Many auditors are asking themselves the same legitimate question: With so much happening, where do we start? Advancements in technology and data have been so rapid in recent years that long-standing organizations that failed to pay attention have been disrupted and displaced by so-called “born-digital” competitors. In the case of many organizations who met their fate at the hands of born-digital competitors, it was often a lack of activity – or, at least, a lack of the right activity, at the right pace – that allowed for the rise of the disruptors and led to the demise of the disrupted. It is not hyperbolic to suggest that digital risk is an existential risk for many organizations if ignored.
Cybercrime is now considered a top risk to most enterprises. Many organizations seek to build security by adding tools and processes on top of their established operations. It’s important for these organizations to take different approaches and see what results in greater momentum and more effective investment.
The internet of things (IoT) is an environment in which “things” – objects, animals or people – are given unique identifiers on the internet and are able to transfer data over a network without the need for human-to-human or human-to-computer interaction. The IoT has evolved from the convergence of wireless technologies, micro-electromechanical systems (MEMS) and the internet.
What is Money?
People may say that “money is the root of all evil,” but is it? It may be best to point out that the original quote is better expressed as, “for the love of money is the root of all evil,” which more properly conveys the idea that money is just a thing and not evil itself, but greed and excessive desire for money can be judged morally.
Enough philosophy – let’s get down to brass tacks. Money is useful.
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