IT Audit News

China Projected to Be on Par with US As Future Tech Innovation Leader

China Projected to Be on Par with US As Future Tech Innovation Leader

China and the US will be at the forefront, with cloud enabling both the next indispensable consumer technology and business transformation for enterprises. Mobile technologies will continue to build on cloud, providing the tech breakthrough that will transform businesses. This was according to the 2012 Global Technology Innovation survey released by KPMG LLP (USA), which [...]

Managing Risks of Cloud Computing the Focus of COSO’s Latest Thought Leadership

Managing Risks of Cloud Computing the Focus of  COSO’s Latest Thought Leadership

In response to the growing number of organizations utilizing cloud computing as a viable alternative for meeting their technology needs, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) has published a new thought paper titled Enterprise Risk Management for Cloud Computing. As with any new technology, cloud computing entails commensurate risks. The thought [...]

Data ‘arms Race’ Has Already Been Lost, Says KPMG

Data ‘arms Race’ Has Already Been Lost, Says KPMG

UK businesses are spending so much time gathering customer and competitive data that they risk losing sight of the information that can genuinely build market share as they try to survive continued economic uncertainty, according to KPMG Management Consulting. Speaking ahead of the Big Data Analytics 2012 conference in London, Eddie Short, partner and head [...]

CPA2Biz Sees Cloud-Based Technology at Tipping Point in Accounting

CPA2Biz Sees Cloud-Based Technology at Tipping Point in Accounting

Most CPA firm leaders are asking themselves the wrong question when it comes to technology, according to Erik Asgeirsson, president and CEO of CPA2Biz. “The time for wondering if your firm should move to the cloud is past,” Asgeirsson said as CPAs gathered for the AICPA Practitioners Symposium and Tech+ Conference, the largest annual event [...]

Challenge for Media Companies Now Lies in Digital Strategies Implementation

Challenge for Media Companies Now Lies in Digital Strategies Implementation

Digital migration is increasingly playing out differently across the various segments and geographies of the entertainment and media industry says PwC’s Global Entertainment and Media Outlook 2012-2016. Despite ongoing economic uncertainty, the past year has seen global sales of tablets and smart devices reach record levels once again, underlining the growing revenue opportunities from digital [...]

Data Security Risks Rising

Data Security Risks Rising

With recent reports of data breaches to major companies within the UK and abroad, the issue of data security and protection is more important now than ever before. It appears any business is vulnerable, with Visa, Mastercard, Google, the CIA, the NHS, Sony and Citibank among just a few of the organisations to become recent [...]

Avoid Trap of Over-analysis to Benefit from ‘Big Data’, Says KPMG

Avoid Trap of Over-analysis to Benefit from ‘Big Data’, Says KPMG

Organisations need to avoid over-analysing the data on their doorstep if they are going to reap the true benefits of ‘big data’, according to KPMG Management Consulting. ‘Big Data’ is rapidly becoming the 2012 corporate must-have, as it offers massive opportunities to gather real-time intelligence and drive product or service delivery decisions. However, the volume [...]

Gmail Does Down, Reason Remains Unclear

Gmail Does Down, Reason Remains Unclear

More than 350 million users worldwide have been affected when Google’s webmail service went down for more than 45 minutes. Google announced the trouble with Gmail in their apps status dashboard at 5.42pm EST after receiving several reports of errors from users. Overall, fewer than 2 percent of Gmail users were affected. Gmail users could [...]

Kaspersky Lab Fixes Flashfake Removal Tool, Releases Updated Version

Kaspersky Lab Fixes Flashfake Removal Tool, Releases Updated Version

Kaspersky Lab has fixed its free Kaspersky Flashfake Removal Tool. A bug was identified in the original version of the tool, which was first reported at approximately 17:40 MSK (GMT+4) on April 12. The tool was taken offline for maintenance. A new version of the tool with the necessary updates was released at 3:30 MSK [...]

600,000+ Bots Behind Latest Mac Virus

600,000+ Bots Behind Latest Mac Virus

Several months after the disappearance of a fake anti-virus applications for OS X that followed the arrest of Russian cybercriminal, Pavel Vrublevsky, another widespread malware infections are affecting users of Apple’s vulnerable operating system. The new Mac virus does not appear to rely on social engineering or human error. According to Graham Cluley of Sophos, [...]

