CPA BEC NEW EXAM 100% CORRECT LATEST UPDATE
COBIT Model - ANSWER Provides framework for the implementation of information
technology into the control system of an organization, so the organization understands
the risks involved in doing so.
Basic COBIT Framework is aimed at figuring out 3 main things: - ANSWER 1. What are
the business requirements of an IT system for our business?
2. What IT resources would be necessary to implement such a system?
3. What IT processes do we need to figure out to implement such a system?
Four main "domains" to the COBIT Model: - ANSWER 1. Planning and Organization: How
the IT system helps accomplish business objectives
2. Acquisition and Implementation: How the business acquires and develops IT solutions
that address business objectives
3. Delivery and support: How the company can best deliver required IT services
including operations, security, and training
4. Monitoring: How the company can periodically check the IT processes for quality and
control
Seven (7) attributes of "desired" information according to COBIT: - ANSWER 1. Effective
2. Efficient
3. Confidential
4. Integrity
5. Available
6. Compliant
7. Reliable
Enterprise-wide Resource Planning System (ERPs) - ANSWER Software system that
processes transactions, supports management, and aids decision making throughout
,the entire organization in a single package.
AKA (ERP integrates all of the data maintained by the organization into one database)
Advantage of ERP: - ANSWER Increased efficiency in evaluating data to make decisions
Disadvantage of ERP: - ANSWER They are very expensive to purchase and integrate into
an organization
Components of ERP: (OLAP and OLTP) - ANSWER 1. An online analytical processing
system (OLAP). Provides data warehouse and data mining capabilities into an ERP
system
2. Online transaction processing system (OLTP). Records the day-to-day transactions of
an organization such as sales, production, and purchasing
Cloud Based System Advantages: - ANSWER - Improved access provided one has
internet
- Reduced maintenance costs
- Scalability
Cloud Based System Disadvantages: - ANSWER - Data loss is a risk
- Higher chances of data being compromised by hackers
- In general, there is the risk involved in dependence on a service provider than storing
information in-house
Examples of Cloud Based Systems: - ANSWER *Software as a service (Saas): Externally
hosted and usually comes with an ongoing fee instead of buying software on a CD and
installing it
*Platform as a service (Paas): Use of cloud based service to create cloud-based
software
*Infrastructure as a service (Iaas): Using the cloud to access virtual storage or
hardware
,Part of an information technology system with a Continuity Plan allows - ANSWER The
system to remain operational and maintain data in the case of a disaster, such as the
main office burning down or being flooded.
Business Continuity Management (BCM): - ANSWER Whole process of planning for
disasters
DRP - Disaster Recovery Plan: ANSWER Allows organizations to have a plan for
disasters and recover from these disasters. The highest priority will be "mission
critical" activities. The least priority will be given to "task critical activities".
Cold Site: ANSWER An offsite location that has all the physical requirements for data
processing but doesn't have the actual equipment or data.
Warm Site: - ANSWER Place the business can relocate to after a disaster. It contains the
hardware but no copies of backed up data
Hot Site: - ANSWER Offsite location that is completely ready to take over the company's
data processing
Mirrored Site - ANSWER Fully redundant facility - this has the highest cost
IT Functions: IT Internal Controls - ANSWER 1. Application Development
2. Systems Admin & Programming
3. Computer Operations
Names of roles within IT: System Analysis - - ANSWER Designs and Analyses computer
systems, and they usually lead a team of programmers
Names of roles within IT: Application Programmers - - ANSWER Work under the systems
, analyst to actually write the programs
Names of roles within IT: System Administrators - - ANSWER Grants access to system
resources and manages activities within the system
Names of roles within IT: System Programmers- - ANSWER Maintains and updates
operating systems and hardware
IT Roles: Data Librarian - - ANSWER A person who maintains custody of the entity's data
IT Roles: Data Control - - ANSWER Controls the flow of documents in and out of
computer operations
IT Roles: Data Entry Clerk - - ANSWER Keys data into the system
IT Positions: Data Librarian Saved file and data not available online is stored in the file
library, and the file librarian is responsible for it
IT Controls (3): - ANSWER 1. Input Controls: Transactions that are entered into the
system are valid, complete and accurate
2. Processing Controls: Updates and processes have accuracy and completeness so as
to identify the unauthorized transactions entered into the system
3. Output Controls: Ensure that reports generated from the system are accurate and
only distributed to authorized individuals
Why are input controls important: - ANSWER if the data is entered correctly, there are
less problems in the future because of decisions being made based on bad data
What are the 3 main goals of input controls: - ANSWER 1. Validity
2. Completeness
COBIT Model - ANSWER Provides framework for the implementation of information
technology into the control system of an organization, so the organization understands
the risks involved in doing so.
