Implementation of information technology (IT) in the financial reporting of the information costing under financial risks: employing a modern approach

Raed Majeed Abd Mohammed, Abbas Hashem Mahlhal, Hatem Kareem Ashour and Hussein Falah Hasan ()
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Raed Majeed Abd Mohammed: Middle Technical University
Abbas Hashem Mahlhal: Middle Technical University
Hatem Kareem Ashour: Middle Technical University
Hussein Falah Hasan: Dijlah University College

Eastern-European Journal of Enterprise Technologies, 2022, vol. 3, issue 13(117), 37-43

Abstract: In the research, the importance of information technology (IT) in the corporate financial reporting under financial risks by applying a current strategy is explored. It is essential for the company to have up-to-date accounting information systems that are able to meet its standards in order for it to be able to produce an accurate external financial report. In the current investigation, the utilization of accounting information systems (with a focus on Relevance, Reliability, and Information Security) helped to reduce the potential for monetary loss. A questionnaire was developed and distributed to the research sample, which included personnel who worked as financial managers, sales teams, internal auditors, and employees working in the information systems departments of the company. This was done in order to meet the objectives of the study and fulfill the requirements of the research sample. There have been no instances of delayed projects as a result of administrative or financial corruption, and a Denominator-based variable that is pertinent to this assumption is that there have been no such delays (0.33). Both Err's standard deviation (00) and the primary score are under tight control at the level of financial reporting (Logic processing) that we are now operating at 3.061. Utilizing a statistical tool allowed for the examination of data as well as analytical hypotheses. According to the findings of the study, there is a significant impact on the effectiveness of accounting information systems due to the risks posed by computerized financial reports. According to the findings, additional research ought to be done on methods that can boost accounting control efficiency, and asset protection programs in order to minimize control risks

Keywords: information technology; computerized method; information system; risk assessment; financial reporting (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:baq:jetart:v:3:y:2022:i:13:p:37-43

DOI: 10.15587/1729-4061.2022.259054

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