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

Learning how fraudulent transactions affect overall financial report integrity

In this section, we will discuss fraudulent transactions and their damaging effects on the overall integrity of financial reports. Fraudulent transactions, characterized by deceit, manipulation, and misrepresentation, pose a significant threat to the credibility and accuracy of financial information.

There are governing bodies all over the world that are involved in fraud prevention to safeguard the interests of investors, uphold a fair and productive market, and aid in capital investments. Some of the major regulatory bodies in the world include the Securities and Exchange Commission (SEC) in the United States, the Financial Conduct Authority (FCA) in the United Kingdom, the Financial Services Agency (FSA) in Japan, and the Australian Securities and Investments Commission (ASIC) in Australia.

According to the SEC, the most common reasons for committing fraud are as follows:

  • Fulfilling earnings...