Cyber Security Operations Centre ( Csoc ) Investigates And...

Cyber Security Operations Centre (CSOC) investigates and analysis cyber-attacks on UK Networks and provide solutions and means to mitigate future attack. Its job is in cyber forensics and incident response while the Government Computer Emergency Response Team (GovCERT) deals with the public sector organisations on issues relating to computer security incidents, warnings, alerts, assistance and advice to prevent, reduce expose and mitigate attacks. The National Crime Agency formed in Oct 2013 to replace the Serious Organised Crime Agency. It also inherited the National Cyber Crime Unit and Police e-Crime Unit in the fight against organised crime. This is the lead agency in UK law enforcement and works in partnership with other law enforcement agency in the country. MOD Cyber Command and Control. The role of the MOD in the National cyber strategy is to protect and defend its own systems and networks. Bearing this responsibility is the Joint force command (JFC) which is made up of fourteen organisations including the Defence Cyber Operations Group (DCOG). Its role is to ensure the success of military operations through joint capabilities. Under the JFC is the office of the Chief of Defence Intelligence (CDI) and is responsible for Defence Intelligence, providing Defence and its partner agencies with intelligence and assessment. CDI is also responsible for cyber operations. Also under the office of the JFC is the information systems and services organisation (ISS). The

Analysis Of The Poem Crucible - 1162 Words

Michael DeJesus English 11 Dowling Per. 0 October 27 2014 Crucible Short Answer Questions Act 1 The irony in this statement is that they created this civilization in order to have religious freedom, but they only want religious freedom for themselves The witch-hunt years were a time of general revenge because the grudges that were present in the town turned into witch accusations. It gave people with grudges an opportunity to hurt the people they were against Tituba is the slave of Parris, who is from Barbados. Abigail is the niece of Parris. Her parents died in front of her. She is the main accuser of the witches. Betty is Parris’s daughter who is ill and unconscious at the beginning of the play. Mrs. Putnam believes there are witches in Salem because she thinks her babies died due to witchcraft. Thomas Putnam is bitter because his wife’s brother in law was rejected as a minister. Also, he tries to break his father’s will, which left too much to his step-brother Parris says this because he has brought Abigail in and taken care of her. However, in return, she has brought nothing but trouble. Mary argues that the girls should confess in order to avoid getting a harsh punishment. Abigail rejects this idea. Proctor is a farmer in his thirties. He has a wife and three children. Abigail and John Proctor were having an affair. This was shocking because Abigail is much younger than Proctor. The sign that Betty was bewitched was that she could not stand to hear the Lord’s name.Show MoreRelatedAnalysis Of The Poem The Crucible Ladies And Gentlemen Of The Byron Bay 1206 Words   |  5 Pagesto make its mark. As an avid poetry lover, I wholeheartedly believe that the poem,‘Remembrance’ by Emily Bronte and its complimenting song, ‘Helena’ by My Chemical Romance should be read aloud at the Byron Bay Poetry Festival, as they both touch on such a relevant subject that has been so curiously pondered by both the young and old since the beginning of time. Today, I will analyse both of these truly incredible poems that use aesthetic features such as the powerful theme of life and death, alongRead MoreThe Freedom Writers And Romeo And Juliet905 Words   |  4 Pageswe read Lord Of the Flies and Of Mice and Men among other books were we would always have an easy question followed by an essay. In both of these classes helped me develop structure ca lled tieac which stands for topic, intro to evidence, evidence, analysis, and conclusion. Both my freshmen teachers helped me develop this structure for my essays. Our essays had to be typed in 12 inch font but we didn t have an official format that we had to go by. Sophomore year I had the same English 9 teacher forRead MoreNathaniel Hawthorne s The Mind1900 Words   |  8 Pagesmesmerized by. These men were very successful writers and shared many of the same techniques within their stories. Carl Jung was born July 26, 1875, he died June 6, 1961. He was known for studying the human psychology. He was mainly interested in dream analysis and the collective unconscious. Carl Jung is another successful writer, during his career he was able to meet Sigmund Freud who was a huge inspiration to him. All three men Sigmund Freud, Nathaniel Hawthorne, and Carl Jung all had the same generalRead MoreSupernatural in American Fiction Essay2928 Words   |  12 PagesMankind would never submit to this. He will immediately turn to the darkness. Drawn by his own cords of fear and longing, man will imagine that he is tired of the light and his small, familiar world.3 No amount of rationalization... or Freudian analysis can overcome the thrill of the chimney-corner whisper or the lonely wood.4 Why? Children will always be afraid of the dark and men will always shudder at what they do not understand, yet everyone will continue to seek it. Perhaps it is becauseRead MoreHow To Write Literary Analysis4174 Words   |  17 PagesHow To Write Literary