Accounting information system

Referencing this week’s readings and lecture, identify unique problems and risks associated with accounting information systems. In addition, discuss two practical examples of specific problems and how risk could have been mitigated from these problems.

Part 2

View the IT Networks (Links to an external site.) video and referencing this week’s lecture, discuss the potential threats to the security of an organization’s network. What are some of the strengths and limitations of a wired versus wireless system?

Requirements: 2 Pages

Weekly Lecture

What is risk? According to Fadun (2013), “risk is commonly associated with uncertainty, as the event may or may not occur and is an essential part of business because firms cannot operate without taking risks” (p. 225). According to Laudicina (2005), risk is an inevitable component of doing business both domestically and globally. The most successful companies understand that growth requires risk because passive operations fail to capitalize on a company’s growth potential. Key to positive risk is “distinguishing between smart risks from dangerous gambles” (Laudicina, 2005, para. 2). The first step in understanding risk is being able to identify risk in the correct context. Risk identification is a tricky and complex process that requires an abstract look at the unquantifiable risks that could cause permanent damage to a company (Schwartz & Gibb, 1999). Once identified, the next step in the risk process is to mitigate that risk.