This paper discusses an integrated security approach that engages multiple functional levels in an organization from the Board and management to IT staff and individual users. The…
Abstract
This paper discusses an integrated security approach that engages multiple functional levels in an organization from the Board and management to IT staff and individual users. The discussion presents security issues at the policy setting level and important control implementations at the gateway interface, internal network, and corporate files. As this approach involves multiple layers, the security environment can be strengthened. This discussion can be used as a guideline for corporate security management, as the components for a security audit, and as an internal communication to enhance corporate security awareness. The comprehensive view presented in this discussion is beneficial to managers, auditors, controllers, and consultants who work on security issues.
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This paper discusses disclosures required of on‐line broker‐dealers, and recommends various internal measures that on‐line broker‐dealers should take to comply with securities…
Abstract
This paper discusses disclosures required of on‐line broker‐dealers, and recommends various internal measures that on‐line broker‐dealers should take to comply with securities trading regulations. On‐line trading is transforming the relationship between investors and broker‐dealers. While the services offered by on‐line broker‐dealers may be different from those offered by full‐service brokers, the differences are diminishing, and both activities are subject to the same rules and regulations. A GAO report of May 2000, revealed that many on‐line broker‐dealers did not comply with disclosure requirements, resulting in complaints by customers who lost money or financial opportunities. As the SEC is strengthening its examinations, this article is helpful to firms that offer trading on‐line to comply with disclosure requirements for investor protection. This article is especially helpful for internal auditors of these firms in implementing internal policy and procedures to ensure adequate disclosures and to mitigate risks of investors’ litigation.
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Stephen J. Ciccone and Ahmad Etebari
This study analyzes trends in analyst forecast properties from 1987 through 1998 in the United States and seven Pacific Rim countries: Australia, New Zealand, Taiwan, Hong Kong…
Abstract
This study analyzes trends in analyst forecast properties from 1987 through 1998 in the United States and seven Pacific Rim countries: Australia, New Zealand, Taiwan, Hong Kong, Japan, South Korea, and Thailand. Analyst forecast properties in the United States have become less dispersed, more accurate, and less optimistic during the sample period. Similar trends exist in Australia and New Zealand, but not in the other sample countries. In contrast, the forecast property trends of most Asian countries are the exact opposite. For example, in Japan and Korea, forecast dispersion, forecast error, and optimism all significantly increase over the sample period. The results suggest that Asian firms do not play the U.S.‐style earnings game in which managers guide analysts toward a certain target number and then report earnings that beat the target.