Malware

In the past, viruses were created with the sole purpose of wreaking havoc on the infected systems. A large fraction of today’s malware, on the other hand, are designed to generate revenues for the creator. Spyware, botnets, and keyloggers steal information from your system or control it so that someone else can profit. In other words, the motivation for making them is now more attractive than before.

Keyloggers can reveal your usernames, passwords, PIN numbers, and other authentication information to their creators by recording your key strokes. This information can then be used for breaking into various accounts: credit cards, payment programs (like PayPal), online banks, and others. You’re right, keyloggers are among the favourite tools of individuals involved in identity theft.

Much like the viruses of old, most present day malware drain the resources, such as memory and hard disk space, of contaminated systems; sometimes forcing them to crash. They can also degrade network performance and in extreme cases, may even cause a total collapse.

If that’s not daunting enough, imagine an outbreak in your entire organisation. The damage could easily cost your organisation thousands of euros to repair. That’s not even counting yet the value of missed opportunities.

Entry points for malware range from optical disks, flash drives, and of course, the Internet. That means, your doors could be wide open to these attacks at this very moment.

Now, we’re not here to promise total invulnerability, as only an unplugged computer locked up in a vault will ever be totally safe from malware. Instead, this is what we’ll do:

  • Perform an assessment of your computer usage practices and security policies. Software and hardware alone won’t do the trick.
  • Identify weak points as well as poor practices and propose changes wherever necessary. Weak points and poor practices range from the use of perennial passwords and keeping old, unused accounts to poorly configured firewalls.
  • Install malware scanners and firewalls and configure them for maximal protection with minimal effect on network and system performance.
  • Implement regular security patches.
  • Conduct a regular inspection on security policy compliance as well as a review of the policies to see if they are up to date with the latest threats.
  • Keep an audit trail for future use in forensic activities.
  • Establish a risk management system.
  • Apply data encryption where necessary.
  • Implement a backup system to make sure that, in a worst case scenario, archived data is safe.
  • Propose data replication so as to mitigate the after effects of data loss and to ensure your company can proceed with ‘business as usual’.

Once we’ve worked with you to make all these happen, you’ll be able to sleep better.

Other defences we’re capable of putting up include:

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Integrated eCommerce – The right way to do extend your business online

With more people spending more time on the Web, now is the perfect time to start selling your products and services online. And if you think those people are only busy posting status updates on Facebook and Twitter but avoid all other websites, think again. Many are actually buying stuff online. E-commerce has never been bigger. In the UK, it was already worth 100 Billion two years ago.

Buyers are finding it more convenient to buy products and services online because they can do so from practically anywhere; even in the comfort of their homes. What’s more, they could browse through more choices at a fraction of the time they?d have spent doing the same thing in brick and mortar establishments.

So if your potential buyers are already out there, what’s stopping you from opening your virtual doors to greet them?

Antiquated e-Commerce

Now, before you start getting excited in setting up your own idea of an eCommerce-ready website, you might want to be aware of what a sound e-commerce investment entails these days. If all you’re thinking is a site that accepts orders and have someone enter those orders in your accounting system, then you’ve got it all wrong.

You’re never going to get good returns on your investment that way. While you’re opening doors for new income streams, you’re also introducing additional costs and sophistication for processes that are highly susceptible to errors, inconsistencies, delays, and, eventually, client dissatisfaction.

Doing it right with integrated e-Commerce

To compete with others who are also offering the same products and services as yours, you need to ensure complete customer satisfaction. The best way to achieve this is to employ integrated e-commerce. This is an e-commerce system that combines your payment system, accounting, ERP, CRM, inventory management, analytics, and others into a cohesive, synchronised environment.

The idea is to do away with majority of your manual tasks in order to achieve fast, efficient, accurate, and secure transactions and other related processes.

eCommerce integration will allow you to do business 24/7 without requiring any of your staff to render the same number of hours. That means, your company continues to operate and earn even while all of you are fast sleep.

Then when you’re up, you can view reports telling you what transpired overnight, over the weekend or over any specified period of time. The information you obtain can help you make well-informed decisions and act on issues much quicker.

