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WithumSmith+Brown Global Assurance Offers List of Data and Security Errors That Threaten Non-Compliance For Small and Medium Firms
Lack of controls and planning often expose a company's network to threats
Princeton, NJ, February 26,2007 -
WithumSmith+Brown Global Assurance (WS+B GA)
www.wsbga.com, a full-service provider of Sarbanes-Oxley (SOX) compliance, internal audit, IT and risk assurance consulting services, has offered insight into some of the common data and security mistakes small and medium businesses (SMB’s) make that can result in non-compliance through a list created by Executive Vice President Sumit K. Pal. Among the mistakes included are:
• Failure to identify key spreadsheets and ensuring that adequate controls include access controls for the financial reporting process.
• Security is being compromised because the designing of network password policies is weak.
• Adequate perimeter security is not implemented to protect internal network resources, making it easy for outsiders to break through.
• Adequate data back-up controls are not being put in place to protect against system failures/breaches.
“Many SMB’s are not fully cognizant of the numerous ways that their networks can be compromised as a result of overlooking what may be considered small details,” Pal said. “From spreadsheets and documentation to e-mails and passwords, controls must be put in place to combat against security breaches that can jeopardize data and operations.”
Security risks are rising at an unprecedented rate and SMB’s are commonly among the most vulnerable due to lack adequate investment and planning. CERT, a federally funded research and development center operated by Carnegie Mellon University, reported 5,340 security vulnerabilities in just the first six months of 2006, just 650 less than the 5,990 that was reported for the entire year of 2005.
“Security is a major issue that SMBs must take seriously to protect against becoming another statistic,” Tom Basilo, Chairman and CEO of WithumSmith + Brown Global Assurance said. “Companies must determine if they have taken sufficient steps to protect their assets and if they have an internal structure that can properly plan, manage and defend the company from such threats.”
About WithumSmith+Brown Global Assurance, LLC.
WS+B GA is headquartered in Princeton, New Jersey and provides counsel and project support for corporate governance, risk assessment and Sarbanes-Oxley compliance services and other internal audit related services. The firm serves a diverse clientele ranging from public middle-market companies to pre-IPO and private equity / venture capital-backed corporations. WS+B GA offers clients innovative methodologies that are entrepreneurial in spirit resulting in a customized approach stressing hands-on, personalized service. For more information please visit
www.wsbga.com.
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