Analysis The Literary Essay: A Step-by-Step Guide When you read for pleasure, your only goal is enjoyment. You might find yourself reading to get caught up in an exciting story, to learn about an interesting time or place, or just to pass time. Maybe you’re looking for inspiration, guidance, or a reflection of your own life. There are as many different, valid ways of reading a book as there are books in the world. When you read a work of literature in an English classRead MoreHAMLET AND ORESTES10421 Words   |  42 Pageswith character, though in the course of the comparison I shall of course consider the situations in which my heroes are placed, and the other persons with whom they are associated. Orestes in Greek occurs in poem is very clearly a traditional character. He after poem, in tragedy after tragedy, varying slightly in each one but always true to type. He is, I think, the most central and typical tragic hero on the Greek stage; and he ^eight if we occurs in no less thanRead MoreRastafarian79520 Words   |  319 PagesJamaicans regard as their cultural contribution to the world. Later I will return to these issues and will demonstrate how they contribute to the routinization of Rastafari in Jamaica. The nature of this book dictates a heavy reliance on documentary analysis. My focus is interpretation not ethnography. Therefore, I have not sought to generate primary data on the movement but to analyze and re-analyze the growing body of scholarly and popular literature on the movement, including sociological and anthropologicalRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesof systematic study. Identify the major behavioral science disciplines that contribute to OB. Demonstrate why few absolutes apply to OB. Identify the challenges and opportunities managers have in applying OB concepts. Compare the three levels of analysis in this book’s OB model. MyManagementLab Access a host of interactive learning aids to help strengthen your understanding of the chapter concepts at www.mymanagementlab.com cott Nicholson sits alone in his parents’ house in suburban Boston

Itt221 Week 1 Research Assignment Part 1 Free Essays

Research Assignment, Part One Brandon Kelly IT221 – E-2 Fall 2011 Instructor: Stephen Todd 12-17-2011 Question 1 – Why does Windows Server 2008 come in different versions? What is the significance of each version? Most editions of Windows Server 2008 are available in x86-64 and IA-32 versions. Windows Server 2008 for Itanium-based Systems supports IA-64 processors. Microsoft has optimized the IA-64 version for high-workload scenarios like database servers and Line of Business (LOB) applications. We will write a custom essay sample on Itt221 Week 1 Research Assignment Part 1 or any similar topic only for you Order Now As such it is not optimized for use as a file server or media server. Microsoft has announced that Windows Server 2008 is the last 32-bit Windows server operating system. Windows Server 2008 is available in the editions listed below, similar to Windows Server 2003. †¢ Windows Server 2008 Standard (IA-32 and x86-64) Windows Server 2008 Standard is one of Microsoft’s entry level server offerings (alongside Windows Web Server 2008) and is one of the least expensive of the various editions available. Both 32-bit and 64-bit versions are available, and in terms of hardware Standard Edition supports up to 4GB of RAM and 4 processors. Windows Server 2008 is primarily targeted and small and mid-sized businesses (SMBs) and is ideal for providing domain, web, DNS, remote access, print, file and application services. Support for clustering, however, is notably absent from this edition. An upgrade path to Windows Server 2008 Standard is available from Windows 2000 Server and Windows Server 2003 Standard Edition. †¢ Windows Server 2008 Enterprise (IA-32 and x86-64) Windows Server 2008 Enterprise Edition provides greater functionality and scalability than the Standard Edition. As with Standard Edition both 32-bit and 64-bit versions are available. Enhancements include support for as many as 8 processors and up to 64GB of RAM on 32-bit systems and 2TB of RAM on 64-bit systems. Additional features of the Enterprise edition include support for clusters of up to 8 nodes and Active Directory Federated Services (AD FS). Windows Server 2000, Windows 2000 Advanced Server, Windows Server 2003 Standard Edition and Windows Server 2003 Enterprise Edition may all be upgraded to Windows Server 2008 Enterprise Edition. †¢ Windows Server 2008 Datacenter (IA-32 and x86-64) The Datacenter edition represents the top end of the Windows Server 2008 product range and is targeted at mission critical enterprises requiring stability and high uptime levels. Windows Server 2008 Datacenter edition is tied closely to the underlying hardware through the implementation of custom Hardware Abstraction Layers (HAL). As such, it is currently only possible to obtain Datacenter edition as part of a hardware purchase. As with other versions, the Datacenter edition is available in 32-bit and 64-bit versions and supports 64GB of RAM on 32-bit systems and up to 2TB of RAM on 64-bit systems. In addition, this edition supports a minimum of 8 processors up to a maximum of 64. Upgrade paths to Windows Server 2008 Datacenter Edition are available from the Datacenter editions of Windows 2000 and 2003. †¢ Windows HPC Server 2008 (Codenamed â€Å"Socrates†) (replacing Windows Compute Cluster Server 2003) Windows HPC Server 2008 R2, the