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Ais 5 Review

In: Business and Management

Submitted By afleming11
Words 1792
Pages 8
* Common Threats to an AIS Natural and Political Disasters | Software Errors and Equipment Malfunctions | Fire or excessive heat, Floods, Earthquakes and landslides, Hurricanes, tornadoes and high winds, Blizzards, snowstorms, and freezing rain, war and attacks by terrorists. | Hardware or software failures, Software errors or bugs,
Operating system crashes, Power outages and fluctuations, undetected data transmission errors | Unintentional Acts | Intentional Acts | Accidents caused by human carelessness, failure to follow established procedures, and poorly trained or supervised personnel, innocent errors or omissions, lost, erroneous, destroyed, or misplaced data, logic errors, systems that do not meet company needs or are incapable of handling tasks. MOST LOSSES OCCUR HERE! | Sabotage, which is destroying a system, computer fraud, misappropriation of assets, financial statement fraud, corruption. Deliberate destruction to harm a system. (Cookie: data website store on your computer that identify the site & you do not have to log on each time you visit the site) |

* The Association of Certified Fraud Examiners (ACFE) 2014 Survey Results Show: * 5% of revenues are lost to fraud (≈ >$3.7 trillion lost globally) * Median loss: $145,000 (22% of cases involved with losses > $1,000,000) * Most frauds are fairly small in scope * Median fraud scheme lasts about 18 months * What is Fraud? * Gaining an unfair advantage over another person. All five of the following elements must be present for it to be legally considered fraud: 1. A false statement, representation, or disclosure. 2. A material fact that induces a person to act (influences the decision process). 3. An intent to deceive (not accidental). 4. A justifiable reliance; that is, the person relies on the misrepresentation to take an...

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