Big Data and corporate reporting: impacts and paradoxes

Al‐Htaybat, Khaldoon; Alberti‐Alhtaybat, Larissa von

doi:10.1108/aaaj-07-2015-2139

Cited by 135 publications

(127 citation statements)

References 32 publications

(100 reference statements)

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“…Our examination of the process of IFRS Taxonomy standardisation and its effects is timely in the context of 'big data' impacts on corporate reporting (Al-Htaybat & Alberti-Alhtaybat, 2017), and in particular given recent decisions of regulators in the EU and US concerning the use of IFRS Taxonomy. In December 2016, the European Securities and Markets Authority (ESMA) announced that EU-listed firms will be required to tag corporate IFRS reports using the IFRS Taxonomy from January 2020 (ESMA, 2016).…”

Section: Introductionmentioning

confidence: 99%

Transformation of accounting through digital standardisation

Troshani

Locke

Rowbottom³

2018

AAAJ

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Purpose Corporate reporting infrastructure and communication are being transformed by the emergence of digital technologies. A key element of the digital accounting infrastructure underpinning international corporate reporting is the IFRS Taxonomy, a digital representation of international accounting standards that is required by firms to produce digital corporate reports. The purpose of this paper is to trace the development, governance and adoption of the IFRS Taxonomy to highlight the implications for accounting practice and standard-setting. Design/methodology/approach The authors mobilise Actor Network Theory and a model of transnational standardisation to analyse the process surrounding the formation and diffusion of the IFRS Taxonomy as a legitimate “reference” of the IFRS Standards. The authors trace the process using interview, observation and documentary evidence. Findings The analysis shows that while the taxonomy enables IFRS-based reporting in the digital age, tensions and detours result in the need for a realignment of the perspectives of both accounting standard-setters and taxonomy developers that have transformative implications for accounting practice and standard-setting. Originality/value The study explains how and why existing accounting standards are transformed by technology inscriptions with reflexive effects on the formation and diffusion of accounting standards. In doing so, the paper highlights the implications that arise as accounting practice adapts to the digitalisation of corporate reporting.

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Section: Introductionmentioning

confidence: 99%

Transformation of accounting through digital standardisation

Troshani

Locke

Rowbottom³

2018

AAAJ

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“…The ESRM leader used a wide range of skill sets to be to be successful. According to the author [1], these skills are less related to security knowledge Leading the enterprise's security risk management effort is about being supportive to the business objectives and the board's goals, and aligning the company with those and pushing the program as part of the board's overall business aims and objectives innovative business, we do not have to be a Chief Financial Officer (CFO) or developer or retailer; what we have to be is a very good generalist and a good leader, somebody who can make decisions and get people on highly innovative on different functions in the organizations to engaged in trust [5]. What we are able to provide is the change in management innovation and the use of an appropriate approach to solve problems.…”

Section: The Necessary Skill Smentioning

confidence: 99%

“…According to the , these skills are less related to security knowledge than they are in the business world. Leading the enterprise's security risk management effort is about being supportive to the business objectives and the board's goals, and aligning the company with those and pushing the program erall business aims and objectives [1]. To understand the pure and innovative business, we do not have to be a Chief Financial Officer (CFO) or developer or retailer; what we have to be is a very good generalist and a good leader, somebody who can make sions and get people on highly innovative on different functions in the organizations to .…”

Section: Setsmentioning

confidence: 99%

“…In the paper, we analyze the data security from the perspective of these existing and emerging technologies that influence the accounting field, along with the exposure of the possible impact of security incidents [13]. The international accounting bodies emphasize the necessity to develop the appropriate skills for protecting the data and assuring confidentiality, integrity, and availability of the information by using efficient controls [1]. By adopting these technologies in the accounting field, the risk of sensitive data exposure increases and this regard the practitioners need to understand the necessity of preventing security incidents, even more, now as the most significant amount of vulnerable data is produced by the accounting and financial departments [26].…”

Section: The Benefit Of Technologies On Information Securitymentioning

confidence: 99%

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The Effect of Information Technology Using Enterprise Security Risk Management

Adekanye¹,

Rahman²

2018

IJNSA

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The philosophy of Enterprise Security Risk Management (ESRM) drives a risk-based approach to managing any security risks, physical or logical and holistically applies to every security process. There are globally established risk principles that are common among any developed risk management standard. This model associates the relationship of risk principles to the practice of managing security risks. The ESRM processes, when successfully and consistently adapted to a security program, will define what a progressive security program looks like, drive strategic through initiatives, build the business understanding of security's role to develop a budgeting strategy, and initiate board-level, risk-based reporting. The management security leader's role in ESRM is to manage risks and unthinkable harm to enterprise assets and stockholder in partnership with the business leaders whose assets are exposed to those risks management. ESRM is part of educating business leaders on the realistic of impacts. These identified risks, presenting any potential strategies to mitigate those impacts, and enacting the option chosen by the business in line with acceptable levels of business risk tolerance. The present data should be used to showcase how our service helps identify, evaluate, and mitigate risks at face value that would be detrimental to a company's long-term prosperity. We need to show how using our security risk management will ultimately benefit the company's work by improving policies and procedures and reducing other expenses through the use of risk principles management.

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“…Unlike modern ERP systems that contain mostly structured data with clear connections, Big Data offers the advantage of analyzing unstructured or semi-structured data from the entire economic environment, which has the potential of changing our perception of certain economic trends. Regarding the perception of accountants in practically use Big Data as a tool to create more accurate forecasts and to appropriately address particular problems, research has shown that the overall feedback is positive (Al-Htaybat & Alberti-Alhtaybat, 2017).…”

Section: Literature Review -Information Technologies and New Challengmentioning

confidence: 99%

Emerging information technologies in accounting and related security risks – what is the impact on the Romanian accounting profession

Rîndașu¹

2017

JAMIS

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Abstract:This study investigates whether aspiring and professional accountants understand the benefits and security challenges brought by emerging technologies such as: Big Data, data analytics, cloud computing and mobile technologies. 115 participants took part in a survey during January and February 2017, all having at least one year of practical experience in accounting or audit and 80% of them being affiliated with national or international accounting professional bodies. The research has three key findings: (1) Professional accountants and auditors are having in average a theoretical knowledge of the emerging technologies in the accounting field, but they still need to enhance their skills to exploit them efficiently, (2) Mobile technologies started to be adopted by the Romanian practitioners and (3) The profession has become aware of the security risks brought by emerging technologies in the digital accounting. The accounting profession is on the verge of change and the practitioners do not yet possess sufficient skills regarding the analyzed emerging technologies. As per this, the professional bodies and academic environment should reassess their curricula to enforce the necessary changes for preparing practitioners to successfully face the future challenges and avoid their replacement by other professions more qualified.

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Big Data and corporate reporting: impacts and paradoxes

Cited by 135 publications

References 32 publications

Transformation of accounting through digital standardisation

Transformation of accounting through digital standardisation

The Effect of Information Technology Using Enterprise Security Risk Management

Emerging information technologies in accounting and related security risks – what is the impact on the Romanian accounting profession

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