Microsoft third-generation HPC solution, provides a comprehensive and cost-effective solution for harnessing the power of high-performance computing. Out-of-the-box, world-class performance, and scalability enable organizations of all sizes to rapidly deploy solutions ranging from personal HPC workstations to large clusters spanning thousands of nodes. Customers can lower both their operating and capital costs. Windows HPC Server 2008 R2 integrates easily with existing IT infrastructure to enable end users to access HPC resources using familiar Windows-based technologies. With a tightly integrated set of dedicated cluster and parallel development tools, anchored around Visual Studio 2010, developers can build robust and scalable HPC applications easily and quickly. Windows HPC Server 2008 R2 is complemented by a rich ecosystem of SI, ISV, and OEM partners to ensure that customers have access to the applications of their choice and the resources required to successfully run them. †¢ Windows Web Server 2008 (IA-32 and x86-64) Windows Web Server 2008 is essentially a version of Windows Server 2008 designed primarily for the purpose of providing web services. It includes Internet Information Services (IIS) 7. 0 along with associated services such as Simple Mail Transfer Protocol (SMTP) and Telnet. It is available in 32-bit and 64-bit versions and supports up to 4 processors. RAM is limited to 4GB and 32GB on 32-bit and 64-bit systems respectively. Windows Web Server 2008 lacks many of the features present in other editions such as clustering, BitLocker drive encryption, multipath I/O, Windows Internet Naming Service (WINS), Removable Storage Management and SAN Management †¢ Windows Storage Server 2008 (Codenamed â€Å"Magni†) (IA-32 and x86-64) Minimal information found. †¢ Windows Small Business Server 2008 (Codenamed â€Å"Cougar†) (x86-64) for small businesses Minimal information found. Windows Server 2008 for Itanium-based Systems Windows Server 2008 R2 for Itanium-Based Systems delivers an enterprise-class platform for deploying business-critical applications. Scale database, line-of-business, and custom applications to meet growing business needs. Windows Server 2008 R2, SQL Server 2008 R2 and the current 2010 line-up of our Developer Tools, plus associated . NET frameworks, will be the last iterations in each product line t o support the Intel Itanium processor and associated OEM server platforms. Windows Server 2008 Foundation (Codenamed â€Å"Lima†) Windows Server 2008 R2 Foundation is a cost-effective, entry-level technology foundation targeted at small business owners and IT generalists supporting small businesses. Foundation is an inexpensive, easy-to-deploy, proven, and reliable technology that provides organizations with the foundation to run the most prevalent business applications as well as share information and resources. Server Core is available in the Web, Standard, Enterprise and Datacenter editions. It is not available in the Itanium edition. Server Core is simply an alternate installation option supported by some of the editions, and not a separate edition by itself. Each architecture has a separate installation DVD. The 32-bit version of Windows Server 2008 Standard Edition is available to verified students for free through Microsoft’s DreamSpark program. Question 2 – What are the new features or enhancements made to Windows Server 2008? How is Windows Server 2008 different from Windows Server 2003? Core OS improvements †¢ Fully multi-componentized operating system. †¢ Improved hot patching, a feature that allows non-kernel patches to occur without the need for a reboot. Support for being booted from Extensible Firmware Interface (EFI)-compliant firmware on x86-64 systems. †¢ Dynamic Hardware Partitioning o Support for the hot-addition or replacement of processors and memory, on capable hardware. Active Directory improvements †¢ Read-only domain controllers (RODCs) in Active Directory, intended for use in branch office or other scenarios where a domain controller may reside in a low physical security environment. The RODC holds a non-writeable copy of Active Directory, and redirects all write attempts to a Full Domain Controller. It replicates all accounts except sensitive ones. citation needed][clarification needed] In RODC mode, credentials are not cached by default. Moreover, only the replication partner of the RODC needs to run Windows Server 2008. [clarification needed] Also, local administrators can log on to the machine to perform maintenance tasks without requiring administrative rights on the domain. †¢ Restartable Active Directory allows ADDS to be stopped and restarted from the Management Console or the command-line without rebooting the domain controller. This reduces downtime for offline operations and reduces overall DC servicing requirements with Server Core. ADDS is implemented as a Domain Controller Service in Windows Server 2008. Policy related improvements †¢ All of the Group Policy improvements from Windows Vista are included. Group Policy Management Console (GPMC) is built-in. The Group Policy objects are indexed for search and can be commented on. †¢ Policy-based networking with Network Access Protection, improved branch management and enhanced end user collaboration. Policies can be created to ensure greater Quality of Service for certain applications or services that require prioritization of network bandwidth between client and server. Granular password settings