Last Updated 07 May 2020

Sarbanes-Oxley Act and the U.S. Patriot Act

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The Sarbanes-Oxley Act states that all public business companies should adhere to the new standards established by law for the additional task of supervising all the financial transactions and auditing procedures by the board members. It requires company auditors and financial officials to show independence in auditing and reporting financial reports. On the other hand, US Patriot Act gives the authority strong rights to search for important personal information about people and detain anyone who is suspected of terrorism.

It also expands the Secretary of the Treasury’s rights and authority to regulate financial transactions especially those that involves transactions with foreign individuals and entities. To ensure that everyone is in compliance a set of policies are usually done by the companies that will encourage employees to report anyone who is violating the law and offer them safety while the case is being investigated. An incentive system is sometimes done to maintain independence and ethical behavior within the company.

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Web 2. 0. : Definition, Advantages and Disadvantages Formally speaking, Web 2.0 deals with a set of principles and practices that connects and integrates a huge group of sites that demonstrate some of the principles or practices. Web 2. 0 is more likely an advanced way of searching data, sharing files and interacting with other users in the web. An example would be the principle of participation rather than publishing. Web 2. 0 allows interactive communication through blogs where people can freely share ideas and learn in a single system or home page.

By using optimal ways to make systems more efficient and enhance collective intelligence, Web 20 is able to make lives of people more convenient and businesses more cost effective. Unfortunately, Web 2. 0 allows other people to gain easier access to other people’s personal and important information and files leading to file or system hacking and virus transfer. It may also serve as a tool for terrorist and anti law activities due to efficient data accessibility DQ#3: Wi-Fi for M-Commerce Wi-Fi basically stands for “wireless fidelity”. Computers in a Wi-Fi network connect wirelessly to a wireless router that is positioned in an area and is connected to the internet by a DSL modem.

Wi-Fi is said to be very useful because anyone within 200 feet from the access point can gain access to internet. Nowadays, Wi-Fi is being used for small scale computing devices such as PDAs and laptops to aid in efficient business transactions and sharing of files within an area or a company. However, the security of file sharing is one of the main concerns of m-commerce. This is addressed by having a password or authentication key before accessing the Wi-Fi. Since, Wi-Fi technology is continuously improving, cellular phones with office and Wi-Fi capabilities are in demand for people in m-commerce.

Even though laptops are still considered as useful gadgets, Wi-Fi mobile phones are handier and more functional.  Legal and Ethical Considerations in E-Commerce Like other businesses, e-commerce also has ethical and legal considerations that guide entrepreneurs in achieving a successful business. Ethical considerations include the independence, integrity, honesty, and dignity of data establishers, data users and other people involved in e-commerce. Trust is very essential among business relationship and it can only be done through proper ethical behavior and clean business transactions.

In accordance, legal considerations include data privacy, security in sharing files and information, validity of contracts and business transactions and technology use. To ensure information security in e-commerce, a password protected database can be established in which all users can gain access only through their assigned password which will consist of several combinations of letters and numbers. The database will ask for the password every time before any transactions is made like file sharing, data retrieving, etc. For higher security, passwords will be changed monthly and users will be updated immediately.

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