Impact Of Document Security And Information Resource Management On The Accounting System

Project and Seminar Material for Accountancy / Accounting

Impact Of Document Security And Information Resource Management On The Accounting System


Abstract


This study was carried out on impact of document security and information resource management on the accounting system. Chartered Institute of Bankers of Nigeria (CIBN) and some selected employee of First Bank of Nigeria PLC (FBN), Ikeja branch who are banking personnel as both Cash control/ management officers, tellers, lecturers that are into Accounting Discipline. In order to obtain relevant data, the research method adopted for the study was a survey method. The population of the study is eight hundred (800) staff of the banking sector Resources, ikeja, Lagos. The study adopted a sample size of 260. The instrument used for data collection was the questionnaire. The questionnaire was carefully designed so as to elicit the necessary information from the subjects. Analysis and Interpretation Data analysis was conducted by subjecting the collected data using Statistical Package for Social Sciences (SPSS). The study concluded that it is important to emphasize that the single most valuable control is user education and training.


Chapter One


Introduction

1.1 Background of Study

Document in its fullest meaning implies any material which contains “hark” symbols or signs either visible, partially visible or invisible that may be presently or ultimately convey a meaning or message to someone or a system: pencil or ink writing, writing or printing on paper is the most usual form.

Like writing the origin (history) of document is not quite clear and certain, but the history of document is as old as human race. Document security is the physical protection involving the guiding of documents and classified papers from loss, unauthorized person, damage, pilferage, theft and compromise through disclosures. Safeguarding vital records (documents inclusive) is one of the most difficult tasks that can be assigned to any employee of a particular organization.

Classified documents needs special and concerned handling. Lack of indoctrination and orientation among personnel handling these document(s) can result in loss, pilferage, leakage, theft and unauthorized disclosure of document. There is no Nation, society, community or organization today that can boost of engaging in business transactions, personal or group oriented undertakings without the use of document. Document is the blood stream of business activities when this is absent intra as well as inter group communication will be hampered and business life will be completely disrupted.

Information Resource Management

Every document contains information. A business greatest resource is information and it is essential not only in modern living, but also in the administration and exception of most activities, in every enterprises, information basically help to assist it’s recipients in the execution of task hence Management of information is vital.

To perform, it’s satisfactorily necessitate an understanding of information and all the consideration comprising the activities of information administration. Information is needed primarily for two major reasons viz:

  • To serve as discipline
  • To provide the basis for decisions

Information can be classified into:

a) Repetive information:

These are generated at intervals of not less than one year e.g. inventory information.

b) Non‑repetive information:

These are special studies made to assist managers.

c) Operational information:

It is the information employed by Operational Managers to plan and carry out daily operations of the business.

d) Compulsory information:

It is that information required by the Government and other external agencies including audit firms and insurance companies e.g. annual financial statements: Accountant’s Reports “letter of pre‑merger consent” etc.

e) Active information:

Requires it’s recipient’s to take actions.

f) Passive information:

Information that does not require it’s recipients to take actions.

g) Past and future information:

Planning requires future information and projections based on past information.

Attribute of Information

A classic study in the 1950’s by Simon et al, identified three attributes of accounting information as follows

  1. It should be useful for score keeping, seeing how well the organization is doing overall.
  2. It should be useful for attention ‑ directing; indicating problem that need to be investigated.
  3. It should be useful for problem solving a means of evaluating alternative responses to the situation in which the organization find itself.

1.2 Statement of Problems

There is no Nation, society, community or organization today that can boast of engaging in business transactions, personal or group oriented undertakings without the use of documents. Documents are the blood stream of business activities.


1.3 Research Questions

  1. What type of ICT facilities are available in the banking sector?
  2. What are the effects of ICT on information resource management in the banking sector?
  3. How does the use of ICT for information resource management enhance staff activities and productivity in the banking sector?
  4. Who are the personnel/officers involved in information resources management in the banking sector? (categories, qualifications, adequacy, training and development programmes).
  5. What are the facilities used for the protection, security and preservation of information resources in the banking sector?
  6. What factors militated against effective information resource management in the banking sector?

