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November 1, 2012
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  Tech Update 
  • How to gauge a cloud-computing provider's risks
    If you plan to shift operations to the cloud, it is essential to become familiar with the vendor's business model and any financial or operational problems it might have. That means understanding the vendor's cash flow, source of funding, commitment to cloud computing and services. CFO.com (10/17) LinkedInFacebookTwitterEmail this Story
  • What to expect from Big Data's ongoing evolution
    Improvement in data management and visualization tools allows users to connect data sets and spot trends. It is a more efficient approach to Big Data than relying on business intelligence and is helpful as regulatory requirements about saving data increase, writes Eric Knorr, editor-in-chief at InfoWorld. InfoWorld/Modernizing IT blog (10/22) LinkedInFacebookTwitterEmail this Story
  • Making predictive analytics work for a business
    Predictive analytics are being used by organizations such as the NBA's Orlando Magic to offer insights on information gathered from data mining, Robert Mitchell writes. Financial services, retail and telecommunications businesses are making the greatest use of predictive analytics, Gartner analyst Gareth Herschel says. Computerworld (10/8) LinkedInFacebookTwitterEmail this Story
  • Firms expected to be slow to adopt Windows 8, Surface tablet
    Microsoft is pulling out all the stops to market Windows 8 and the Windows 8 RT Surface tablet. However, corporations have little desire to migrate to the operating system and mobile device at this time. In a survey by Information Technology Intelligence Consulting, 61% of respondents said there is no compelling need to switch. E-Commerce Times (10/23) LinkedInFacebookTwitterEmail this Story
  Emerging Trends 
  • Buy-side execs aren't confident in accounting system
    Almost 40% of buy-side executives surveyed by SimCorp said their accounting system cannot support all major asset classes. Close to half said they are not confident their system can support the launch of products in a timely fashion. "Technology is failing the buy side," said David Kubersky, managing director of SimCorp North America. Wall Street & Technology (10/3) LinkedInFacebookTwitterEmail this Story
  Security Corner 
  • Weak passwords are still commonplace, study finds
    Many people still use obvious passwords, such as "123456," according to SplashData's list of the year's worst passwords. "Password," "passsword1" and "football" also are on the list. Identity thieves and hackers go after the easiest targets, so choosing a stronger password does provide some protection, SplashData CEO Morgan Slain said. TG Daily (10/25) LinkedInFacebookTwitterEmail this Story
  • Criminal service rents access to compromised corporate servers
    DedicatedExpress.com is a criminal enterprise that rents access to thousands of corporate servers that have been hacked through Windows software. The service is based in Russia and is a new twist on cybercrime. "This is the first time I've heard about providing a service with access to Fortune 500 companies," said Darren Hayes, a professor of computer science at Pace University. CSO (10/23) LinkedInFacebookTwitterEmail this Story
  Regulatory & Legislative 
  • General says Homeland Security should lead public-private initiative
    Gen. Keith Alexander, head of U.S. Cyber Command and the National Security Agency, said that if government and industry share more information with each other about malware and other threats, cyberattacks against the U.S. could be thwarted. He recommended that the Department of Homeland Security head any initiative to transfer such information between the private and the public sector. The Hill/Hilicon Valley blog (10/1) LinkedInFacebookTwitterEmail this Story
  ITMA Community News & Events 
  • Information Technology Section has a new name
    To better align the section's name with members' services and roles within their firms and organizations, the AICPA's Governing Council approved renaming the IT Section the Information Management and Technology Assurance Member Section. Information management involves management of data, integration of systems and business reporting. Technology assurance addresses risks, controls and governance associated with technology. Updates to the website, collateral, newsletters and other resources will happen in coming months. LinkedInFacebookTwitterEmail this Story
  • Quick Reference Guide to SOC Reports
    The AICPA established three Service Organization Control reporting options to meet the varying information and assurance needs of entities that use service organizations. A quick reference guide is available and defines the three control reports, responsibilities of management of users and service organizations and how to determine which report is applicable. Note: This electronic report is free for IT Section members. LinkedInFacebookTwitterEmail this Story
  • Interested in new SOC opportunities?
    The AICPA Peer Review Board approved Service Organization Control 1 and 2 engagements as must-select engagements. This means that if a firm performs SOC 1 or 2 engagements, at least one such engagement should be selected during its peer review. Further, someone on the peer-review team should have corresponding SOC 1 or 2 experience. Refer to Peer Review Alert 12-04 regarding the treatment of SOC engagements in a peer review. LinkedInFacebookTwitterEmail this Story
  • Register: Learn how to manage compliance issues in the cloud
      
    Whether you are already in the cloud or are considering moving products to the cloud, it's important to be able to manage compliance issues and client expectations. This webcast, "Cloud IT, Privacy & Security," scheduled 1 to 2:15 p.m. ET on Nov. 8, will discuss what the market expects and how to maximize the cloud experience. Register. LinkedInFacebookTwitterEmail this Story

  SmartQuote 
I finally figured out the only reason to be alive is to enjoy it."
--Rita Mae Brown,
American writer


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About the Information Management and Technology Assurance Section
The AICPA's Information Management and Technology Assurance Section supports CPAs with a focus in ensuring data reliability, relevance, and availability using technology. The use of technology also enables CPAs to manage financial information effectively. The ITMA Section resources provide valuable information to help members achieve profitability for their organizations and of their clients.

About the Certified Information Technology Professional Credential
The Certified Information Technology Professional credential distinguishes CPAs who leverage technology to provide expertise in information assurance, internal controls, business process improvement, data analytics, and enhanced business reporting.

 
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