Basic COBIT Framework is aimed at figuring out 3 main things: - ANSWER 1. What are
the business requirements of an IT system for our business?
2. What IT resources would be necessary to implement such a system?
3. What IT processes do we need to figure out to implement such a system?
Four main "domains" to the COBIT Model: - ANSWER 1. Planning and Organization: How
the IT system helps accomplish business objectives
2. Acquisition and Implementation: How the business acquires and develops IT solutions
that address business objectives
3. Delivery and support: How the company can best deliver required IT services
including operations, security, and training
4. Monitoring: How the company can periodically check the IT processes for quality and
control
Seven (7) attributes of "desired" information according to COBIT: - ANSWER 1. Effective
2. Efficient
3. Confidential
4. Integrity
5. Available
6. Compliant
7. Reliable
Enterprise-wide Resource Planning System (ERPs) - ANSWER Software system that
processes transactions, supports management, and aids decision making throughout
,the entire organization in a single package.
AKA (ERP integrates all of the data maintained by the organization into one database)
Advantage of ERP: - ANSWER Increased efficiency in evaluating data to make decisions
Disadvantage of ERP: - ANSWER They are very expensive to purchase and integrate into
an organization
Components of ERP: (OLAP and OLTP) - ANSWER 1. An online analytical processing
system (OLAP). Provides data warehouse and data mining capabilities into an ERP
system
2. Online transaction processing system (OLTP). Records the day-to-day transactions of
an organization such as sales, production, and purchasing
Cloud Based System Advantages: - ANSWER - Improved access provided one has
internet
- Reduced maintenance costs
- Scalability
Cloud Based System Disadvantages: - ANSWER - Data loss is a risk
- Higher chances of data being compromised by hackers
- In general, there is the risk involved in dependence on a service provider than storing
information in-house
Examples of Cloud Based Systems: - ANSWER *Software as a service (Saas): Externally
hosted and usually comes with an ongoing fee instead of buying software on a CD and
installing it
*Platform as a service (Paas): Use of cloud based service to create cloud-based
software
*Infrastructure as a service (Iaas): Using the cloud to access virtual storage or
hardware
,Part of an information technology system with a Continuity Plan allows - ANSWER The
system to remain operational and maintain data in the case of a disaster, such as the
main office burning down or being flooded.
Business Continuity Management (BCM): - ANSWER Whole process of planning for
disasters
DRP - Disaster Recovery Plan: ANSWER Allows organizations to have a plan for
disasters and recover from these disasters. The highest priority will be "mission
critical" activities. The least priority will be given to "task critical activities".
Cold Site: ANSWER An offsite location that has all the physical requirements for data
processing but doesn't have the actual equipment or data.
Warm Site: - ANSWER Place the business can relocate to after a disaster. It contains the
hardware but no copies of backed up data
Hot Site: - ANSWER Offsite location that is completely ready to take over the company's
data processing
Mirrored Site - ANSWER Fully redundant facility - this has the highest cost
IT Functions: IT Internal Controls - ANSWER 1. Application Development
2. Systems Admin & Programming
3. Computer Operations
Names of roles within IT: System Analysis - - ANSWER Designs and Analyses computer
systems, and they usually lead a team of programmers
Names of roles within IT: Application Programmers - - ANSWER Work under the systems
, analyst to actually write the programs
Names of roles within IT: System Administrators - - ANSWER Grants access to system
resources and manages activities within the system
Names of roles within IT: System Programmers- - ANSWER Maintains and updates
operating systems and hardware
IT Roles: Data Librarian - - ANSWER A person who maintains custody of the entity's data
IT Roles: Data Control - - ANSWER Controls the flow of documents in and out of
computer operations
IT Roles: Data Entry Clerk - - ANSWER Keys data into the system
IT Positions: Data Librarian Saved file and data not available online is stored in the file
library, and the file librarian is responsible for it
IT Controls (3): - ANSWER 1. Input Controls: Transactions that are entered into the
system are valid, complete and accurate
2. Processing Controls: Updates and processes have accuracy and completeness so as
to identify the unauthorized transactions entered into the system
3. Output Controls: Ensure that reports generated from the system are accurate and
only distributed to authorized individuals
Why are input controls important: - ANSWER if the data is entered correctly, there are
less problems in the future because of decisions being made based on bad data
What are the 3 main goals of input controls: - ANSWER 1. Validity
2. Completeness
