Hacking the Accounting Information System - Research Paper Example

Hacking the Accounting Information System Introduction Accounting system is basically the financial management of a business and it contains many confidential information and need security at all times. An unauthorized access to the accounting information can be damaging to the accounting data. When the accounting data is altered or deleted it can create chaos in the accounting department. The damage can vary accounting to the size of the business firm. Today, the whole business works with internet facility hence the risk of hacking on accounting information system in high. Hacking is of growing concern as they can hack the password and also can crack codes which can alleviate the problems in an accounting department. One of the companies which got hacked in recent times is Microsoft .inc. According to ( Smith,2012)“In simple terms computer hacking and cracking reflects, the intentional, unauthorized access to an organization’s computer system”. So the companies need to be alert and take considerable responsibility to secure its Accounting Information System (Thesis).Accounting Information System is a process which needs high security as many crucial and essential data are handled in it. Any business concern needs to take the responsibility to secure the confidential data so as to protect the company from hackers and unidentified encroachment. The business organisations have the responsibility to invent and install upgraded security system to ensure confidentiality and risk free environment for the company and its customers. Microsoft being the most prominent company in the world had been hacked few times .Thus the accounting information system along with the management has undergone many challenges and losses. The company was hacked in 2012 by a group of Chinese hackers and in 2013 a java script was injected in the business system of the company. The Microsoft security response centre states the Microsoft Active Protection was a program that provide security for program that gives anti –hacking tool facility. However, the Microsoft did deny that hacking was not done by Chinese group but it was a “rookie mistake”. They said it was due to dodgy email attachment. So here we can see that hacking can be done even if the e- mails which are socially engineered to disrupt the business system. As per (Peter,2013 ) “As reported by Face book and Apple, Microsoft can confirm that we also recently experienced a similar security intrusion," wrote Matt Thomlinson, General Manager of Microsofts Trustworthy Computing Security. Unlike the New York Times and the Wall Street Journal there was no mention of Chinese hackers”. But the company has been highly responsible to the so called hacking and has assured then and there that the company would be more cautious with the social engineering tactics. The company did take responsibility and assured that it will employ security postures and deploy more people to prevent future unauthorised access to the business information system. In case, Microsoft had used third party accounting system, then the hacking occurrence can be reduced to a minimum level. This is because in third party account system the data are more secure because the company can alter or develop the system when and where required. The adaptation and flexibility is easier and they can customize their accounting system to suit their security needs. A company like Microsoft needs an accounting system which is uniquely protected so that breaching becomes a less of an occurrence. The third part accounting system gives a competitive advantage and also the software provider offers a responsibility on the data security and protection. So here the advantage is that there is additional security to the accounting system as the software provider also will take responsibility to avoid unknown intrusion. In third party accounting system there is a regular monitoring and update of the system which gives an additional responsibility on the securing of the accounting information and data. There is integrity and reliability to the accounting system as the company as well as the third party software provider makes the maximum of their effort to secure data protection. So, Microsoft would have a high level of responsibility and security as they can also get advice and guidance from software experts of the third party accounting system. Also when the accounting system is from a third party there is an increased alertness from the Microsoft because the system is from an outsider. Any company big or small can regulate hacking if they take proper precautions time ahead. It is essential that the companies need to update and monitor their security system to keep at bay the novel hackers. The hackers attack a weak system which means that had not been updates and has flaws. So companies need to update their security system on intervals to avoid hacking. The firewall need to set in an efficient manner so that unwanted data are not passed on to the company information system. Also the companies should have a complex and intricate passwords which can offer more security. The company staff must be trained to be more cautious while handling information on internet so that spasm and malware attacks. The company needs to ensure that the information system personnel and security control department maintain a high level of security when interacting with computer based information. Also the company needs to take steps to avoid usage of devices or softwares which are risky or having no guarantee on security. The company needs to have easy installation on Apache and IIS servers, strong security against hacking, best breed of pre – defined protection and instant security rules, interface and API managing multiple servers which can be handled with ease. Also the plug INS and softwares need to be with optimal protection and needs to have a security layer in front of application to prevent hacking. As per (Lewis,2013)“Company may need to use measures and services to secure their intellectual property and networks and need to implement .mitigation strategies through continuous monitoring for risk is essential for exercising due diligence in protecting shareholder value”. There can be certain recommendation for the business firms to secure their system and assets from hackers. The company need to secure their password management software as it is the most hacked arena. Multiple layers of security need to imply where two – factor authentication is needed. Secondly, it is important for the companies to run a security audit to verify any data is vulnerable to risk. The IT infrastructure, computers, network and mobile devices need to be audited on a regular basis. Lastly the companies need to encrypt their data so that when it is stolen or lost the hacker cannot read it. Encryption is an effective tool to protect confidential data which are important to businesses. Conclusion In business, technology plays a crucial role but it has its own limitations. So a company need to protect its data like accounting information and company documents from hackers. Accounting information system has vulnerable information which if hacked can impose risk and loss to the business. So companies need to ensure that they use systems which can add more guaranteed and protection to their datas. In case of third party accounting system, there can be a more responsible attitude towards data protection as both the company and the third party software provider security on company information system. So the password, IT infrastructure and data need to secured aptly to avoid hacking to a certain extend. References Gibbs, S. (2014). How to protect your personal data from the next hack attack like eBay. In http://www.theguardian.com. Retrieved May 24, 2014, from http://www.theguardian.com/technology/2014/may/22/how-to-protect-yourself-hack-attack-ebay Lewis, James A. "Raising the bar for cyber security." http://csis.org. CSIS, 2013. Web. 24 May 2014. . Peter, D. (2013). Microsoft Joins Ranks of the Tragically Hacked. In http://www.pcmag.com. Retrieved May 24, 2014, from http://www.pcmag.com/article2/0,2817,2415787,00.asp Smith, (2012). "Microsoft admits to being hacked too." http://www.networkworld.com. Network World, 2013. Web. 24 May 2014. . Read More