And because your business is on the Web, you can serve customers and obtain new ones from geographical locations far from where your office or store is actually located. If you want, you can even gain customers from halfway around the world.

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Reducing Your Carbon Footprint

Climate change creates a loud buzz across the globe. People are talking about how extreme the weather is, how polluted the environment has become or how devastating the results of carbon emissions are. While it is true that humans contribute a large impact to the worsening climate situations, people are also the most influential key towards making this world a better place. As much as the increase in carbon emissions results from what you do, the healthy change can also start in you.

Although it is a bit difficult to determine what you can do to help the society, do not be disheartened. The devastating forces may be massive for you to work through, but there are countless simple actions?you can take to reduce your carbon footprints day by day.

Home

While you are in the comfort of your home, you can start saving energy to reduce your carbon emission. You could’replace your standard light bulbs with compact fluorescent ones. A compact fluorescent bulb saves more than 2/3rds or up to 1,300 pounds of carbon dioxide in its lifetime. This bulb contains mercury, so make sure to choose a brand that has lower mercury than others.

Another thing, you can do to reduce your carbon footprint at home, is to mind your electronics. When you do not use your gadgets and appliances, make sure you unplug them. If you buy new ones, take time to look at the energy rating of the electronics to save you more energy in future use.

Alternative renewable energy is also a good thing to shift into. Try solar, hydro or wind power at home. Setting up your own residential solar panels and building your own turbines are excellent ways to choose green energy.

Food

The food industry is one of the largest contributors of carbon emissions. You may not have control over the food processing, but you can lower your carbon footprint by buying local products in the market. These local products are not transported from far off places, so the carbon dioxide released from them is lower compared to imported ones. Take a look at the packaging as well; less packaging means less waste.

If you have a big backyard, you could use your it to grow food. ?Eating food, either fruit or vegetable, which you grow at home is energy efficient. No more fuel combustion from transportation and other consequent food processing.

Travel

When you have your own car, accelerating it slowly and smoothly, as well as maintaining speed while driving will help lower your carbon emissions. If you drive a lot, it would be better to get a green car. As of now, you can consider using?public transportation and go for road travel rather than air travel when you take long distance trips. But when you need to take planes, better choose a non-stop flight instead of connecting ones.

Indeed, there are many ways you can combat global warming and climate change. The road to improved life quality through energy efficiency might be hard, but a transformed lifestyle can make a big difference. Start now ? lighten your carbon footprint and help save the world.

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How to Reduce Costs when Complying with SOX 404

Section 404 contains the most onerous and most costly requirements you’ll ever encounter in the Sarbanes-Oxley Act (SOX). In this article, we?ll take a closer look at the salient points of this contentious piece of legislation as it relates to IT. We?ll also explain why companies are encountering difficulties in complying with it.

Then as soon as we’ve tackled the main issues of this section and identify the pitfalls of compliance, we can then proceed with a discussion of what successful CIOs have done to eliminate those difficulties and consequently bring down their organisation’s IT compliance costs. From this post, you can glean insights that can help you plan a cost-effective way of achieving IT compliance with SOX.

SOX 404 in a nutshell

Section 404 of the Sarbanes-Oxley Act, entitled Management Assessment of Internal Controls, requires public companies covered by the Act to submit an annual report featuring an assessment of their company?s internal controls.

This ?internal control report? should state management’s responsibility in establishing/maintaining an adequate structure and a set of procedures for internal control over your company?s financial reporting processes. It should also contain an assessment of the effectiveness of those controls as of the end of your most recent fiscal year.

Because SOX also requires the public accounting firm that conducts your audit reports to attest to and report on your assessments, you can’t just make baseless claims regarding the effectiveness of your internal controls. As a matter of fact, you are mandated by both SEC and PCAOB to follow widely accepted control frameworks like COSO and COBIT. This framework will serve as a uniform guide for the internal controls you set up, the assessments you arrive at, and the attestation your external auditor reports on.

