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VOL. 9, ISSUE 4 (2024)
The role of information dynamics in detecting and preventing fraud in accounting systems: A focus on emerging technologies
Authors
Seema Chauhan, Dr. Umesh Sharma
Abstract
This paper explores the role of information
dynamics in detecting and preventing fraud within accounting systems, focusing
on emerging technologies such as artificial intelligence (AI), blockchain, and
machine learning. Fraud remains a significant issue in the financial sector,
and this research aims to assess the effectiveness of these technologies in
enhancing fraud detection mechanisms. Some research objectives include how AI,
blockchain, and big data analytics might prevent fraud. How information
dynamics might influence fraud detection efficiency and accuracy will be
considered. Then, the researchers evaluate the extent to which the impact of
the new technologies determines the transparency level in finance or whether
they provide greater regulatory compliance. A simple random sampling has been
used while gathering 100 professionals from accounting and financial
departments. Data is collected using a structured questionnaire that evaluates
the frequency of use, effectiveness, and challenges associated with these
technologies. The results indicate that AI is the most widely adopted
technology for fraud detection, followed by blockchain and machine learning. AI
is perceived as the most effective in combating fraud with significant strong
positive correlations between the technologies. Furthermore, important
discrepancies in perceived performance between the said technologies along each
of the auditor, financial analyst, and fraud investigator positions have been
revealed. The conclusions brought about in the findings provide possible
prospects that will help reshape how fraud prevention processes can take off in
enhancing account integrity systems overall. It serves to increase
comprehension on the various ways that next-generation technologies reduce the
dangers that accompany fraudulent operations and better accountability to
regulators.
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Pages:49-54
How to cite this article:
Seema Chauhan, Dr. Umesh Sharma "The role of information dynamics in detecting and preventing fraud in accounting systems: A focus on emerging technologies". International Journal of Advanced Education and Research, Vol 9, Issue 4, 2024, Pages 49-54
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