within a single domain – ability to implement different password policies for administrative accounts on a â€Å"group† and â€Å"user† basis, instead of a single set of password settings to the whole domain. Disk management and file storage improvements †¢ The ability to resize hard disk partitions without stopping the server, even th e system partition. This applies only to simple and spanned volumes, not to striped volumes. †¢ Shadow Copy based block-level backup which supports optical media, network shares and Windows Recovery Environment. DFS enhancements – SYSVOL on DFS-R, Read-only Folder Replication Member. There is also support for domain-based DFS namespaces that exceed the previous size recommendation of 5,000 folders with targets in a namespace. †¢ Several improvements to Failover Clustering (High-availability clusters). †¢ Internet Storage Naming Server (iSNS) enables central registration, deregistration and queries for iSCSI hard drives. Protocol and cryptography improvements †¢ Support for 128- and 256-bit AES encryption for the Kerberos authentication protocol. New cryptography (CNG) API which supports elliptic curve cryptography and improved certificate management. †¢ Secure Socket Tunneling Protocol, a new Microsoft proprietary VPN protocol. †¢ AuthIP, a Micro soft proprietary extension of the IKE cryptographic protocol used in IPsec VPN networks. †¢ Server Message Block 2. 0 protocol in the new TCP/IP stack provides a number of communication enhancements, including greater performance when connecting to file shares over high-latency links and better security through the use of mutual authentication and message signing. Miscellaneous improvements Windows Deployment Services replacing Automated Deployment Services and Remote Installation Services. Windows Deployment Services (WDS) support an enhanced multicast feature when deploying operating system images. †¢ Internet Information Services 7 – Increased security, Robocopy deployment, improved diagnostic tools, delegated administration. †¢ Windows Internal Database, a variant of SQL Server Express 2005, which serves as a common storage back-end for several other components such as Windows System Resource Manager, Windows SharePoint Services and Windows Server Update Se rvices. It is not intended to be used by third-party applications. †¢ An optional â€Å"Desktop Experience† component provides the same Windows Aero user interface as Windows Vista, both for local users, as well as remote users connecting through Remote Desktop. Question 3 – Why is 64-bit architecture an advantage? Advantages of 64-bit hardware and software Memory addressability Physical memory A 32-bit system architecture can directly address only a 4-GB address space. A 64-bit system architecture that is running a 64-bit edition of Windows Server can support up to 1,024 GB of both physical and addressable memory. Virtual memory The 64-bit editions of Windows Server can address 16 terabytes of virtual memory by using a flat addressing model. Virtual memory is divided equally between virtual address space for applications and the operating system. Even 32-bit applications can benefit from increased virtual memory address space when they are running in a 64-bit environment. For example, although a 32-bit application is still restricted to 4 GB of virtual memory, it no longer has to share that memory space with the operating system. As a result, it receives an effective increase in available virtual memory. Continuous memory Poor performance in 32-bit systems is often not the result of a lack of available memory, but the unavailability of large enough blocks of continuous memory. In a typical Windows SharePoint Services 3. 0 deployment, Windows, Internet Information Services (IIS), common language runtime (CLR), ASP. NET, SharePoint Products and Technologies, SSPs, and MDACs can all claim a portion of a server’s available virtual memory and can leave a 32-bit address space quite fragmented. When the CLR or SharePoint services request new memory blocks, it can be difficult to find a 64-MB segment in the crowded 32-bit address space. A 64-bit system offers practically unlimited address space for user mode processes. Better parallel processing A server that is using 32-bit architecture is limited to 32 CPUs. Improvements in parallel processing and bus architectures enable 64-bit environments to support as many as 64 processors and provide almost linear scalability with each additional processor. Faster bus architecture A 64-bit architecture provides more and wider general-purpose registers, which contribute to greater overall application speed. When there are more registers, there is less need to write persistent data to memory and then have to read it back just a few instructions later. Function calls are also faster in a 64-bit environment because as many as four arguments at a time can be passed in registers to a function. More secure The 64-bit editions of Windows Server offer the following enhanced security features: Buffer overflow protection A buffer overflow occurs when a data buffer is congested with more data than it is designed to handle. In 64-bit editions of Windows Server, the first parameters of a procedure call are passed in registers. As a result, it is less likely that the buffer will overflow, because the correct values have to be set up in registers and the variables and addresses have to be aligned on the stack. Data execution protection The 64-bit processors