ERM Model of Telstra Using Cloud Computing AIS

Running head: ERM MODEL OF TELSTRA USING CLOUD COMPUTING AIS
ERM MODEL OF TELSTRA USING CLOUD COMPUTING AIS
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1ERM MODEL OF TELSTRA USING CLOUD COMPUTING AIS
Table of Contents
Cloud Computing.......................................................................................................................2
Internal Environment.................................................................................................................2
Objective Setting........................................................................................................................2
Event Identification....................................................................................................................3
Risk Assessment.........................................................................................................................3
Risk response.............................................................................................................................3
Control Activities.......................................................................................................................4
Information and Communication...............................................................................................4
Monitoring..................................................................................................................................4
Bibliography...............................................................................................................................6

2ERM MODEL OF TELSTRA USING CLOUD COMPUTING AIS
Cloud Computing
Cloud computing refers to the accessing and use of the network that is hosted over
remote servers over the internet with objective of storing, managing and processing of the
data. The computing service in discussion can even be considered as a shared pool of
configurable computing systems along with its resources and other high level services that
are envisioned with reducing the management effort and Telstra the subject of the firm has its
AIS (Accounting Information System) over the cloud to enhance its functionality while
mitigating the threats. The COSCO ERM elements on AIS under the cloud computing
environment have been incorporated to detail the ERM model for Telstra.
Internal Environment
Internal environment of the COSCO ERM is dedicated towards assessing the
management’s philosophy that in case of the Telstra states development of pillars of the
organisation on customer advocacy and driving of values core to the business. Hence, the first
and foremost assessment of risk should be focused on the management styles, ethical aspects,
organising structuring, authority roles and responsibility defining and to the human resource
standard defining. It will provide the prominence of ensuring that the leadership of the firm is
sound and suitable to carry out the necessary actions with accuracy and efficiency.
Objective Setting
The second component that is to be taken into consideration is the is the objective
setting. The prominence of understanding the risk appetite of the discussed component is very
crucial because the strategic perspective is not limited to strategic objective but extends to
operational, reporting and compliance objectives setting that together helps in maintaining the
sustainability of the firm. The assessment of the risk level assists in undermining the
uncertainties and the strategies to cope up with it.