Importance of Cyber Security Technology

Importance of Cyber Security Technology

Instructions/Descriptions

Importance of Cyber Security Technology

Discussion #1

Discuss the importance of cyber security as new technology is introduced.  Include in your discussion topics such as the basics of cyber security that impact the accounting profession, how you see the role of accountants changing as cyber security becomes more important and what new technology you found that will enhance cyber security.

Discussion# 2

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Not that long ago, cybersecurity was only a worry for the tech savvies. It was widely viewed by corporate leaders as their IT department’s responsibility. Most people thought that as long as the right firewalls, antivirus programs and authentication software were in place, they could leave IT security to the experts and focus on the other elements of running a business. According to Alexander (2012), “cybercrime can involve the theft and damage of property as well as fraudulent and espionage-related activities.” (par. 3) therefore, cyber security is something that cannot be ignored by anyone anymore. Unless you hide from the world’s media, you will realize how hacking and data breaches impact organizations of all types on a regular basis. These incidents are often significant to make the front pages, causing irreparable damage to the companies involved.

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Krus (2012), mentions that “companies should discuss cybersecurity risks in their risk factors if these issues are among the most significant factors that make an investment in the company speculative or risky” (par 3), therefore companies when designing a cybersecurity plan should also include the risks. Probably the biggest mistake companies make when designing a cybersecurity plan is to rely on technology alone to protect their business. Technological solutions such as antivirus software, daily data backups, small business firewall, encryption methods, strong passwords, and protocols for web browsers are only important bricks in the cyber defense wall and may even give a false sense of security.

CrashCourse (2017), explains that “access should be given to the right people and refused to the wrong people” (min: 3:03), diligence on the part of employees is mandatory and needed in the cybersecurity plans. Employee’s education and training is crucial, especially the ones dealing with financial information, to any successful plan to protect businesses as employees unintentionally become the point of access for cyber criminals through email phishing and even social media attacks. For example, the accountant is checking the emails and he sees and email that a “friend” sent to him, he clicks into a link that infects the computer and the office network and now the hackers have access to all the data from the company.

Accountants usually work with QuickBooks, where they have all the client’s financial records. Transporting data using a USB drive is not secure and when there is too much work, it can be taken home. Transporting their client’s QuickBooks data files on a USB drive back to their home, unencrypted, assuming that because the QuickBooks file is password protected, it is secure, gives to the hackers a change to wipe out all the QuickBooks data.  The USB drive should be one that has encryption built in by requiring a password for access. Encrypting important information is a way to enhance cyber security. There are new technologies that improve cyber security such as the context-aware behavioral analytics, which consist in the monitoring of unusual behaviors such as a user downloading millions of files to a USB stick or abnormal file movement to detect an attack.

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Additionally, as Lemmermann (2019), mentions “an essential tool for maintaining networks is a network monitor. These tools allow the central monitoring of devices connected to the network and can help troubleshoot devices causing problems related to network performance. Proper troubleshooting will prevent security breaches and help you avoid unnecessary downtime.” (p. 3), therefore if the business has a networking, a software that monitors the devices that are connected to it and their behavior, it could prevent attacks, or it could detect when a device is down.

Importance of Cyber Security Technology

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