Technology cannot eliminate human error

Technology cannot eliminate human error. In 2013 American companies were fined almost $7bn for accounting mistakes. a Bloomberg survey has identified the five most common errors

1. Manually inputting incorrect data into an enterprise system.

2. Saving a file with corporate financial or tax information onto a personal device

3. Accidentally deleting a custom excel formula used to calculate corporate tax data

4. Override data in an enterprise system and replace with data / information calculated outside of the system.

5. Working on a non-secure public WiFi network.

Source: The top tax & accounting mistakes that cost companies millions, Bloomberg BNA, Software products December 2014