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Accounting Assignment: Strategic Information System In Business Environment

: The control mechanism that can prevent Miss Emma from perpetrating this unwanted fraudulent activity: The firm should implement the audit trail control mechanism to monitor access to business transactions and records. It will help the firm to monitor the unauthorised access attempts via offsite and network location (Kamaliah et al., 2018). The firm should implement an electronic sensitisation mechanism to detect unauthorised access by any people. The firm should be encrypted the sensitive data using the secured encryption method (RSA mechanism) to prevent fraudulent activities. The firm should also use the one-time password mechanism system in their AIS. It would prevent the installation of the sniffer program (Duffany, 2018). It would also prevent the sniffer program to detect the user ID and passwords of employees. The firm should establish a strong password control policy to ensure that the employees should create a strong password for login, and the password can be changed at regular intervals. The firm should perform a background check on employees of the organisation who are in a financial sensitive position (Ali et al., 2019). It would help in revealing that Miss Emma was completed her master degree in computer science, then why she applied for the account payable clerk. The firm should also implement the overtime policy to restrict and monitor the entire system and overtime hour worked by any employee. The firm should develop the encrypted and valid file vendor transaction recording with the appropriate and accurate security procedures in the particular function and places to limit the unauthorised access to the secure encryption key (Ylmaz et al., 2018). The firm can design the program in a certain way that only accepts certain inputs from the designated terminal, user and times of the day to prevent the input data alteration risk. The firm can terminate Miss Emma immediately due to the reason of unauthorised access to all computer information and equipment. It will help the firm to prevent the destruction or alteration of their sensitive financial records of the business.These are the control mechanism that can prevent Miss Emma from perpetrating fraudulent activity in the organisation.? References: Al-Dhamari, R., Almagdoub, A. and Al-Gamrh, B., 2018. Are audit committee characteristics important to the internal audit budget in Malaysian firms?. Contaduría y administración, 63(SPE2), pp.947-969. Ali, M.A., Azad, M.A., Centeno, M.P., Hao, F. and van Moorsel, A., 2019. Consumer-facing technology fraud: Economics, attack methods and potential solutions. Future Generation Computer Systems, 100, pp.408-427. Al?Shaer, H. and Zaman, M., 2018. Credibility of sustainability reports: The contribution of audit committees. Business strategy and the environment, 27(7), pp.973-986. Balios, D., 2021. The impact of Big Data on accounting and auditing. International Journal of Corporate Finance and Accounting (IJCFA), 8(1), pp.1-14. Blaži?, G., Poš?i?, P. and Jakši?, D., 2017, May. Data warehouse architecture classification. In 2017 40th International Convention on Information and Communication Technology, Electronics and Microelectronics (MIPRO) (pp. 1491-1495). IEEE. Bouali, H., Akaichi, J. and Gaaloul, A., 2019. Real-time data warehouse loading methodology and architecture: a healthcare use case. International Journal of Data Analysis Techniques and Strategies, 11(4), pp.310-327. Bure, M. and Tengeh, R.K., 2019. Implementation of internal controls and the sustainability of SMEs in Harare in Zimbabwe. Entrepreneurship and Sustainability Issues, 7(1), p.201. Chalmers, K., Hay, D. and Khlif, H., 2019. Internal control in accounting research: A review. Journal of Accounting Literature, 42, pp.80-103. Cheng, Q., Goh, B.W. and Kim, J.B., 2018. Internal control and operational efficiency. Contemporary Accounting Research, 35(2), pp.1102-1139. David, R., 2017. Contribution of records management to audit opinions and accountability in government. SA Journal of Information Management, 19(1), p.14. DeLiema, M., Deevy, M., Lusardi, A. and Mitchell, O.S., 2020. Financial fraud among older americans: Evidence and implications. The Journals of Gerontology: Series B, 75(4), pp.861-868. Dewi, N., Azam, S. and Yusoff, S., 2019. Factors influencing the information quality of local government financial statement and financial