Risk In Accounting System
Risk can be defined as uncertainty, which is any harm or loss that may arise and have a negative impact on the system. The process of risk identification in an accounting information system involves highlighting those hazards that may cause adverse effects on the system or on those within the system.
A significant portion of the accounting information systems is exposed to vulnerabilities that could have a detrimental impact on enterprise procedures as well as data. The top three most potential attack vectors on the new ERP system that can threaten the security of the system included a less secure customer web portal, vulnerabilities in the underlying database protocols in addition to malicious accounts.
Firstly, the less secure web portal can be utilized as a part of the attack which can damage the entire ERP system. Furthermore, in the second form of the internal network comprising of the supplier and customer portals can be attacked. In addition, through the last attack vector, an attacker can attack database protocol configurations that are insecure and eventual can execute commands on the operating system. Through this attack vector, the attacker can gain complete access to the operating system.
The operating system of the accounting information system consists of a number of vulnerabilities and it can be effortlessly attacked by hackers, Trojan viruses. In view of the fact that the company is involved in the manufacturing of disks, it involves several raw materials and inventory that need to be sent to various warehouses.
Nevertheless, the implementation of new software ascertains the coordination between the manufacturers and suppliers and at the same time smoothen the procurement process. In other words, the new software not online streamlines the procurement process but also ensure that there are no delays. The new software additionally enables the organizations to track the quality of their final products along with other attributes linked with the products. All in all, through the new software, the whole procedure can be streamlined which in turn enhances the efficiency of the organization. In addition, the supply chain manager is the most crucial element of the accounting information system as it performs an assortment of functions including monitoring, real-time order management, logistics management and planning of supply chain.