Accounting Information System Research Paper

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Research Paper

Research topic: You may select any topic that is related to the impact or use of technology as it relates to accounting. ( Managing IT risks and compliance will be better)


The research paper should be about 12 pages including the cover page and reference/bibliography page.


You should follow APA guidelines.see https://owl.purdue.edu/owl/research_and_citation/a...

(Links to an external site.)

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and https://owl.purdue.edu/owl/research_and_citation/a...

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Accounting information system research paper. Posted by Susan Pierce, CPA, CITP, CGMA on Apr 27, 2015 The 25th anniversary North American TTI Survey conducted in 2014 expounded on this trend in the profession and broke down the top IT priorities in the United States and Canada, with more than 3,000 CPAs and chartered accountants weighing in on the most pressing issues affecting their delivery of service in firms, and in business and industry. Here is a list of the top 10 U.S. initiatives ranked by priority. I will elaborate on the top IT concern below. 1 Securing the IT environment 2 Managing and retaining data 3 Ensuring privacy 4 Managing IT risks and compliance 5 Preventing and responding to computer fraud 6 Enabling decision support and analytics 7 Managing system implementation 8 Governing and managing IT investment/spending 9 Managing vendors and service providers 10 Leveraging emerging technologies Research Paper Research topic: You may select any topic that is related to the impact or use of technology as it relates to accounting. ( Managing IT risks and compliance will be better) The research paper should be about 12 pages including the cover page and reference/bibliography page. You should follow APA guidelines.see https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting _and_style_guide/apa_sample_paper.html (Links to an external site.) Links to an external site. and https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style _guide/general_format.html (Links to an external site.) Links to an external site. You will be graded on: 1 2 3 Content, did you adequately research and write about your topic. 70% Quality of writing, is your submission free of typos, grammatical errors. 20% Adherence to APA style guidelines 10%
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Running head: MANAGING IT RISKS AND COMPLIANCE

MANAGING IT RISKS AND COMPLIANCE
NAME
COURSE
INSTITUTION
DATE

MANAGING IT RISKS AND COMPLIANCE
Managing IT Risks and Compliance
Introduction
In essence, the basic functions of accounting have not experienced significant changes
and still stick to the role of providing information about performance of a given business unit in
terms of economics. This function is achieved by analyzing recorded, processed, and stored data
regarding the operations of the business. However, in the recent past, technology seems to have
taken each profession by storm, accounting being one of them ("How to Develop a Plan to
Manage IT Risks", 2019). The functions of accounting have since transformed from the basic
recording, summarizing, and reporting to a myriad of processes including but not limited to
uptake of delegated functions, processing mechanisms, controls and expected output.
These processes can be as well regarded as a “the accounting information system (AIS)”
for the collective dimensions of business operations involved. Information technology (IT) has
streamlined operations for flow of financial data within the organization and beyond. The
complexity involved with embracing computerization of the processes in the accounting profession
has led to a review of the curriculum leading to development of complete accountants. In fact, IT
has become part and parcel of the accounting profession to the extent that a business may not be
in position to monitor its economic performance by detecting loopholes and offering solutions
without embracing computerization.
Despite the merits that that come with embracing IT, there are many risks associated with
the use of computer systems that are prone to many challenges. Compliance as well is an issue of
concern when it comes to IT with the complexities and connection gaps in many departments of
the organization make them vulnerable to ever changing risks. In fact, many organizations are
feeling the pressures to comply with risk management issues in the context of IT compliance. In

MANAGING IT RISKS AND COMPLIANCE
this article, we analyze the risks IT poses to accounting as an integral part of any organization and
the ways they can be managed.
The changes in technology have seen the shift in dependence on paper-based accounting
to completely automated systems. In spite of the automation, many risks have come along but
specifically the security aspect is the most outstanding. A firm’s AIS can face threats from
internal and external forces and with the human cause perspective in consideration. For example,
wrong data entry by employees can lead to misinformation that could have effects down the line
in the system with altered decisions and processes that can prove costly to the organization
("Information technology (IT) risk management | Business Queensland", 2019). Despite being
accidental, the impacts of such errors could be irreversible, for instance if the information was
meant for business partners like suppliers who could have either been served by inconsistent
financial transactions report. At times, it could be attributed to the carelessness of employees like
failure to capture correct prices for intentional errors that can be termed as fraud.
Additionally, the unauthorized access to sensitive information by other employees can turn
to be a risk to the accounting system. Although it is rare to have such cases, lack of password
security can enable access to unauthorized individuals that may lead to unwanted possession of
information by wrongful individuals. Employees sometimes do share passwords with others for
example when designating duties to be performed on their behalf but forget to change the
passwords thereafter. In this, they can take advantage of the negligence to manipulate the system
thereby putting the organization on the verge of data loss. Natural disasters can as well pose as a
threat to the AIS because as compared to manual storage, use of the system involves keeping data
in software or internet-based storages. For example, the occurrence of hurricanes and earthquakes
can lead to power loss meaning the business literally comes to a standstill because the data cannot

MANAGING IT RISKS AND COMPLIANCE
be accessed. Such a situation can lead the company to suffer losses in terms of business deals
forgone during the period as well as the risk of complete loss of information in the event that the
event the computers are completely destroyed. Disasters can as well be human caused for example
fire and electrical mis happenings.
In terms of computer security, the issue of computer viruses has been the most common
threat to the accounting information system in the current World. It is a human caused risk that
can be attributed to both employees and cyber attackers who have ill intentions towards the
organization. Viruses manipulate the organization’s computer software by interfering the
program codes of the system. They are majorly used in online accounting transactions of the
organization with e-mails being the most prone to be attached with executable files that can help
hackers draw data from the organization’s computers (Glaser, Stam & Takeuchi, 2016). Such
individuals can be business partners sending e-mails that contain such viruses that distort the
system but measures can be taken against this threat by ensuring the computers are installed with
up to date anti-malware programs that detect the viruses and destroy them before the damage is
done.
To the surprise, employees can directly destroy accounting output due to various reasons
but most likely when there are cases of embezzlement and misappropriation of funds. Since the
software data may not be retrieved after deletion, the organization could be left at crossroads when
such an event happens. In another case, the creation of imaginary output is a threat to the system
as employees aim to cover up some transactions that could be illegal or against company policy.
In...


Anonymous
Very useful material for studying!

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