Why compliance of Section 404 is costly

Regardless which of the widely acceptable control frameworks you end up using, you will always be asked to document and test your controls. These activities can consume a considerable amount of man-hours and bring about additional expenses. Even the mere act of studying the control framework and figuring out how to align your current practices with it can be very tricky and can consume precious time; time that can be used for more productive endeavours.

Of course, there are exceptions. An organisation with highly centralised operations can experience relative ease and low costs while implementing SOX 404. But if your organisation follows a largely decentralised operation model, e.g. if you still make extensive use of spreadsheets in all your offices, then you’ll surely encounter many obstacles.

According to one survey conducted by FEI (Financial Executives International), an organisation that carried out a series of SOX-compliance-related surveys since the first year of SOX adoption, respondents with centralised operations enjoyed lower costs of compliance compared to those with decentralised operations. For example, in 2007, those with decentralised operations spent 30.1 % more for compliance than those with centralised operations.

The main reason for this disparity lies in the disorganised and complicated nature of spreadsheet systems.

Read why spreadsheets post a burden when complying with SOX and other regulations.

Unfortunately, a large number of companies still rely heavily on spreadsheets. Even those with expensive BI (Business Intelligence) systems still use spreadsheets as an ad-hoc tool for data processing and reporting.

Because compliance with Section 404 involves a significant amount of fixed costs, smaller companies tend to feel the impact more. This has been highlighted in the ?Final Report of the Advisory Committee on Smaller Public Companies? published on April 23, 2006. In that report, which can be downloaded from the official website of the US Securities and Exchange Commission, it was shown that:

  • Companies with over $5 Billion revenues spent only about 0.06% of revenues on Section 404 implementation
  • Companies with revenues between $1B – $4.9B spent about 0.16%
  • Companies with revenues between $500M – $999M spent about 0.27%
  • Companies with revenues between $100M – $499M spent about 0.53%
  • Companies with revenues less than $100M spent a whopping 2.55% on Section 404

Therefore, not only can you discern a relationship between the size of a company and the amount that the company ends up spending for SOX 404 relative to its revenues, but you can also clearly see that the unfavourable impact of Section 404 spending is considerably more pronounced in the smallest companies. Hence, the smaller the company is, the more crucial it is for that company to find ways that can bring down the costs of Section 404 implementation.

How to alleviate costs of section 404

If you recall the FEI survey mentioned earlier, it was shown that organisations with decentralised operations usually ended up spending more for SOX 404 implementation than those that had a more centralized model. Then in the ?Final Report of the Advisory Committee on Smaller Public Companies?, it was also shown that public companies with the smallest revenues suffered a similar fate.

Can we draw a line connecting those two? Does it simply mean that large spending on SOX affects two sets of companies, i.e., those that have decentralised operations and those that are small? Or can there be an even deeper implication? Might it not be possible that these two sets are actually one and the same?

From our experience, small companies are less inclined to spend on server based solutions compared to the big ones. As a result, it is within this group of small companies where you can find a proliferation of spreadsheet systems. In other words, small companies are more likely to follow a decentralised model. Spreadsheets were not designed to implement strict control features, so if you want to apply a control framework on a spreadsheet-based system, it won’t be easy.

For example, how are you going to conduct testing on every single spreadsheet cell that plays a role in financial reporting when the spreadsheets involved in the financial reporting process are distributed across different workstations in different offices in an organisation with a countrywide operation?

It’s really not a trivial problem.

Based on the FEI survey however, the big companies have already found a solution – employing a server-based system.

Typical server based systems, which of course espouse a centralised model, already come with built-in controls. If you need to modify or add more controls, then you can do so with relative ease because practically everything you need to do can be carried out in just one place.

For instance, if you need to implement high availability or perform backups, you can easily apply redundancy in a cost-effective way – e.g. through virtualisation – if you already have a server-based system. Aside from cost-savings in SOX 404 implementation, server-based systems also offer a host of other benefits. Click that link to learn more.

Not sure how to get started on a cost-effective IT compliance initiative for SOX? You might want to read our post How To Get Started With Your IT Compliance Efforts for SOX.?

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