How Asian Hackers Stole The Nasdaq Summary

The immense pressure that an external auditor, AIS security auditor faces daily is immense. This is due to their nature of work, which is under constant scrutiny. Outside factors can also cause the ethical morality and technical skills of the auditors mention above to be under scrutiny if not handled correctly. In the article called How Russian Hackers Stole the NASDAQ by Michael Riley one can see such example of an external factor. Not only must they perform well for their accounting firm, but they must also be in compliance with their client and the government regulations, nevertheless the auditor serves the public first in theory In theory the auditor must serve the general public, which is the concept of utilitarianism. A brief description …show more content…
Another reason for this belief is that some clients have immense power and influence in the business world. This is what occurred in the Russian hacking incident. Many powerful governmental agencies and the NASQEQ wanted to keep this incident as a secrete form the general public. Their argument was if this was to be known to the public, then the confidence in the exchange markets will decrease. Their argument has some validity, since if the investors begin to lose confidence in the market then the consequences would be devastating. But if the auditor still insisted on letting the public know what was going on, then the auditor should use the economic power bested upon them. An auditor can leverage this supposedly uneven relationship with an economic power that is only bestowed upon them. The power to write auditor’s opinion, qualified, and resignation is what helps an external auditor to perform their duties and to maintain certain leverage against a client. One can debate that resignations is not as effective as the other options stated