Explain why reduced security is an outsourcing risk
Information outsourced to off-shore IT vendors raises unique and serious questions regarding internal control and the protection of sensitive personal data. When corporate financial systems are developed and hosted overseas, and program code is developed through interfaces with the host company's network, US corporations are at risk of losing control of their information. To a large degree US firms are reliant on the outsourcing vendor's security measures, data-access policies and the privacy laws of the host country.
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Boston Trombley Company is a defendant in a lawsuit alleging damages of $3 billion. The litigation is anticipated to continue for several years, but no reasonable estimate can be made at this time regarding ultimate financial responsibility. This situation is an example of:
a. An $3 billion expense to be recorded in the income statement during the year of the suit. b. A loss contingency that should be disclosed in the notes to Boston's financial statements. c. An estimated liability that must appear in Boston Trombley Company's balance sheet. d. None of these. No accrual or disclosure is required in Boston's financial statements.
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Indicate whether the statement is true or false
The signature of the maker of a note may be typewritten or signed by means of a signature stamp so long as it represents a present intention to authenticate the instrument
a. True b. False Indicate whether the statement is true or false
Yves works on a sales support team, which helps outside salespeople by mailing promotional material, following up on orders, and tracking shipments. Which type of team is this?
A) work B) project and development C) parallel D) management E) virtual