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The Threats of Using Computerized Accounting Information Systems in The Banking Industry

Ernest Amoaful Bansah ()
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Ernest Amoaful Bansah: University of Cape Coast, Ghana

Journal of Accounting and Management Information Systems, 2018, vol. 17, issue 3, 440-461

Abstract: The adoption and over dependence on IT in performing banking operations during the past decades are well-recognised. The use of information systems in performing accounting tasks has been credited with many accolades nonetheless, threats to the systems have become inevitable for most firms in the changing business environment. In this study, the extents to which CAIS in the banking industry in Ghana are susceptible to vulnerability are explored by means of descriptive survey. The study investigated the sources and causes of risks that threaten CAIS in financial firms and the preventive measures available to mitigate their occurrence. The study reveals that the most worrying sources of threats to CAIS include power outages, risks posed by employees, viruses, and threats from outsiders. With regards to the causes of risks to CAIS, the findings indicate that accidental entry of bad data, unauthorized copying of the system’s output, lack of frequent back-ups, infrequently updates on system security software, access to data by unauthorized personnel, weakness in internal controls, and lack of written policies are the major causes of threats to CAIS. Generally, the findings indicate high level of perceived sources and causes of risks among financial firms in Ghana. However, effective measures to secure CAIS are lacking. It is therefore recommended that attention is given to these issues before they become unbearable.

Keywords: computerized accounting information systems; financial firms; threats; security controls (search for similar items in EconPapers)
JEL-codes: M41 M15 (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:ami:journl:v:17:y:2018:i:3:p:440-461