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Managing Data Integrity for Finance

Managing Data Integrity for Finance

By : Jane Sarah Lat
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Managing Data Integrity for Finance

Managing Data Integrity for Finance

5 (4)
By: Jane Sarah Lat

Overview of this book

Data integrity management plays a critical role in the success and effectiveness of organizations trying to use financial and operational data to make business decisions. Unfortunately, there is a big gap between the analysis and management of finance data along with the proper implementation of complex data systems across various organizations. The first part of this book covers the important concepts for data quality and data integrity relevant to finance, data, and tech professionals. The second part then focuses on having you use several data tools and platforms to manage and resolve data integrity issues on financial data. The last part of this the book covers intermediate and advanced solutions, including managed cloud-based ledger databases, database locks, and artificial intelligence, to manage the integrity of financial data in systems and databases. After finishing this hands-on book, you will be able to solve various data integrity issues experienced by organizations globally.
Table of Contents (16 chapters)
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1
Part 1: Foundational Concepts for Data Quality and Data Integrity for Finance
5
Part 2: Pragmatic Solutions to Manage Financial Data Quality and Data Integrity
10
Part 3: Modern Strategies to Manage the Data Integrity of Finance Systems

Summary

In this chapter, we discussed the importance of data integrity as a critical foundation for every organization making financial data-driven decisions. We learned how to detect manual data encoding errors by implementing data validation, conducting data audits, and performing timely account reconciliations. Next, we covered the most common account reconciliation problems and how to avoid them using known procedures and available tools. We also discussed how to prevent balance sheet data integrity issues since the balance sheet is one of the major financial reports that businesses prepare and that stakeholders use when making decisions. Toward the last half of the chapter, we covered how to handle data corruption and data integrity issues in systems and databases using various strategies and solutions.

This chapter gave a comprehensive overview of the complex challenges and issues of various companies and how to address and mitigate them. In the next chapter, we will dive...

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