accountability. Management Science Letters, 9(9), pp.1373-1384. Donelson, D.C., Ege, M.S. and McInnis, J.M., 2017. Internal control weaknesses and financial reporting fraud. Auditing: A Journal of Practice & Theory, 36(3), pp.45-69.Duffany, J.L., 2018. Computer Security. In Computer and Network Security Essentials (pp. 3-20). Springer, Cham. Farooqui, N.A. and Mehra, R., 2018, December. Design of a data warehouse for medical information system using data mining techniques. In 2018 Fifth International Conference on Parallel, Distributed and Grid Computing (PDGC) (pp. 199-203). IEEE. Harp, N.L. and Barnes, B.G., 2018. Internal control weaknesses and acquisition performance. The Accounting Review, 93(1), pp.235-258. Jacoby, G., Li, Y., Li, T. and Zheng, S.X., 2018. Internal control weakness, investment and firm valuation. Finance Research Letters, 25, pp.165-171. Kamaliah, K., Marjuni, N.S., Mohamed, N., Mohd-Sanusi, Z. and Anugerah, R., 2018. Effectiveness of monitoring mechanisms and mitigation of fraud incidents in the public sector. Administratie si Management Public, 30, pp.82-95. Lai, S.C., Li, H., Lin, H. and Wu, F., 2017. The influence of internal control weaknesses on firm performance. Journal of Accounting and Finance, 17(6), pp.82-95. Lawrence, A., Minutti-Meza, M. and Vyas, D., 2018. Is operational control risk informative of financial reporting deficiencies?. Auditing: A Journal of Practice & Theory, 37(1), pp.139-165. Liu, L., De Vel, O., Han, Q.L., Zhang, J. and Xiang, Y., 2018. Detecting and preventing cyber insider threats: A survey. IEEE Communications Surveys & Tutorials, 20(2), pp.1397-1417. Moses, T., 2019. Board Characteristics, Audit Committee Composition, And Financial Reporting in Nigeria. International Journal of Innovative Social Sciences & Humanities Research, 7(1), pp.37-44. Nadikattu, R.R., 2019. Data Warehouse Architecture–Leading the Next Generation Data Science. Rahul Reddy Nadikattu" Data Warehouse Architecture–Leading the next generation Data Science" International Journal of Computer Trends and Technology, 67(2019), pp.78-80. Putra, G.S.A. and Dwirandra, A.A.N.B., 2019. The effect of auditor experience, type of personality and fraud auditing training on auditors ability in fraud detecting with professional skepticism as a mediation variable. International research journal of management, IT and social sciences, 6(2), pp.31-43. Rahim, S.A.A., Nawawi, A. and Salin, A.S.A.P., 2017. Internal control weaknesses in a cooperative body: Malaysian experience. International Journal of Management Practice, 10(2), pp.131-151. Ramesh, R., Prabu, M., Magibalan, S. and Senthilkumar, P., 2017. Hazard identification and risk assessment in automotive industry. International journal of ChemTech research, 10(4), pp.352-358. Rathwell, B.W., Van Bossuyt, D.L., Pollman, A. and Sweeney, J., 2020. A Method to Account for Personnel Risk Attitudes in System Design and Maintenance Activity Development. Systems, 8(3), p.26. Saedi, R. and Dastgir, M., 2017. The effect of internal control weakness on investment efficiency of companies listed in Tehran stock exchange. International Journal of Finance & Managerial Accounting, 2(7), pp.25-31. Setiawan, S., 2018. The effect of internal control and individual morality on the tendency of accounting fraud. Asia Pacific Fraud Journal, 3(1), pp.33-41. Shikdar, M.A., Faruk, O. and Chowdhury, M.M.H., 2018. Reducing the audit expectation gap: A model for Bangladesh perspective. International Journal of Management, Accounting and Economics, 5(3), pp.169-180. Solodovnikova, D. and Niedrite, L., 2018, July. Towards a Data Warehouse Architecture for Managing Big Data Evolution. In DATA (pp. 63-70). Walker-Roberts, S., Hammoudeh, M. and Dehghantanha, A., 2018. A systematic review of the availability and efficacy of countermeasures to internal threats in healthcare critical infrastructure. IEEE Access, 6, pp.25167-25177. Ylmaz, E.N., Ciylan, B., Gönen, S., Sindiren, E. and Karacay?lmaz, G., 2018, April. Cyber security in industrial control systems: Analysis of DoS attacks against PLCs and the insider effect. In 2018 6th International Istanbul Smart Grids and Cities Congress and Fair (ICSG) (pp. 81-85). IEEE. Zhou, H., Owusu-Ansah, S. and Maggina, A., 2018. Board of directors, audit committee, and firm performance: Evidence from Greece. Journal of International Accounting, Auditing and Taxation, 31, pp.20-36.

Subject Name: Accounting

Level: Undergraduate

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