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Cloud accounting risks and mitigation strategies: evidence from Australia

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  • Daisy Yau-Yeung
  • Ogan Yigitbasioglu
  • Peter Green

Abstract

Much has been written about the adoption and benefits of cloud computing in different contexts, yet it is not clear how cloud computing has affected the practice of accounting. This empirical study applies transaction cost economics to explore the risks of cloud-based accounting systems and services in Australia and it identifies several risk mitigation strategies adopted by organisations. The findings based on interviews with accounting practices, amongst others, are classified according to the Technology-Organisation-Environment framework. The evidence suggests that cloud accounting not only introduces specific risks to the “accounting process” but some of the known risks associated with other cloud-based applications are more pronounced. While transaction-specific factors such as vendor selection and contractual arrangements were considered important as risk mitigation strategies, internal measures including policy development and staff training were seen as critical to cloud accounting.

Suggested Citation

  • Daisy Yau-Yeung & Ogan Yigitbasioglu & Peter Green, 2020. "Cloud accounting risks and mitigation strategies: evidence from Australia," Accounting Forum, Taylor & Francis Journals, vol. 44(4), pages 421-446, October.
    • Handle: RePEc:taf:accfor:v:44:y:2020:i:4:p:421-446
    DOI: 10.1080/01559982.2020.1783047
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    Cited by:

    1. María de los Angeles López & Diana Albanese, 2021. "Riesgos derivados del uso de la computación en la nube que impactan en la auditoría de Estados Financieros," Audit.Ar, Instituto de Investigaciones y Estudios Contables, Facultad de Ciencias Económicas, Universidad Nacional de La Plata, vol. 1(1), pages 1-8, May-Octob.
    2. Tatyana Rogulenko & Evgeniy Vladimirovich Orlov & Oleg Alexandrovich Smolyakov & Anna Vladimirovna Bodiako & Svetlana Valeryevna Ponomareva, 2021. "Analytical Methods to Assess Financial Capacity in Face of Innovation Projects Risks," Risks, MDPI, vol. 9(9), pages 1-22, September.
    3. Ma, Darren & Fisher, Richard & Nesbit, Trevor, 2021. "Cloud-based client accounting and small and medium accounting practices: Adoption and impact," International Journal of Accounting Information Systems, Elsevier, vol. 41(C).

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