Internal Control Computerization for Derivatives

• Autores: Seokjoo Andrew Chang, Guy Fernando, Mohamed E. Hussein, Kinsun Tam
• Localización: The International Journal of Digital Accounting Research, ISSN 1577-8517, Vol. 12, Nº. 18, 2012, págs. 121-144
• Idioma: inglés
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• Resumen

  • Derivatives were at the center stage of many financial scandals, incidents of massive trading losses, as well as the subprime mortgage crisis of 2008. Monitoring of derivatives transactions is desperately needed. As derivatives trading systems are computerized, management and accountants need to acquire IT knowledge and skills necessary to evaluate computerized internal controls on derivatives. To prepare management and accountants for derivatives control monitoring, this paper discusses implementation of computerized internal controls in relational database management systems over the life cycle of derivatives transactions.