Macroeconomics

Control (management)

Engineering

Computer security

Information system

Risk assessment

Business continuity

Economics

Computer science

Risk analysis (engineering)

Business

Vulnerability (computing)

Business risks

Process management

Enterprise risk management

Risk management information systems

Management information systems

Productivity

Risk management

IT risk management

Artificial intelligence

IT risk

Finance

Electrical engineering

Factor analysis of information risk

Electronics

Businesses are bombarded with great deals of risks, vulnerabilities, and unforeseen business interruptions in their lifetime, which negatively affect their productivity and sustainability within the market. Such risks require a risk management system to identify risks and risk factors and propose approaches to eliminate or reduce them. Risk management involves highly structured practices that should be implemented within an organization, including organizational planning documents. Continuity planning and fraud detection policy development are among the many critically important practices conducted through risk management that aim to mitigate risk factors, their vulnerability, and their impact. Information systems play a pivotal role in any organization by providing many benefits, such as reducing human errors and associated risks owing to the employment of sophisticated algorithms. Both the development and establishment of an information system within an organization contributes to mitigating business-related risks and also creates new types of risks associated with its establishment. Businesses must prepare for, react to, and recover from unprecedented threats that might emerge in the years or decades that follow. This paper provides a comprehensive narrative review of risk management in information systems coupled with its application in fraud detection and continuity planning.

A Review on Risk Management in Information Systems: Risk Policy, Control and Fraud Detection