Robotic Process Automation (RPA) provides organizations numerous benefits in achieving efficiency and effectiveness, but not without risks. Without proper management, the risks posed by RPA may outweigh its intended benefits. RPA risk management has received little attention in prior accounting research and in practice. We discuss risks and control considerations important to achieving the return on RPA investment and maintaining the integrity of the automated processes. We substantiate our discussion by interviewing RPA and risk professionals. Our interviewees suggest that RPA risk management provides incremental value in addition to risk management of Enterprise Resource Planning (ERP) systems, that the skillset needed for RPA risk management may be missing among risk professionals, and that existing risk and control frameworks need to evolve for RPA risk management. Our discussion stimulates future research and helps organizations as they begin to consider RPA risk management.
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Research Article|
December 02 2022
RPA Risk Management: Points to Consider
Yue (Bright) Hong
;
Yue (Bright) Hong
DePaul University - Loop Campus: DePaul University
Assistant Professor
Accounting
1 E Jackson Blvd Suite 6000
UNITED STATES
Chicago
IL
60604
3123625142
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Hui Lin
Hui Lin
UNITED STATES
DePaul University
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Received:
January 28 2022
Revision Received:
September 01 2022
Revision Received:
November 22 2022
Accepted:
November 30 2022
Online Issn: 1558-7940
Print Issn: 1554-1908
2022
Journal of Emerging Technologies in Accounting (2022)
Citation
Yue (Bright) Hong, Michael Ly, Hui Lin; RPA Risk Management: Points to Consider. Journal of Emerging Technologies in Accounting 2022; https://doi.org/10.2308/JETA-2022-004
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Behavioral Research in Accounting (BRIA) publishes theoretical and empirical research concerning how accounting affects and is affected by individuals and organizations.
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