Technical Session -4

INFORMATION TECHNOLOGYBY

GAURAV RATHIFOR

NATIONAL CONCLAVE FOR CA STUDENTS AT JALGAON

ATJALGAON BRANCH OF WIRC OF ICAI & WICASA

Contents

1. Use of Information Technology in CA profession

2. Threats due to Information Technology & Security issues in Cyber Law

3. Technology in CA Education – Satellite Learning & E Learning.

About Information Technology Information: When data is processed, organized, structured or

presented in a given context so as to make it useful, it is called Information. It is piecemeal, fragmented, particular, timely, flow of messages and acquired by being told.

Technology: Technology is the collection of technique , methods or processes used in the production of goods or services or in accomplishment of objectives, such as scientific investigation. Technology can be the knowledge of techniques, processes, etc or it can be embedded in machines, computers, devices and factories , which can be operated by individuals without detailed knowledge of the working of such thing.

Information Technology (IT) : It is the application of computers and telecommunications equipment to store, retrive , transmit and manipulate data often in the context of a business or other enterprise. The term is commonly used as a synonym for computers and computer networks, but it also encompasses other information distribution technologies such as television and telephones. Several industries are associated with IT, including computer hardware, software, electronics, semiconductors, internet, telecom equipment, e-commerce and computer services.

IT is a key enabler in modern enterprises and relevance of IT on auditing in terms of risks; security, control and change required in audit process and procedures; cannot be ignored.

Use of IT in CA profession

In CA Profession Information Technology (IT) is use in each and every level of operation ( like in auditing, accounting, return filing ,etc).

Audit broadly would involve the process of evaluating and reporting the adequacy of system controls, efficiency , economy, effectiveness and security practices to assure that assets and information resources are safeuarded, that data integrity is protected and that the system complies with applicable policies, procedures, rules, laws and regulations.

IT in the present context may be referred as a computer based tool that people use to work with information and support the information processing need of an enterprise.

Faster communication , electronic stroage and the protection of records are IT gives in CA Profession

IT enables business enterprises to differentiate their products and services from their competitors.

Whether you are in Industry or in Practice, you need IT because

It increases effectiveness and economy at work

Do not become a slave of your technologyRemember that you should carry a solution

and not the technologyIT is supposed to be an enabler and not your

slave master

Threats due to Information Technology & Security issues in Cyber Law

• Data handling capacity of computer combined with telecommunications technology greatly increases ability of an individual to access and perhaps to manipulate large quantities of data- within a relatively short time period : thus , increasing amount of potential damage or risk of exposure.

• Ready access to terminals as computerized Information Systems are highly distributed leads to ease in perpetration of computer related crimes thereby increasing temptation for abuse.

• On-line processing of data and validation checks would help the prospective perpetrator in guessing passwords and aid in circumventing controls in inputs to co mputer.

• Appropriate control are not resident within the computer system to detect or to prevent the accidents. If threats are not anticipated and adequate control are not designed to mitigate or counter them, system and its resources will be vulnerable.

• The greatest exposure of all is a failure to recognize risk or potential impacts of those risks.

• Prudence demand that contingencies are to be anticipated and planning done to handle them.

• Regulation are making it mandatory for auditors to review the structure and system of governance and risk management which is embedded in IT in most enterprises.

• A key requirement of enterprises in IT deployment is to ensure that business objectives are achieved and not mere implementation of latest technology.

• A key challenge in implementing IT is : “High the technology, Greater is the need for control”.

• Hence , it becomes critical for enterprises to implement IT with the not only with right security but also to create business value and auditors can play a critical role in reviewing security and facilitating enterprises to realize business value.

• Enterprises risk include several components such as business risk , technology risk, operational risk and other risks.

• Technology risks are faced by enterprises that are heavily driven by and dependent on technology, especially where the types of technology used as rare and keep changing.

• When the technology used fails or becomes obsolete, the enterprises may not to continue with its business.

Technology in CA Education – Satellite Learning & E Learning.

Education is not just a word, it’s a base for everything that makes a person successful, from a daily laborer to the president of the country, everything is based on education. And therefore it is very important that it flows via proper medium so that the objective is achieved.

One such medium is via internet which is becoming a necessity in this modern era. All we need to know is the correct way and explore the wonderful opportunities offered by it.

Lets now try to understand what exactly this term e-Learning is? Going in simple words, one can put it as learning which is carried

out over the internet that is via network is called e-learning.

• Technically, E-learning refers to the use of electronic media and technologies in education. E-learning is inclusive of all forms of educational technology in learning and teaching. E-learning includes multimedia learning, computer-based training (CBT),internet-based training (IBT), web-based training (WBT), online education, virtual education,

• E-learning can occur in or out of the classroom. Although E-learning is suited to distance learning and flexible learning, but it can also be used in conjunction with face-to-face teaching, in which case the term blended learning is commonly used.

• So basically E-learning refers to the use of technology in learning and education.• E-learning has an educational approach or tool that supports traditional subjects.

Similarly, e-learning as a technological mediumassists in the communication of knowledge, and its development and exchange. Moreover, e-learning is a Study Medium without Teacher and Physical Classroom and most importantly e-learning is beneficial Economically because of no use of Paper & Pencil.

• This "e" of e learning should be interpreted to mean "exciting, energetic, enthusiastic, emotional, extended, excellent, and educational" in addition to "electronic." Ratherthis "e" should refer to "everything, everyone, engaging, easy".

• "Virtual" is used in that broader way to describe a course that is not taught in a classroom face-to-face but through a substitute mode that can conceptually be associated "virtually" with classroom teaching, which means that people do not have to go to the physical classroom to learn. Accordingly, virtual education refers to a form of distance learning in which course content is delivered by various methods such as course management applications, multimedia resources, and videoconferencing. Students and instructors communicate via these technologies.

• Educational institutions began to take advantage of the new medium by offering distance learning courses using computer networking for information. The biggest one which we can see is the growth of satellite centers in the past one decade who impart knowledge via the best teachers in the education industry using the satellite medium. This has not just led to convenience but also saved a lot of time for students who earlier spent so much time on commuting. Also the system of watching the classes later has led to a major change in the concept clearance of the students which earlier wasn’t possible in case a student wasn’t able to attend his lectures.

• The emergence of e-learning is undoubtedly one of the most powerful tools available to the growing need for education. This has allowed students who desire to pursue their education but are constricted due to the distance of the institution to achieve education through "virtual connection" newly available to them. Online education is rapidly increasing and becoming as a viable alternative for traditional classrooms.

• Social networking sites offer much more than just social fulfillment or professional networking. This in fact also has implications for CA educators, who now have a vast opportunity to support what students are learning on the Web sites. "Now they will know what skills students are learning and what experiences they're being exposed to, we can help foster and extend those skills,“.

• E-learning may either be synchronous or asynchronous.• So we can see that we are nearly very close to an era where

the effectiveness of online instruction will be considered equal to that of face-to-face classroom instructions

• All we need is a proper system in place which motivates the people in general to make use to this technologically based system to the maximum capacity possible.

THANK YOU.PAPER FOR PRESENTATION

BYGAURAV RATHI

Akola.