made by AMD and Intel include hardware support for data execution prevention (DEP). Windows Server uses DEP to prevent malicious code from being able to execute, even when a buffer overrun occurs. Even without a processor that supports DEP, Windows Server can detect code that is running in memory locations where it should not be. Patch Guard Microsoft Patch Guard technology prevents non-Microsoft programs from patching the Windows kernel. This technology prevents kernel mode drivers from extending or replacing kernel services, including system service dispatch tables, the interrupt descriptor table (IDT), and the global descriptor table (GDT). Third-party software is also prevented from allocating kernel stacks or patching any part of the kernel. Better scalability In a 64-bit environment, not only can database servers gain nearly unlimited virtual memory address space, but they also gain support for more physical memory. It is possible for a 64-bit server that is running 64-bit editions of Windows Server and SQL Server to get very large working data sets entirely into RAM, thereby improving performance and scalability. In addition, the number of application servers that are required to support a given user base can be substantially reduced because a 64-bit environment does not require worker processes to cycle as often. This reduced cycling results in fewer lost connections, improved I/O handling, and a better user experience. Lower total cost of ownership All the benefits of 64-bit operation that are listed in the previous sections enable you to do more with less. A 64-bit environment allows you to manage more data, serve more users, and run more applications while using less hardware. By reducing hardware, you are also able to reduce license, operations, and infrastructure costs. It takes up less floor space in your data center and costs less to maintain. Finally, because a Windows SharePoint Services 3. 0 farm that uses 64-bit hardware and software provides more room for growth, you can spend less over time on equipment because the life cycle of your equipment is likely to be longer. Question 4 – Explain the new features of Windows Server 2008, such as Server Core, Virtualization, and PowerShell. What is the role of these features and how will they improve efficiency in administering Windows? Server Core Windows Server 2008 includes a variation of installation called Server Core. Server Core is a significantly scaled-back installation where no Windows Explorer shell is installed. All configuration and maintenance is done entirely through command line interface windows, or by connecting to the machine remotely using Microsoft Management Console. However, Notepad and some control panel applets, such as Regional Settings, are available. Server Core does not include the . NET Framework, Internet Explorer, Windows PowerShell or many other features not related to core server features. A Server Core machine can be configured for several basic roles: Domain controller/Active Directory Domain Services, ADLDS (ADAM), DNS Server, DHCP Server, file server, print server, Windows Media Server, IIS 7 Web server and Hyper-V virtual server. Server Core can also be used to create a cluster with high availability using failover clustering or network load balancing. Andrew Mason, a program manager on the Windows Server team, noted that a primary motivation for producing a Server Core variant of Windows Server 2008 was to reduce the attack surface of the operating system, and that about 70% of the security vulnerabilities in Microsoft Windows from the prior five years would not have affected Server Core. Hyper-V Hyper-V is hypervisor-based virtualization software, forming a core part of Microsoft’s virtualization strategy. It virtualizes servers on an operating system’s kernel layer. It can be thought of as partitioning a single physical server into multiple small computational partitions. Hyper-V includes the ability to act as a Xen virtualization hypervisor host allowing Xen-enabled guest operating systems to run virtualized. A beta version of Hyper-V shipped with certain x86-64 editions of Windows Server 2008, prior to Microsoft’s release of the final version of Hyper-V on 26 June 2008 as a free download. Also, a standalone version of Hyper-V exists; this version only supports the x86-64 architecture. While the IA-32 editions of Windows Server 2008 cannot run or install Hyper-V, they can run the MMC snap-in for managing Hyper-V. Server Manager Server Manager is a new roles-based management tool for Windows Server 2008. It is a combination of Manage Your Server and Security Configuration Wizard from Windows Server 2003. Server Manager is an improvement of the Configure my server dialog that launches by default on Windows Server 2003 machines. However, rather than serve only as a starting point to configuring new roles, Server Manager gathers together all of the operations users would want to conduct on the server, such as, getting a remote deployment method set up, adding more server roles etc. , and provides a consolidated, portal-like view about the status of each role. Windows Powershell Windows PowerShell is Microsoft’s task automation framework, consisting of a command-line shell and associated scripting language built on top of, and integrated with the . NET Framework. PowerShell provides full access to COM and WMI, enabling administrators to perform administrative tasks on both local and remote Windows