Analysing Different Security Management Issues Essay

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How has the Securities and Exchange Commission (SEC) improved reporting measures for publicly held companies? What are the weaknesses in SEC procedures?

The SEC has amended its reporting requirements in order to eliminate, modify, or integrate certain disclosure rules. These changes are aimed at improving disclosure effectiveness. Simplifying compliance without the need for significantly altering the total mix of information that is provided to the investors. Improving this reporting measures will allow public companies to eliminate redundant and duplicative requirements that forced the companies to publish or report the same information in different manners. Eliminating duplicate reporting requirements will make it easy for public companies to provide information to investors and investors will find it easy to retrieve information. The SEC also aimed at eliminating outdated requirements that are not consistent with recent legislation.

While the reporting measures are aimed at improving reporting for public companies, it is feared that the SEC might not be able to determine if companies do adhere to these changes. The SEC does not have effective internal controls in place to ensure that it can monitor and identify compliance. SEC systems are not routinely patched making them vulnerable to external attacks. Audit trail of systems is lacking, which makes it hard to determine or follow-up in case of an issue.

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SEC systems are not using encryption for sensitive information. This makes it easy for an intruder to steal the information.

What are the merits of zero-based budgets (ZBB) compared with incremental methods?

Zero-based budgeting is a budgeting method that requires the current year's budget be prepared from scratch with zero as the base. Incremental budgeting is a budgeting method where the previous year's budget is used to prepare the current year's budget (McCrie, 2016). Changes are made in the form of addition or reduction of expenses. Zero-based budgeting allows a company to create a new budget every year without having to consider the budget for the previous year (McCrie, 2016). There has to be a justification of resources before they are allocated any funds. Resources that will benefit the company are allocated the maximum resources. This ensures that the activities that are revenue generating and critical to the company's survival will get top priority. With such a method, a company is assured that it will not lose focus on other resources or activities that might end up affecting its bottom lines.….....

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References

McCrie, R. (2016). Security Operations Management. Waltham, MA: Butterworth-Heinemann.

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