ACCT425
machine learning (ML) - Answer: sub-set of artificial intelligence; generally understood as the
ability of the system to make predictions or draw conclusions based on the analysis of a large
historical data set; intelligent bookkeeping, improving fraud detection, making sense of
complexities in taxation, effective non-financial reporting
robotic process automation - Answer: software that can be easily programmed or instructed by
end users to perform high-volume, repeatable, rules-based tasks; automates the logical transfer
of data within processes quickly and accurately, freeing up valuable resources from mundane
tasks
cloud computing - Answer: practice of using a network of remote servers hosted on the internet
to store, manage, and process data, rather than a local server or a personal computer; software
as a service, infrastructure as a service, network as a service, platform as a service
implementation challenges of cloud computing - Answer: data quality, data governance, vendor
stability, storage accessibility and security
blockchain and cryptocurrencies - Answer: intial coin offerings, fraud risk, money laundering is
again a key risk for economies and regulators, who will also have concerns around unregulated
ICOs
initial coin offerings - Answer: receive coins/tokens in exchange for a payment, made in a
cryptocurrency rather than a fiat currency
distributed ledger - Answer: technology that checks that transactions are genuine by referencing
previous transactions and grouping them into "block"; blocks then get added to a 'chain' of
successive events to create the single, accurate view of the full list and sequence of transactions
for all network participants to date
fintech - Answer: transforming finance explores the features of this new landscape, highlighting
the many ways in which this revolution is taking place
,ACCT425
cybersecurity - Answer: reality is that you will face a cyber attack, question is how you manage
the number one risk for many organizations - resilience, recovery, and contingency
resilience - Answer: protecting the organization, as far as possible, from the impact of an attack
utilizing policies and procedures
recovery - Answer: the process of managing after an attack has occurred to recover to business
as usual as soon as possible
contingency - Answer: testing procedures that need to be activated once an attack has occurred
mobile devices - Answer: because very common, IT departments cannot contain valuable data
and hardware with a rigid perimeter that is easy to monitor and protect
mobile/contactless payments - Answer: systems are attractive to criminals; Applepay is likely to
be actively targeted
cloud data - Answer: breaches will remain a concern; the following are developed to mitigate
the risks: advisory and regulatory frameworks, methodologies for due diligence checks and
testing of performance and resilience
big data - Answer: risks include 'salami slicing' techniques bringing together seemingly disparate
data to from a pattern for use in identity fraud
internet of things - Answer: could provide detailed data of those living in a smart home,
especially if poorly conceived hardware and software provides a gateway for hackers
, ACCT425
social media - Answer: *culture of openness and collaboration established around them;
organizations need to define their strategies for both external and internal channels;
**reputations can be won or lost according to how you react, time to react can be measure in
minutes, stories go viral
social media strategy - Answer: encompasses the management of your channels, identify how
crises are to managed including social media interactions; test plans and learn lessons; use tools
to improve your internal collaboration; consider how to manage the impact of data privacy
regulations on the use of personal social media accounts for external communications
audit and technology - Answer: re-inventing internal controls; robotics, IoT sensors, drones,
cloud computing, advanced analytics, AI and blockchain
strategic information systems - Answer: cloud computing, XAAS, edge computing
cloud computing - Answer: buying IT capacity and applications as needed from a utility service
provider, make everything available to end users through the internet, ability to access software
and apps from wherever, while it is being hosted by an outside party; on demand- rather than
buying the resources you pay as you go ex: renting a car vs. paying the cab for the minutes
virtualization - Answer: allows flexibility within data center and economies of scale; is a
technology, software that allows servers to share the workload; applied from cloud computing,
technology model
types of cloud computing - Answer: SAAS, platform as a service, infrastructure as a service
software as a service (SAAS) - Answer: completed product that is run and managed by the
service provider, referring to end-user applications; single application through the browser,
customer side- means no upfront investment in servers or software licensing provider side- just
one app to maintain, costs are low ex: google calendar, CRM products, google apps, IM tools,