systems. Question 5 – What is a Read Only Domain Controller (RODC) and what are its advantages? What are the security and administrative issues addressed by a RODC? A read-only domain controller (RODC) is a new type of domain controller in the Windows  Server  2008 operating system. With an RODC, organizations can easily deploy a domain controller in locations where physical security cannot be guaranteed. An RODC hosts read-only partitions of the Active  Directory  Domain  Services (AD  DS) database. Before the release of Windows Server  2008, if users had to authenticate with a domain controller over a wide area network (WAN), there was no real alternative. In many cases, this was not an efficient solution. Branch offices often cannot provide the adequate physical security that is required for a writable domain controller. Furthermore, branch offices often have poor network bandwidth when they are connected to a hub site. This can increase the amount of time that is required to log on. It can also hamper access to network resources. Beginning with Windows Server  2008, an organization can deploy an RODC to address these problems. As a result, users in this situation can receive the following benefits: †¢ Improved security †¢ Faster logon times †¢ More efficient access to resources on the network Inadequate physical security is the most common reason to consider deploying an RODC. An RODC provides a way to deploy a domain controller more securely in locations that require fast and reliable authentication services but cannot ensure physical security for a writable domain controller. However, your organization may also choose to deploy an RODC for special administrative requirements. For example, a line-of-business (LOB) application may run successfully only if it is installed on a domain controller. Or, the domain controller might be the only server in the branch office, and it may have to host server applications. In such cases, the LOB application owner must often log on to the domain controller interactively or use Terminal Services to configure and manage the application. This situation creates a security risk that may be unacceptable on a writable domain controller. An RODC provides a more secure mechanism for deploying a domain controller in this scenario. You can grant a non-administrative domain user the right to log on to an RODC while minimizing the security risk to the Active  Directory forest. You might also deploy an RODC in other scenarios where local storage of all domain user passwords is a primary threat, for example, in an extranet or application-facing role. References – Works Cited â€Å"AD DS: Read-Only Domain Controllers. † Microsoft TechNet: Resources for IT Professionals. Web. 7 Dec. 2011. â€Å"Windows Server 2008. † Wikipedia, the Free Encyclopedia. Web. 12 Dec. 2011. Ward10/08/2007, Keith. â€Å"Top 10 Overlooked Windows Server 2008 Features, Part 2 — Redmond Developer News. † Powering the Windows Software Revolution — Redmond Developer News. Web. 03 Jan. 2012 â€Å"Windows Server 2008 Editions and System Requirements – Techotopia. † Main Page – Techotopia. We b. 05 Jan. 2012. â€Å"Microsoft Windows Server 2008 R2 Editions. † Web. 03 Jan. 2012. â€Å"Windows PowerShell. † Wikipedia, the Free Encyclopedia. Web. 01 Jan. 2012. How to cite Itt221 Week 1 Research Assignment Part 1, Essays

Audit - Assurance and Compliance Client and Third Party

Question: Discuss abot theAudit, Assurance and Compliancefor Client and Third Party. Answer: Introduction The main aim of this assignment is develop deep insight about liability of auditor both towards client and the third party associated with it. Along with this, it also describes about auditors independence whether actual or perceived. Independence of auditor is fundamental to the conduct of quality and effective conduct. Moreover, the assignment also includes description about some cases related to auditors independence. Liability of Auditor towards Client and Third Party Auditors are primarily responsible for the preparation and presentation of financial statement and they are required to perform 100% check over all the items recorded on the account. Along with this, the main role of auditor is to develop qualified audit system containing effective control that protects company against all frauds and mistakes. It is also required by auditor to review financial statement of company in a systematic and appropriate manner informing the company about actual position of its financial statement. Moreover, it is the duty of auditor to inform companys management of any irregularities enclosed with financial report of the company (Plessis, et al., 2010). It is also the responsibility of auditor not to show negligence at the time of working for client and the third party linked to the client. Auditors are also liable to perform their duty with diligence and expertise. Furthermore, negligence is defined as wrongful or careless behaviour that cause breach of duty of care and contractual duty. In case of negligence, auditors can be held liable for the loss or damages suffered by third part associated with the client. As auditors owns a duty of care towards third party for damages or loss incurred as a result of negligent misstatement of the financial reports (Latimer, 2012). In the given case, audit firm King and Queen negligently conduct audit of Impulse Pity Ltd. The auditor gives error free report in 2012 without adequately reviewing the financial statement of the