1.4 Objectives of Study

  1. Identify the facilities/equipment available for information resource processing in the banking sector.
  2. To find out what type of ICT facilities are available in the banking sector.
  3. To find out the effects of ICT on information resources management in the banking sector. vii. To find out how the use of ICT for information resource management enhance staff activities and productivity in the banking sector.
  4. To identify the Personnel/Officers involved in information resource management in the banking sector.
  5. To identify the facilities used for the protection, security and preservation of information resources in the banking sector.
  6. To find out the factors that militate against effective information resource management in the banking sector.

1.5 Scope of the Study

The scope of this study is limited to Chartered Institute of Bankers of Nigeria (CIBN) and some selected employee of First Bank of Nigeria PLC (FBN), Ikeja branch who are banking personnel as both Cash control/ management officers, tellers, lecturers that are into Accounting Discipline. It is worthy to note that smart phones and social networking sites will be treated as two separate variables affecting academic performance.


1.6 Definition of Terms

1. Forgery:

This refers to falsification. of documents and or signature.

2. Transactions:

This involves buying and selling and other related business activities.

3. Graphology:

This implies the assessment of personality traits from a person handwriting. It also means the study of handwriting.

4. Transmitting:

To disseminate, give or send out data.

5. Inventory:

This is the stock of materials or component which an organisation uses in the manufacturing process.


Chapter Five


Conclusion and Recommendations

Before establishing the control procedures, banks recognized that, it is important to emphasize that the single most valuable control is user education and training. Therefore, most banks established center for training because they believe that an effective and ongoing education makes every member of the bank aware of the vital importance of information security.

Nonetheless, it is important to remember that it is not enough just to establish a series of controls; someone or some department must be accountable for the control and the security of the network. This includes being responsible for developing controls, monitoring their operation, and determining when they need to be updated or replaced. Controls reviewed periodically to be sure that they are still useful and must be verified and tested. Verifying ensures that the control is present, and testing determines whether the control is working as originally specified. It is also important to recognize that there may be occasions in which a person must temporarily override a control, for instance when the network or one of its software or hardware subsystems is not operating properly.

Such overrides should be tightly controlled, and there should be a formal procedure to document this occurrence should it happen. 27 Following is a list of some of the more common commercial data mining software products used by fraud examiners: WizRule, Financial Crime Investigator, IDEA (Audimation Services, Inc.), Monarch, Analyst‟s Notebook (i2 Inc.), and ACL for Windows is the most commonly used software package. This software allows the fraud examiner to perform various analytical functions without modifying the original data. ACL is very beneficial in fraud detection due to its ability to quickly and thoroughly analyze a large quantity of data in order to highlight those transactions often associated with fraudulent activity. ISSN: 2306-9007 Bawaneh (2014) 1186 I www.irmbrjournal.com June 2014 International Review of Management and Business Research Vol. 3 Issue.2 R M B R Accountants are now being held professionally responsible for reducing risk, assuring compliance, eliminating fraud, and increasing the transparency of transactions according to generally accepted Accounting principles (GAAP). Furthermore, and in regards to the ethical issue, accountants now are being held professionally and personally responsible for increasing the transparency of transactions and assuring compliance with GAAP. The regulatory agencies, such as the SEC in the USA, require information security, fraud prevention and detection, and internal controls over financial reporting. Also, require accounting departments to adhere to strict ethical principles. The accounting function is intimately concerned with keeping track of a bank‟s transactions and internal controls. Modern databases enable accountants to perform these functions more effectively. Databases help accountants manage the flood of data in today‟s organizations so that they can keep their firms in compliance with the standards imposed by e.g. Sarbanes-Oxley. Good security for banks starts with a clear disaster recovery plan and a solid security policy which are not applied and many banks are not conducting a risk assessment procedure.

Probably the best security investment in Jordanian banks is user training: training individual users on data recovery and ways to defeat social engineering. But this doesn‟t mean that technologies aren‟t needed either. Therefore, most banks now routinely use antivirus software, firewalls, VPNs, encryption, and IPS. So what may we expect in the future in “secure” organizational environments? This issue needs more research.


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