits also bring a host of new risk considerations.
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) issued a thought paper, Enterprise Risk Management for Cloud Computing, to help organizations assess and mitigate risks arising from cloud computing. Visit the COSO Web site (www.coso.org). Read the thought paper to answer the following questions:
a. What is cloud computing?b. What are private clouds, community clouds, public clouds, and hybrid clouds?c. The paper identifies examples of risks associated with cloud computing. Describe each of the following risks:(1) Disruptive force(2) Lack of transparency(3) Vendor lockin and lack of application portability(4) Highvalue cyberattack targets
Examine the CPA profession and licensing requirements (Use New Jersey's please). Explain how a licensed CPA (as an outside auditor) could be of value to your company. Critique current auditing standards.
Consider a health care organization with which you are familiar with and explain the difference between cash and accrual accounting in health care setting. Be sure to include a discussion of the revenue recognition and matching principles.
The North Carolina Furniture Company (NCFC) manufactures upholstered furniture, which it sells to various small retailers in the Northeast and Midwest on credit terms of 2/10, net 60. The company currently does not grant credit to retailers with a..
1.Included in the December 31, 2013, inventory of the Wholeridge Supply Company are 2,600 deluxe ring binders in the amount of $5,902.
Stanley Printing Company began operation in March with three custom orders. The following costs were incurred during the month.
question 1. explain the role of the following three bodies in national health reform and the implementation of activity
Outline the major revisions to the auditing standards and discuss their implications for auditors conducting audits. (Approx 1,000 words essay response)
What are the standards or legislations that management and auditor complied with as according to directors' responsibility paragraph and auditor's responsibility paragraph in the audit report?
If the market rate of interest at time the bonds are sold is 8%, what will be the issuance price of the bonds?
Identify the weaknesses in the existing procedures and identify improvements to the existing system - Descibe the control weaknesses in accounting for cash receipts
As a gift, Ocean Adventures also gave the partner a 15% shareholding in an unrelated company. At present these shares are worth $21,500.
What is you opinion on the Chase Bank trade? They lost 2 Billion on a risky investment; it caused their stock price to loose 10%. It supposedly was a "Hedge" that went wrong.
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