Does the recognition, measurement and disclosure provide the user of financial reports with sufficient information to discern the nature of the significant transactions and risks of the organization?” But rules alone do not guarantee good financial reporting. For Enron and other recent examples, weak corporate governance practices apparently permitted sham transactions and misleading financial reporting to occur.
The management over third party outsource service provider should be strengthened, and their responsibility to keep customer information and transaction information confidential should be clearly defined. