Book Image

Managing Data Integrity for Finance

By : Jane Sarah Lat
Book Image

Managing Data Integrity for Finance

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)
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

Understanding the Data Integrity Management Capabilities of Business Intelligence Tools

Imagine that you are the Chief Financial Officer (CFO) of a multinational corporation. It’s the end of the fiscal quarter and your team is working tirelessly to finalize the quarterly financial reports. Just when you think you are ready to present the numbers to the board, an internal audit unfortunately reveals discrepancies in the financial data reported! The consequences are distressing as incorrect financial statements could mislead investors, result in regulatory penalties, and severely damage your company’s reputation. In today’s data-driven business landscape, scenarios like this underline the importance of ensuring the quality and integrity of financial data for decision-making and compliance. Poor data quality can indeed lead to erroneous financial statements, misinformed business decisions, and regulatory violations, among other costly issues. This is where the role...