Analyzing the Impact of Digitalization on Financial Control Systems and Risk Management Practices in Corporations
Posted: Oct 21, 2021
Abstract
The rapid acceleration of digital transformation across corporate landscapes has precipitated a fundamental reconfiguration of financial control systems and risk management practices. This research addresses the critical intersection of technological advancement and financial governance, examining how digitalization is not merely enhancing existing control mechanisms but fundamentally redefining their architecture and operational dynamics. Traditional financial control systems, characterized by periodic reviews and manual oversight, are increasingly inadequate in an era defined by real-time data flows, algorithmic decision-making, and unprecedented operational complexity. The digitalization of financial controls represents a paradigm shift from reactive compliance to proactive risk intelligence, necessitating a comprehensive examination of both the opportunities and emergent vulnerabilities. Our research is distinguished by its focus on the systemic interdependencies between digital technologies and organizational control structures.
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