You are the director of IT audit for a small but growing fintech organization. The new...

 

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You are the director of IT audit for a small but growing fintech organization. The new VP of operations is concerned that risks are not being managed appropriately within the department. He provides you with the current alignment between activities and risks and asks you to review them and ensure that items are aligned correctly. For each of the following control activities, select the type of risk it mitigates. Risks: ● ● Inadequate segregation of duties Unauthorized physical access Unauthorized logical access Control activities: 1. 2. 3. 4. 5. 6. 7. 8. 9. Only the warehouse manager can unlock the main door. Software programmers cannot write the code and implement that code within the production environment. All guests must check in with security personnel at the front desk. Tiered access is based on job function. Only employees with Level 4 badges may enter the data center. The same personnel should not prepare bank deposits and verify cash receipts. Accounts payable clerks may not process payments for receivables. Users must authenticate to join the wireless network. All passwords must have at least 10 characters and must be changed every 60 days. Type of Risk You are the director of IT audit for a small but growing fintech organization. The new VP of operations is concerned that risks are not being managed appropriately within the department. He provides you with the current alignment between activities and risks and asks you to review them and ensure that items are aligned correctly. For each of the following control activities, select the type of risk it mitigates. Risks: ● ● Inadequate segregation of duties Unauthorized physical access Unauthorized logical access Control activities: 1. 2. 3. 4. 5. 6. 7. 8. 9. Only the warehouse manager can unlock the main door. Software programmers cannot write the code and implement that code within the production environment. All guests must check in with security personnel at the front desk. Tiered access is based on job function. Only employees with Level 4 badges may enter the data center. The same personnel should not prepare bank deposits and verify cash receipts. Accounts payable clerks may not process payments for receivables. Users must authenticate to join the wireless network. All passwords must have at least 10 characters and must be changed every 60 days. Type of Risk

Answer rating: 100% (QA)

ANSWER Risks Inadequate segregation of duties Unauthorized physical access Unauthorized logical access Control activities 1 Only the warehouse manager can unlock the main door Unauthorized physical ac... View the full answer