Question

The office of the comptroller of the currency plans to review them next year. What would you recommend

10: Real-Wire a public electronic funds transfer (EFT) netwo puter switch based Chic sist in e-commerce EFT rk with its head office and major com ed in Chicago. It is currently under contract to the Department of Treasury to ed rand EFT initiatives when federal systems are overloaded. They have handled l pocesing, which has increased their workload by 15-20% on y 15-20% on occasions. The company itches in each capital city throughout the United States, including Alaska and re linked into a national communications network. Approximately 200 financial ns (banks, building societies, and credit unions) use the network to provide automatic computer s dlr machine and point-of-sale services to their customers been in operation for 15 years, but during that time it has been very suc sfol. When the United States began to deregulate its financial markets in 1985 and foreign Real-Wire has o nly banks to enter the marketplace, Real-Wire obtained substantial new business because these financial institutions immediate EFT services. As a consultant specializing in computer controls and audit, you have been hired by the man ging director of Real-Wire to examine the state of controls within the EFT system. She explain b you that an increasing number of potential customers are requesting some type of independent asurance that controls within the system are reliable. Accordingly, she has decided to initiate a ols review of the entire system so that a third-party "letter of comfort" can be provided to potential customers. oital part of your controls review focuses on the main switch in Chicago. As part of your l examine the status of disaster recovery planning for the switch. In terms of short-terrm ntrols appear to be in place and working. Backup tapes for all data and programs are on- and off-site to enable recovery if programs and data are lost for some reason. In ort-term recovery are well documented, and operators seem familiar with these protocols. From time to time they have to exercise these protocols because The tored both addition, protoc for sh and well trained in protocols