company. As a result of this negligent act, third part EFL provides loan to Impulse Pity Ltd by relying on the report provided by King and Queen (auditor). Therefore, in this case King and Queen are liable to reimburse loss suffered by EFL. As the auditor owned duty of care and he breached that duty and due to that breach loss or damages are suffered by the third party. Similar decision was given by court in case of Columbia Coffee Tea Pty Ltd v Churchill, in this case the Supreme Court of New South Wales held auditor liable towards third party in the condition where there is assumption of responsibility. The facts given in this case explain that an investor brought a case against auditor for the losses suffered by him due to relying on misstated financial report (Barker, 2015). In the given report the debts of the company are understated. Therefore, the court held auditor liable to reimburse losses incurred by investor and the auditor is not only liable towards audited company but also towards third party associated. According to laws of Australia and Auditing standards, the auditor is only liable towards the client and to the third parties associated with the client that takes decision on the basis of reported presented by the client. The auditor will be held liable if any damages of loss incurred to the third party because it is the responsibility of auditor to accurately review the companys records and as a result of auditors negligent act losses incurred to the third party. Moreover, an auditor is not held liable to reimburse the losses or any damage to the third party if there is absence of contractual binding relation between the third party and the client. Furthermore, if special relationship exists between the third party and the auditor then in case the auditor can legally protect its position from being liable to third party. In case of special relationship, if third party linked to the client takes auditors advice regarding overall performance of the company and even after taking advice, the third did not consider it in taking decision regarding the client (McLaughlin, 2015). Then in such a case the third party has no right to take legal action auditor for getting reimbursement of damages or losses. In the given case, if EFL had written to King Queen looking for advice that they intended to give loan to Impulse and were relying on the 2012 audited financial report to assist them in making their decision, then in such condition the auditor will be held liable. But, if the auditor inform the EFL about the real financial condition of the company and after that EFL take decision to grant loan to Impulse on the basis of presented financial report. Then in such condition EFL has no right to file case against the auditor for getting reimbursement of losses. Caparo Industries plc v Dickman, In this case the liability of auditor is limited to reimburse economic loss suffered by third, if that party takes decision by relying on the presented audited report. The facts given in the case explains that Caparo(investor) takes investing decision on the basis of facts presented in the companys financial statement (Monaghan, 2015). But the auditor was neither aware about the existence of Caparo nor the purpose for which the financial statements were used by the company. Then in such case, no duty of care was owned by auditor and therefore was not liable to reimburses third party for damages. Auditors Independence Independence can be defined as the foremost mean by which an auditor demonstrates that he/she can perform the respective work in an objective manner. The primary objective of an audit is to provide expert or independent opinion to the shareholders and to ensure that whether the companys annual account represents fair and true view of companys financial position. Along with this, it helps to identify that whether facts presented in financial statement are sufficient to be relied in order to take accurate investment decisions. Therefore, independent auditor can be defined as certified public accountant involved in examining the financial records and business transactions of a company (Richardson, 2012). The concept of independence of auditor is fundamental to the conduct of quality and effective audit. Along with this, high degree of auditors independence helps to enhance credibility of financial statement and independent audit report will be accepted and respected by all the companys stakeholders. The primary responsibility of an independent auditor is to provide clear picture of companys financial position to all its stakeholders. Therefore, the independent audited report present by auditor is important for all stakeholders in the organization (Needles, et al., 2013). It is important for companys management to identify the reasons of losses so that they can take effective measures to control it. Along with this, it is also important for lenders, investor and creditors to identify the true credibility and profitability position of the company. So they can effective make decision regarding granting loan and making investment in the company. Furthermore, perceived independence is also known as independence in appearance and it is achieved when auditor avoids specifics details and circumstances that are significant and reasonable to be informed to the third party that has understanding of all the significant details (Collings, 2011). Moreover, it is required to have independent v iew of auditor whether