skype
machine learning (ML) - Answer: sub-set of artificial intelligence; generally understood as the
ability of the system to make predictions or draw conclusions based on the analysis of a large
historical data set; intelligent bookkeeping, improving fraud detection, making sense of
complexities in taxation, effective non-financial reporting
robotic process automation - Answer: software that can be easily programmed or instructed by
end users to perform high-volume, repeatable, rules-based tasks; automates the logical transfer
of data within processes quickly and accurately, freeing up valuable resources from mundane
tasks
cloud computing - Answer: practice of using a network of remote servers hosted on the internet
to store, manage, and process data, rather than a local server or a personal computer; software
as a service, infrastructure as a service, network as a service, platform as a service
implementation challenges of cloud computing - Answer: data quality, data governance, vendor
stability, storage accessibility and security
blockchain and cryptocurrencies - Answer: intial coin offerings, fraud risk, money laundering is
again a key risk for economies and regulators, who will also have concerns around unregulated
ICOs
initial coin offerings - Answer: receive coins/tokens in exchange for a payment, made in a
cryptocurrency rather than a fiat currency
distributed ledger - Answer: technology that checks that transactions are genuine by referencing
previous transactions and grouping them into "block"; blocks then get added to a 'chain' of
successive events to create the single, accurate view of the full list and sequence of transactions
for all network participants to date
fintech - Answer: transforming finance explores the features of this new landscape, highlighting
the many ways in which this revolution is taking place
,ACCT425
cybersecurity - Answer: reality is that you will face a cyber attack, question is how you manage
the number one risk for many organizations - resilience, recovery, and contingency
resilience - Answer: protecting the organization, as far as possible, from the impact of an attack
utilizing policies and procedures
recovery - Answer: the process of managing after an attack has occurred to recover to business
as usual as soon as possible
contingency - Answer: testing procedures that need to be activated once an attack has occurred
mobile devices - Answer: because very common, IT departments cannot contain valuable data
and hardware with a rigid perimeter that is easy to monitor and protect
mobile/contactless payments - Answer: systems are attractive to criminals; Applepay is likely to
be actively targeted
cloud data - Answer: breaches will remain a concern; the following are developed to mitigate
the risks: advisory and regulatory frameworks, methodologies for due diligence checks and
testing of performance and resilience
big data - Answer: risks include 'salami slicing' techniques bringing together seemingly disparate
data to from a pattern for use in identity fraud
internet of things - Answer: could provide detailed data of those living in a smart home,
especially if poorly conceived hardware and software provides a gateway for hackers
, ACCT425
social media - Answer: *culture of openness and collaboration established around them;
organizations need to define their strategies for both external and internal channels;
**reputations can be won or lost according to how you react, time to react can be measure in
minutes, stories go viral
social media strategy - Answer: encompasses the management of your channels, identify how
crises are to managed including social media interactions; test plans and learn lessons; use tools
to improve your internal collaboration; consider how to manage the impact of data privacy
regulations on the use of personal social media accounts for external communications
audit and technology - Answer: re-inventing internal controls; robotics, IoT sensors, drones,
cloud computing, advanced analytics, AI and blockchain
strategic information systems - Answer: cloud computing, XAAS, edge computing
cloud computing - Answer: buying IT capacity and applications as needed from a utility service
provider, make everything available to end users through the internet, ability to access software
and apps from wherever, while it is being hosted by an outside party; on demand- rather than
buying the resources you pay as you go ex: renting a car vs. paying the cab for the minutes
virtualization - Answer: allows flexibility within data center and economies of scale; is a
technology, software that allows servers to share the workload; applied from cloud computing,
technology model
types of cloud computing - Answer: SAAS, platform as a service, infrastructure as a service
software as a service (SAAS) - Answer: completed product that is run and managed by the
service provider, referring to end-user applications; single application through the browser,
customer side- means no upfront investment in servers or software licensing provider side- just
one app to maintain, costs are low ex: google calendar, CRM products, google apps, IM tools,
skype
