Cyberattacks in Public Companies\" Please respond to the following: From the e-A

Question

Cyberattacks in Public Companies"  Please respond to the following:

From the e-Activity, analyze the effects of the SEC‘s data breach disclosure requirement on financial reporting, based on the current language of the requirement. Recommend a change to the disclosure requirements to strengthen public company disclosures of cyberattacks. Provide support for your rationale.

Examine the impact of cyberattacks on potential investors in a public company. As an auditor, provide your recommendations for including the potential of a cyberattack in the 10-K, as opposed to an actual attack. Provide support for your recommendation.

Week 6 eActivity

Research the Internet for a recent story (within the last five years) involving a data breach by a publicly traded company. Research the current disclosure requirements of the Securities and Exchange Commission (SEC) involving data breaches by public companies. Be prepared to discuss.

Explanation / Answer

Answer: The consequence of a cyber-attack(s) towards a probable investors of a public corporation.is possible, because the increasing dependence of the computer cleverness in the operations of storing document from the mundane to the highly important piece of data are stored in computer that beg for hacker to snoop in any or all files that become available.

As an auditor, to prevent the possible cyber-attack in the firm, it would be wise to update the malware security program in the computer. This course of action would be effective in the prevention and reduction of accounting information becoming public domain.

http://www.conference-board.org/retrievefile.cfm?filename=TCB-DN-V4N12

Hello Marie,

I also agree with your comment of how Target was so care-less in its cyber security. You would think a corporation like Target, would have the foresight in knowing that this issue can occur and anticipate such as an attack to its secure computer system.

Antonette

Professor Stanley,

I also recently read that, in 2013 Apple has been a victim of a cyber-attack. The Reuter press agency inflamed reports that the attacker breach the system to obtain codes for apps on smartphones, seeking a way to infect millions of end-users. These encourage developers to check their source code for unintended changes. Apple representative made the assumption that this breach could have been engaged by the Chinese military in a cyber-espionage on U.S. companies at this time the authorities have not found the culprits to this attack on the Apple corporation.

http://www.cyberdefensemagazine.com/after-twitter-and-facebook-also-apple-has-been- hacked/#sthash.QMIyHEwu

Antonette

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