actual or perceived in order to increase trustworthiness of the audited report. As per section 140 of APES 110, it is the duty of an auditor to maintain the confidentiality of information of its clients, while conducting audit process. The standard states that there exist professional and business relationships between the auditor and client, which require that the auditor should not reveal any such information to third parties without taking approval of the client. Also, the auditor is also not allowed to use its clients information for seeking any personal benefit (Cameron O'Leary, 2015). However, Australian Accounting Standards permit the auditor to disclose his clients information if it is required by any relevant professional body or statutory body. It is the duty of an auditor to adhere to the applicable rules and regulations along with accounting standards in order to avoid unnecessary legal actions against him. In the presented case, Bob use the certain information of his client, Club Casino to use it in his university assignments. Since, Bob has used the information without taking permission of the client he has breached the duty of confidentiality. In order to properly discharge his duties, Bob must take prior approval of Club Casino to use its information for his personal advantage. According to the accounting standards of Australia, an auditor can be defined as independent identity that provides company with an accountants opinion but who is not an employee of that company or not otherwise associated with the company. It means that an auditor should not be a partner or any other manager or officer of the company for which he/she is doing auditing (Stewart Munro, 2010). In the given case, Wendy has been working as an engagement partner for a number of years. Due to the retirement of company secretary he becomes secretary of the company for that period of time. But in this case, Wendy has no legal authority to perform the audit function of that company as he is already in existing relation with company as an engagement partner. Along with this, as an person associated with the company he may not be able to give unbiased results.It is already stated that an independent auditor is a person who is not associated with company in any way. This means that he may neither be an employee or manger or any person having relation with the auditing client. In the present case, Leo is in relation with foreman of the factory in which he is required to perform the audit. Therefore, he is not able to conduct audit independently in Precision Machinery Limited. Along with this, Leo may not be able to provide valuable and accurate audit report as his opinions and views may be affected by his relationship with client for which audit is required to done (Beekes, et al., 2015). This in turn leads to ineffective and unfair presentation of financial position of company as the report may contain biased results. As per Australian accounting standards, a person holding any shares or security of the company is not allowed to carry out audit of that company. As he/ she is in some way associated with that company. In the present case, Chan Associates are auditors of Classic Reproductions Pty. Limited and in place of outstanding fees company gave him furniture for 50% of value of outstanding fees and 25% shareholding in an unrelated listed company. Therefore, in this case Chain and Associates is entitle to conduct audit in a legal way as he is holding shares in other company and not in the company in which he is performing the auditing functions. Conclusion On the basis of above explanations, it can be concluded that auditor has significant liability towards the client and third party associated with it. Therefore, third party is legally entitled to recover losses or damages as the auditor hold duty of care towards the third party. Moreover, it is also assessed that there is difference between actual and perceived independence of auditor. Therefore, the auditor must conduct audit with actual independence for effective and credible presentation of companys financial position. References Barker, K. (2015). Negligent Misstatement in Australia-Resolving the Uncertain Legacy of Esanda. Ch, 13, 319-344. Beekes, W., Brown, P. and Zhang, Q., (2015). Corporate governance and the informativeness of disclosures in Australia: a re?examination,Accounting Finance,55(4), 931-963. Cameron, R.A. and O'Leary, C., (2015). Improving ethical attitudes or simply teaching ethical codes? The reality of accounting ethics education.Accounting Education,24(4), pp.275-290. Collings, S. (2011). Interpretation and Application of International Standards on Auditing. Australia: John Wiley Sons. Latimer, P. (2012). Australian Business Law. Australia: CCH Australia Limited. Leung, P., Coram, P., and Cooper, B. (2012).Modern Auditing and Assurance Services. Australia: John Wiley Sons. McLaughlin, S. (2015). Unlocking Company Law. UK: Routledge. Monaghan, C. (2015). Beginning Business Law.UK: Routledge. Needles, B., Powers, M. and Crosson, S. (2013). Financial and Managerial Accounting. Australia: Cengage Learning. Plessis, J., Hargovan, A. and Bagaric, M. (2010). Principles of Contemporary Corporate Governance.UK: Cambridge University Press. Stewart, J. and Munro, L., (2010). The impact of audit committee existence and audit committee meeting frequency on the external audit: Perceptions of Australian auditors.International Journal of Auditing,11(1), 51-69.