I. Title: AlphaCo Information Technology Auditing and
Security
II. Overview:
Competencies assessed in this project:
▪ Risk assessment, analysis, & management,
▪ Analysis & decision making,
▪ Research, and
▪ Technology, systems, & process mgt.
Overview:
Based on your passion for IT Auditing, you decide to seek
employment in the industry. Within a few months of graduating, you are hired as
an IT auditor by AlphaCo. Shortly after getting hired, you learn that AlphaCo’s
order processing systems were hacked. You’re excited to be involved in creating
a response to the hacking incident by following the steps below.
III. Steps to Completion:
Step 1: As AlphaCo’s IT Auditor, you begin by reading
background information about the hacking incident.
Read the case study: AlphaCo: A teaching case on information
technology audit & security
Step 2: Study the graphs, tables, and charts in the case
appendices. Study the
COSO Framework and COBIT Framework.
Step 3: Prepare a report of the hacking incident that
includes the following:
▪ An evaluation of the Auditor Response (pp. 51-53).
Hint: use your knowledge of U.S. GAAP, auditing standards, and business sense
to support your position.
▪ A summary of internal control weaknesses that allowed the
fraud to occur, referencing the COSO Framework.
▪ A plan to mitigate future hacking and enhance IT controls
at AlphaCo,
referencing the COBIT Framework.
Hint: Write only a few sentences to introduce the purpose of
the report. Do not
reiterate the case facts as your report. Your professor has
read the case and is interested in reading your responses to the three bulleted
points above.
Step 4: Prepare a presentation suitable for the Board of
Directors. It should be detailed enough for the Board to understand how
internal controls were insufficient, yet not overly technical. Some Board
members are not familiar with IT terminology so explain the slides in language
a lay person could understand.
Further, your presentation must outline your IT plan to
thwart hacking and other types of fraud.
Assume your professor is the chairperson of the Board of
Directors.
IV. Deliverables
▪ A Word document in APA format (double spacing).
Approximately 6 pages, excluding the cover sheet, appendices if any, and
references.
▪ A PowerPoint presentation file (approximately 10-18
slides) and two presentation options:
1) Create an audio-enhanced slide deck that runs
continuously like a
video, without requiring the professor to click any keys.
Speaker’s notes must be placed under each slide.
