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 advantages. RPA risk management has received little attention in prior accounting research and practice. We'll discuss risks and control considerations important to achieving the return on RPA investment and maintaining the integrity of the automated processes, substantiated by interviews with 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 must evolve for RPA risk management.
Learning Objectives
- Design a comprehensive RPA risk management framework integrating insights from RPA and risk professionals to mitigate potential risks and maximize ROI.
- Evaluate and propose skill development strategies for enhancing RPA risk management proficiency among accounting and risk professionals within an organizational context.
Major Topics
- Robotic Process Automation
- Risk Management
