65. Information Systems Strategies to Reduce Financial Corruption

Small and large organizations use available technologies to manage business activities and assist in decision making. Most organizations operate their business activities efficiently using various information systems (IS). These systems are used to collect data and process it according to the analyst, manager, or business owners’ needs. Among the existing systems, the organization normally used financial information systems (FISs) to accumulate and analyze financial data for optimal financial planning and forecasting decisions and outcomes. FIS closely linked with all aspects of administrative in the organizations. This system is an integral part of business and is fundamental for stability, sustainability, and growth of an organization. In recognition of the importance of FIS, various countries and international organizations started to invest in such systems. This system is increasingly being used to improve transparency in the organizations and as a result FIS can play an important role in fighting corruption in public finance systems. This chapter aims to investigate and to identify the existing IS strategies that are used in fighting financial corruption. The finding reveals that there are a number of IS strategies to combat corruption but among those FISs possess the ability to contribute effectively towards anticorruption efforts. At the end, this chapter identifies five factors of FIS that contribute to anticorruption strategies. This study could play a significant role in explaining the complex relationship between the related factors and the quality of FISs to facilitate the anticorruption process.