Comprehensive Audit Plan. Accounting, Finance, SPSS Essay

SDLC in Company Management
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SDLC in Company Management
A System Design Life Cycle (SDLC) plays a crucial role in business operations since organizations seek to ensure consistency and routine in their operations. As such, this calls for the business to have a structure of operations to ensure such consistency is achieved. As such, SDLCs help businesses in establishing a framework on which they can create, build, and interpret, as well as implement and enhance systems that can be followed by all personnel within the company (Grenci & Hull, 2020). Further, the SDLC helps in enhancing accountability for business management and IT operations since it requires the company to ensure proper documentation for all operations. It has also been used to aid in auditing since it enhances the precision and ease of handling the auditing process. An effective design of SDLC has been recommended for Coinbase. The company was founded in June 2012, and it is a digital currency platform and wallet in which consumers and merchants transact using such digital currencies as ethereum, bitcoin, and litecoin. It is based in San Francisco in California. It runs the bitcoin network with has thousands of computers operated by people in different parts of the world. The recommended SDLC framework will enhance business operations between customers and merchants using the Coinbase platform.
Recommendations on the requirements for the feasibility study, Pros and cons for the design of SDLC
The analysis is centred on Coinbase, which is an online company that creates the platform for customers and merchants to transact using such digital currencies as bitcoin. As such, it is important to ensure that the recommendations drawn on the feasibility study are analysed carefully since the company handles billions of bitcoins which are run by individuals operating different computers across the world. This means that a simple mistake in the platform could result in losses and collapse of the company.
The SDLC should first be created in understanding of the nature of business that Coinbase is involved in, in which case it is transactions between consumers and merchants who are using such digital currencies as litecoin and bitcoin. The system developers should also understand the workflows that are involved in the process of transactions between different individuals. The workflows involve the actual definition of the transaction, its execution, and automation of different business processes from the consumer to the merchant and vice-versa (Mendoza & Putri, 2020). The transaction between the two parties is usually based on a set of procedural agreements and rules observed by both parties. Therefore, such workflows need to be considered.
Such researchers as Sishi and Telukdarie (2020) have also shown that the SDLC design exists in various models. They include the Spiral Model, Iterative Model, Waterfall Model, V-model, and Big Bang Model. In this case, the Iterative Model is the most appropriate for adoption in the case of Coinbase. The selection of the model was justified by the fact that the system enables easy detection of flaws within the system and thus allowing the system developer and users to correct the flaws (Sharma & Singh, 2015). Further, auditing within Coinbase is highly likely to experience challenges and risks since there could be personnel attempting ways of manipulating the system to hide fraud. The online business conducted over the platform provided by the company is associated with cases of fraud.
In the iterative model, the requirements are not clearly specified and outlined. The first step in the design process is implementing some subsets of the software requirements. As the name suggests, the system is modified iteratively at each of the stages; the modifications allow the system developers to enhance its capabilities (Aggarwal & Chandani, 2020). In this case, it would allow the developers to identify any lacking capability and enhance it before moving to the next stage, and this would ensure the final product is more compact. The basic principle in this case is to have the system developed through repeated cycles and in smaller portions.
There are various pros attached to this system. Such include that it would enhance auditing and thus enhance accountability. As mentioned, Coinbase involves online transactions between consumers and merchants using such digital currencies as litecoin, ethereum, and bitcoin, and this business is associated with fraud and cover-ups (Dovleac, Ionica, Leba, & Rocha, 2020). In addition, this would ensure that progress on development is made periodically, thus ensuring the final system functions up to standards and in accordance with the needs of the consumers, merchants, and the company.
The system is also the most appropriate in this case due to its ease of testing debugging in the case of short iterations. This makes the iterations in such cases easy to handle and manage, as well as effective and easy identification of any risks within the system (Dessai, Indu, Yerragudi, Murthy, Patel, Dharishini, & Gangadhar, 2016)). The Coinbase system is subject to risks during the online transactions between the consumers and merchants, and so this model will help in identifying and addressing all types of risks and enhance the efficiency of risk analysis.
However, the system also has various cons. The first one is that the installation and maintenance of the system is expensive, implying that Coinbase will need to use capital resources to get the system up and running. The high cost also suggests that the progress of the projects in the company will mainly depend on the risk analysis phase; inefficiencies in the risk analysis process will be reflected in the progress in the company’...