Analytics in Finance and Risk Management

10 Use of automated accounting information systems and operational risk in preparation of financial statements An experimental study

Maciej Andrzej Tuszkiewicz and Ewa Wanda Maruszewska

DOI: 10.1201/9780367854690-10

1 Introduction

Risk has been a research topic for many years in many disciplines. In finance, up until the Global Financial Crisis (GFC),¹ risk research was mostly concentrated on identification, quantification, and measurement as well as risk management of credit and market risks (Chernobai et al., 2007; Mačerinskienė et al., 2014). The third risk – operational risk – was neglected (Chernobai et al., 2007). The research made a clear distinction between risk and uncertainty. Risk is not knowing what will happen in the future but ...