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Companies should not be held liable for losses sustained in a successful attack made on their AIS Answer

Write a paper arguing for or against the following statement: “Companies should not be held liable for losses sustained in a successful attack made on their AIS by outside sources.” You are required to support your arguments.

The layout of the paper must follow one of the styles (APA, etc.) that are listed in the syllabus. The body of the paper must be at least 750 words, not including the cover page, page/section headings, or the reference page. It must also include several in-text citations from outside sources.

In this paper, I am going to present about an accounting information system attacks and failures: who to blame. I am also going to discuss the following related topics in the following order:

Firstly, I will take a position on whether a firm and its management team should or should not be held liable for losses sustained in a successful attack made on their AIS by outside source. Secondly, I will suggest who should pay for the losses, to whom, and state why. Thirdly, I will give my opinion regarding the role, if any; the federal government should have deciding and enforcing remedies and punishment. Finally, I will evaluate how AIS can contribute or not to contribute to the losses.

A Firm and its Management Team Should Be Held Liable for the Losses

According to the Control Objectives for Information and Related Technology (COBIT) framework and the Trust Services framework, achieving organization’s business and governance objective require adequate control over IT resources. IT processes must be properly managed and controlled in order to produce information that satisfies the seven criteria: effectiveness, efficiency, confidentiality, integrity, availability, compliance and reliability. These IT processes are grouped into the following four management activities or domains (Romney & Steinbart, 2012).

  1. Plan and Organize (PO),
  2. Acquire and Implement (AI),
  3. Deliver and Support (DS), and
  4. Monitor and Evaluate (ME).

 

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General Electric made a coupon payment yesterday on its 6.75% bonds Answer

A3. (Bond valuation) General Electric made a coupon payment yesterday on its 6.75% bonds that mature in 8.5 years. If the required return on these bonds is 8% APR, what should be the market price of these bonds?

A13. (Required return for a preferred stock) Sony $4.50 preferred is selling for $65.50. The preferred dividend is nongrowing. What is the required return on Sony preferred stock?

A15. (Stock valuation) Let’s say the Mill Due Corporation is expected to pay a dividend of $5.00 per year on its common stock forever into the future. It has no growth prospects whatsoever. If the required return on Mill Due’s common stock is 14%, what is a share worth?

B15. (Interest-rate risk) A quick look at bond quotes will tell you that GMAC has many different issues of bonds outstanding. Suppose that four of them have identical coupon rates of 7.25% but mature on four different dates. One matures in 2 years, one in 5 years, one in 10 years, and the last in 20 years. Assume that they all made coupon payments yesterday.

a.     If the yield curve were flat and all four bonds had the same yield to maturity of 9%, what would be the fair price of each bond today?

b.     Suppose that during the first hour of operation of the capital markets today, the term structure shifts and the yield to maturity of all these bonds changes to 10%. What is the fair price of each bond now?

c.     Suppose that in the second hour of trading, the yield to maturity of all these bonds changes once more to 8%. Now what is the fair price of each bond?

d.     Based on the price changes in response to the changes in yield to maturity, how is interest-rate risk a function of the bond’s maturity? That is, is interest-rate risk the same for all four bonds, or does it depend on the bond’s maturity?
B17. (Default risk) You buy a very risky bond that promises an 8.8% coupon and return of the $1,000 principal in 10 years. You pay only $500 for the bond.
 a.     You receive the coupon payments for two years and the bond defaults. After liquidating the firm, the bondholders receive a distribution of $150 per bond at the end of 2.5 years. What is the realized return on your investment?
 b.     The firm does far better than expected and bondholders receive all of the promised interest and principal payments. What is the realized return on your investment?

 

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