Business Areas to Control
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List three areas that need to be controlled to protect business and why.
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Solution Summary
Lists three areas that need to be controlled to protect business and why.
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These AREAS THAT NEED TO BE CONTROLLED TO PROTECT BUSINESS are often separated into three major control areas: management controls, operational controls, and technical controls.
1. Management Controls
• Risk Management
• Review of Security Controls
• Life Cycle Maintenance
• Authorize Processing
• System Security Plan
Why is it important?
Management accountability is the expectation that managers are responsible for the quality and timeliness of program performance, increasing productivity, controlling costs and mitigating adverse aspects of agency operations, and assuring that programs are managed with integrity and in compliance with applicable law.
Management controls are the organization, policies, and procedures used to reasonably ensure that (i) programs achieve their intended results; (ii) resources are used consistent with agency mission; (iii) programs and resources are protected from waste, fraud, and mismanagement; (iv) laws and regulations are followed; and (v) reliable and timely information is obtained, maintained, reported and used for decision making. http://www.whitehouse.gov/omb/circulars/a123/a123.html
2. Operational Controls (security mechanisms implemented by people)
• Personnel Security
• Physical Security
• Production, Input/Output Controls
• Contingency Planning
• Hardware and Systems Software
• Data Integrity and Accreditation
• Documentation
• Security Awareness, Training, and Education
• Incident Response Capability
Why is it important?
Operational risk arises from the potential that inadequate information systems, operational problems, breaches in internal controls, fraud, or unforeseen catastrophes will result in losses or compromise the financial or reputational integrity of the FBO (see more at ...
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