The proposed new IT-based sales accounting system will cloud-based and St. James will access the underling software via online access. Visit the website of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) (www.coso.org) to obtain a free copy of COSO's thought paper, Enterprise Risk Management for Cloud Computing, to answer the following questions:
(a) What is cloud computing?
(b) What benefits, if any, would use of cloud computing for the sales system provide St. James?
(c) What risks, if any, would the use of cloud computing for the sale system impose on St. James?