Shift to Mobile Commerce Spurs Revenue Leakage, Fraud, Warns Telecom Operators

Shift to Mobile Commerce Spurs Revenue Leakage, Fraud, Warns Telecom Operators

Most of telecom operators worldwide (94 percent) expect the threat of revenue leakage to increase and almost half of them (49 percent) believe the increase will be significant, according to a global survey conducted by advisory firm KPMG. The research found that the increased risk has been driven by complex network systems, the rise of [...]

Consulting Firm Warns Firms to Take Privacy and Security ‘More Seriously’

Consulting Firm Warns Firms to Take Privacy and Security ‘More Seriously’

The majority of technology companies in Europe and the Middle East (59 percent) regard data privacy and security as a back office requirement rather than a strategic issue to be communicated and leveraged with clients, according to KPMG’s latest Business Leaders Survey. And just seven percent of senior technology company executives said that “addressing risk [...]

Data Security Breach Scare Spreads Like Wildfire

Data Security Breach Scare Spreads Like Wildfire

Concerns about data security and protection have intensified with recent reports of data breaches to major companies within the UK and abroad. There have been apprehensions of late that any business can be the next target, with Visa, Mastercard, Google, the CIA, the NHS, Sony and Citibank having been a few of the organisations to [...]

Could Security Risks Strike High-profile Business?

Could Security Risks Strike High-profile Business?

In light of the alarming security threats befalling business enterprises nowadays, many boards of directors in some high-profile companies are asking their executive teams about the possibility that they might be the next target. This was discussed in Deloitte’s “Risk Intelligent governance in the age of cyber threats: What you don’t know could hurt you,”, [...]

Zeus Variant Targeting Online Banking Customers in UK, US

Zeus Variant Targeting Online Banking Customers in UK, US

Security firm Trusteer has spotted a “concerning development” in some new Ice IX configurations that target online banking customers in the UK and US. Ice IX is a modified variant of the ZeuS financial malware platform that captures information on telephone accounts belonging to the victims, allowing attackers to divert calls from the bank intended [...]

Weaknesses in Fraud Prevention Controls Exposed

Weaknesses in Fraud Prevention Controls Exposed

The Federal Bureau of Investigation has warned that high detection accuracy of fraudulent transactions alone does not help in preventing cybercrime, following the discovery of Zeus variant, Gameover. According to security firm Trusteer, this attack can circumvent post transaction fraud prevention measures, citing the FBI’s findings saying that this campaign purports “to be legitimate e-mails [...]

‘In-car Internet Could Threaten Automotive Industry’

‘In-car Internet Could Threaten Automotive Industry’

The emerging alliance between car manufacturers and IT companies to turn cars into internet gateways poses a potential threat to the automotive industry, according to McAfee’s chief technology officer. “With Ericsson forecasting 50 billion IP-connected devices by 2020, up from 1 billion just a year ago, KPMG’s report into connected cars come as no surprise. [...]

Android Hit with New Fraudulent Apps

Android Hit with New Fraudulent Apps

Experts from security firm and Norton-dealer, Symantec, has found a new fraudulent application that hit the Android marketplace called Android.Steek, which capitalizes on popular game titles and purporting as these games. Symantec said the malicious applications are published under the name “Stevens Creek Software”, whose infection length has reached nearly 3,500,000 bytes. The security firm [...]

Kaspersky Experts Dig Other Malware Belonging to Stuxnet, Duqu Family

Kaspersky Experts Dig Other Malware Belonging to Stuxnet, Duqu Family

A team of hackers has been confirmed to be behind the malware programs that belong to the family of Stuxnet and Duqu Trojans, according to experts from Kaspersky Lab who assume that ” a single platform was used, which is flexibly adaptable to specific targets.” Kaspersky said this platform appeared to have been in existence [...]

Vulnerability in Wi-Fi Routers Disclosed

Vulnerability in Wi-Fi Routers Disclosed

Users who have recently received Wi-Fi routers as gifts last Christmas might want to think twice before enabling the encryption built in most commercial devices as security researchers discovered a barely noticeable vulnerability in such a practice. In a technology called the “Wi-Fi Protected Setup” (WPS) initially intended by the wireless industry to ease the [...]