Protecting a new Achilles heel: the role of auditors within the practice of data protection

Torre, Matteo La; Botes, Vida; Dumay, John; Odendaal, Elza

doi:10.1108/maj-03-2018-1836

Cited by 17 publications

(15 citation statements)

References 75 publications

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“…It is crucial for current SBs to have additional knowledge of the digital infrastructure to understand how the system operates and that mediates data security risks (see example Moudud-Ul-Huq, 2022; Ahmed et al, 2022). A recent study also highlighted important places for the institution to rebuild and transform their governance structure, process, procedures and human capital into a modern digital financial system to gain value with proper practices of big data analytics (La Torre et al, 2018Torre et al, , 2021). An internal auditor, who is an engineering degree holder and Chartered Bank Auditor, asserted: Similar to the distributed ledger system in blockchain, our bank used that system to develop our own cloud-based storage.…”

Section: Financial Innovation In Islamic Banksmentioning

confidence: 99%

Financial innovation in Islamic banks: evidence on the interaction between Shariah board and FinTech

Haridan

Hassan

Shah

et al. 2023

JIABR

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Purpose This study aims to investigate the significant role of the Shariah Board (SB) in the innovation of digital finance products through SBs’ interaction with financial technology (FinTech). Design/methodology/approach By using semi-structured interviews, the paper examines 34 views and experiences of scholars and other practitioners from the FinTech and Islamic banking industries to gain an in-depth understanding of SBs’ Shariah compliance roles in FinTech inclusion in Malaysian Islamic banks (IBs). Findings Taking advantage of Malaysia’s comprehensive Shariah Governance Framework for IBs, the study highlighted the importance of SBs to better address the opportunities and challenges of financial innovation for the development of IBs with the inclusion of FinTech. The authors found that digital solutions and tools, such as Robo Advisory system and blockchain, enhance SBs’ roles by providing more effective and timely Shariah assurance regardless of the volume of data information and storage. Practical implications Given SBs significant roles in conforming to the Shariah, the study contributed significantly to assisting the regulatory and policy promulgation that enhance SBs’ integrity and credibility in response to the growth of IB infrastructures and financial innovation. Originality/value To the best of the authors’ knowledge, this is the first study to investigate the significant role of SBs in the innovation of digital finance products through their interaction with FinTech, while prior studies focused on the characteristics and structure of Islamic digital financial products.

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Section: Financial Innovation In Islamic Banksmentioning

confidence: 99%

Financial innovation in Islamic banks: evidence on the interaction between Shariah board and FinTech

Haridan

Hassan

Shah

et al. 2023

JIABR

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“…At the same time, with the increased access to different types of data and information, we believe that ethical issues and moral judgement from auditors will be required more often. As La Torre et al (2021, p. 235) argue:Auditors should be concerned about the risks of privacy breaches deriving not only from both external unauthorised access but also from accessing and using certain corporate and external data to perform audit activities; the latter being a task that needs to engage principles that go beyond legal prohibitions.…”

Section: Key Research Topics: Focus and Critiquementioning

confidence: 99%

Blockchain in accounting research: current trends and emerging topics

Garanina

Ranta

Dumay

2021

AAAJ

Self Cite

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PurposeThis paper provides a structured literature review of blockchain in accounting. The authors identify current trends, analyse and critique the key topics of research and discuss the future of this nascent field of inquiry.Design/methodology/approachThis study’s analysis combined a structured literature review with citation analysis, topic modelling using a machine learning approach and a manual review of selected articles. The corpus comprised 153 academic papers from two ranked journal lists, the Association of Business Schools (ABS) and the Australian Business Deans Council (ABDC), and from the Social Science Research Network (SSRN). From this, the authors analysed and critiqued the current and future research trends in the four most predominant topics of research in blockchain for accounting.FindingsBlockchain is not yet a mainstream accounting topic, and most of the current literature is normative. The four most commonly discussed areas of blockchain include the changing role of accountants; new challenges for auditors; opportunities and challenges of blockchain technology application; and the regulation of cryptoassets. While blockchain will likely be disruptive to accounting and auditing, there will still be a need for these roles. With the sheer volume of information that blockchain records, both professions may shift out of the back-office toward higher-profile advisory roles where accountants try to align competitive intelligence with business strategy, and auditors are called on ex ante to verify transactions and even whole ecosystems.Research limitations/implicationsThe authors identify several challenges that will need to be examined in future research. Challenges include skilling up for a new paradigm, the logistical issues associated with managing and monitoring multiple parties all contributing to various public and private blockchains, and the pressing need for legal frameworks to regulate cryptoassets.Practical implicationsThe possibilities that blockchain brings to information disclosure, fraud detection and overcoming the threat of shadow dealings in developing countries all contribute to the importance of further investigation into blockchain in accounting.Originality/valueThe authors’ structured literature review uniquely identifies critical research topics for developing future research directions related to blockchain in accounting.

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“…Moving to the country-wise classification of the selected papers, Table 3 shows that 34 papers were conducted worldwide (Al-Omoush et al, 2021;la Torre et al, 2019;Salijeni et al, 2019;Tang & Karim, 2019). Apart from that, eight papers were done in South Africa, while six papers were done in the USA.…”

Section: 205%mentioning

confidence: 99%

The Dilemma of Information Overload: A Review of Literature from Accounting and Finance Related Studies

Regina

Munasinghe

2022

S. Asian J. Finance

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Purpose: Advancements in information and communication technologies enable the production of a mass amount of data and information. Do more information support quality decision-making? It is a dilemma. The purpose of this study is to address the findings related to information overload and discover potential research gaps.Design/Methodology/Approach: This paper aims to analyze the nature and trends of literature on information overload in the field of accounting and finance from 2017 to 2021 by adopting a systematic literature review approach. As a result of bibliometric analysis from the selected peer-reviewed journals, this paper shed light on 83 research papers for the review process.Findings: The current study finds an increasing trend of studies focusing on information overload issues in corporate reporting. Results portray that since corporate reports are the critical communication bridge between entities and their stakeholders, disseminating unclouded, coherent and transparent information through the reports is very important to facilitate users and decision-makers. Stakeholder perception studies on content, length, and readability of financial and non-financial information disclosures in the annual reports are suggested for future research endeavors.Originality: This study originates the point where the causes of information overload literally become a burden for effective decision-making. Thus, the finding of this study will be useful for both preparers and users of information in managing both financial and noninformation and help future researchers to spot gaps for upcoming research.

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Protecting a new Achilles heel: the role of auditors within the practice of data protection

Cited by 17 publications

References 75 publications

Financial innovation in Islamic banks: evidence on the interaction between Shariah board and FinTech

Financial innovation in Islamic banks: evidence on the interaction between Shariah board and FinTech

Blockchain in accounting research: current trends and emerging topics

The Dilemma of Information Overload: A Review of Literature from Accounting and Finance Related Studies

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