Assessing Privacy and Security of Information Systems from Audit Data

J. Christopher Westland ()
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J. Christopher Westland: University of Illinois Chicago

Information Systems Frontiers, 2022, vol. 24, issue 5, No 3, 1417-1434

Abstract: Abstract We investigated publicly reported security breaches of internal controls in corporate information systems to determine whether U.S. Securities and Exchange Commission (SEC) data are information bearing with respect to breaches of security and privacy. The issue has grown in importance as information systems breaches have steadily grown costlier and more frequent. Our analysis supports a high predictability for credit card breaches, portable device related breaches and breaches conducted by firm insiders. Our study also found evidence that employees are subverting particularly strict internal controls by using portable devices that can be carried outside the physical boundaries of the firm. In general, auditing and corporate data filed with the SEC was non-informative with regard to breaches involving unintended disclosures, physical losses, hacking and malware and workplace computers. Scope and fees associated with auditing are significant factors in predicting security breaches, whereas assessments of internal controls effectiveness was shown to be less significant for prediction.

Keywords: Security; Privacy; Internal control; Auditing; Computer security; Computer fraud (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s10796-021-10129-5

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