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| InfoTech Update |
| November 5, 2009 |
Forensic accountants to take prominent role in fraud cases
Forensic accounting is expected come into the spotlight as a series of fraud cases go to trial. Teams of forensic accountants will be working for the prosecution and the defense in the cases, including that of Allen Stanford, who is accused of running an $8.5 billion Ponzi scheme. Don't miss next week's AICPA webcast on the role of IT in forensic accounting. Accountancy Age (London) (10/22)
Commentary: XBRL tagging will change how financial data is reported
Extensible Business Reporting Language, a version of XML tagging designed to improve the efficiency of financial information reporting, won't change what information is reported, Russell Kay writes. Instead, it will change how information is reported. "With XML tagging, the information in a business report is computer-readable and can be extracted, searched and analyzed (even if it's from multiple sources and written in different languages)," he writes. Computerworld (10/5)
Survey: IT security spending will increase next year
IT security spending will increase next year, according to 63% of the respondents to the Global State of Information Security Survey 2010. "The increased risk environment has visibly elevated the role and importance of the information security function to the entire business organization," said Mark Lobel, an advisory principal at PricewaterhouseCoopers. "After years of misalignment, business and IT leaders seem to be starting to think like each other." CIOUpdate.com (10/15)
Other News
Hackers target computing clouds
Cloud computing can leave companies vulnerable to hackers, as this article notes. The damage that can be done is best demonstrated by a massive Google outage this year that was caused by hackers attacking the firm's cloud-computing infrastructure. CSO (10/27)
Experts discuss ways to make cloud computing innovative
Cloud computing, once seen as a way to cut costs, is now being talked up as a way to increase innovation. Zach Nelson, CEO of cloud enterprise resource planning vendor NetSuite, says companies need to think beyond simply running the same systems in the cloud as they have in their data centers. The value of automating business processes is decreasing, even though it is cheaper to run IT in a cloud, noted Gartner analyst Jeff Woods. InformationWeek (10/28)
Which IT costs are next up on the chopping block?
Cutting back on servers through the use of virtualization and cloud computing has been a popular strategy for chief information officers looking to save money, but you can only do that once, BMC Software's chief technology officer, Kia Behnia, says. One of the next places to look for savings is in the process of how you get things done in IT, Behnia says. Forbes (11/2)
Other News
Web-privacy bill is in the works
House Subcommittee on Communications Chairman Rick Boucher, D-Va., has indicated that he hopes to have legislation that would affect the online advertising industry introduced before lawmakers' winter recess. "The key elements [of the legislation] are going to be that every Web site will have to disclose every piece of information that they collect from visitors and how that information is used by the Web site that collects it," he said. ClickZ (10/1)
Group backs privacy advocate in First Amendment case
Privacy advocate Betty Ostergren has received a boost in her assertion that she is relying on a First Amendment right when she publishes Social Security numbers obtained legally through public records. The Electronic Privacy Information Center filed a friend of the court brief in a case before by the 4th U.S. Circuit Court of Appeals. Ostergren publishes the numbers in an effort to pressure state and local governments to do a better job of protecting the information. Computerworld (10/21)
Other News
The Influence of Technology in the Fraud and Forensics Arena Webcast
On Monday, Nov. 9, at 2 p.m. ET, the IT Community brings to you presenter Ron Durkin -- and five panelists: Jim Bourke, Chris Halterman, Joel Lanz, Debra Thompson and Janis Wong -- as they discuss how technology has changed the roles of CPAs in the accounting profession and in the fraud and forensics arena. This session will also offer insight into the forensics environment, the role of specialists and the importance of possessing the proper skill set to mitigate risk effectively in today's competitive landscape. Blank (11/3)
ABCs of IT Security for CPAs #8: A CPA's Introduction to Peripherals Security Management
Peripheral devices are fueling a growing trend of security breaches, information leakage and data theft inside and outside networked environments. Many such devices can operate at a level of sophistication comparable to servers and workstations, but receive little attention where security and monitoring is concerned. Peripheral devices provide alternate pathways into and out of protected environments. Organizations are experiencing great difficulty in defining, enforcing and securing peripheral device policies across heterogeneous networks and computing assets. This paper highlights some of the most widely used peripheral devices, the potential security threats and how to thwart them. Blank (11/3)
Informing members about their benefits
The fields of information management and assurance services are always evolving, and the IT Section is working to provide you with the most up-to-date and reliable resources to help you compete in today's economy. We would like to know how we can effectively reach out to you, the community, to keep you in the loop as to what resources are available. Please e-mail us with suggestions on how to better communicate with you regarding our IT Section member benefits. Blank (11/3)
Download a copy of the AICPA Specialized Communities Annual Report for 2008-2009
Within its pages, you will find a summary of some of the initiatives the IT Community undertook this past year. These and other activities were accomplished through the combined efforts of our dedicated volunteers and professional staff. We hope this gives you a flavor of the value our members receive. Thank you for your membership and support of our AICPA Specialized Communities. Blank (11/3)
FTC delays "Red Flags" rule until June 1, 2010
On Oct. 30, the Federal Trade Commission announced it was delaying enforcement of its "Red Flags" rule until June 1, 2010, for financial institutions and creditors subject to the FTC. The action was in response to a request from Congress, which was encouraged to pursue the delay by numerous organizations, including the AICPA and many state CPA societies. The AICPA is continuing to seek an exemption for CPAs and CPA firms before the rule takes effect next year. The "Red Flags" rule requires "creditors" or "financial institutions" with covered accounts to have programs to assist in identifying a potential identity theft. Enforcement of the rule was scheduled to take effect on Sunday, Nov. 1. For additional resources, visit the IT Center. Blank (11/3)
Business Intelligence: Driving Value by Turning Data into Decisions Webcast
Brought to you by the AICPA Business, Industry and Government Community. On Thursday, Nov. 19, at noon ET, presenters Donny C. Shimamoto, CPA.CITP, founder of Intraprise TechKnowlogies and the leader of ITK's consulting practice, and Bernard Marr, Ph.D., chief executive and director of research for the Advanced Performance Institute, will discuss the business-intelligence tools and techniques that have become easier to use and can facilitate a wide range of analyses from complex cost allocations to customer-relationship management that can drive value in your organization. Register now to learn the concepts, principles and practices associated with BI as well as practical guidance for managing an enterprise BI initiative. Blank (11/3)
AICPA annual report for 2008-2009 available online and in video
The AICPA's annual report for the fiscal year running Aug. 1, 2008, through July 31, 2009, has been posted to our Web site (PDF 1MB). "Forward" tells how the AICPA and CPAs helped the nation navigate the financial crisis and discusses the year's important initiatives in advocacy, financial reporting, international convergence of standards, new programs to assist CPA firms in serving clients and filling the CPA pipeline for the future. Financial statements are included as well. You can download the annual report now and watch a video highlighting the year's most significant developments and their effects on CPAs. Blank (11/3)
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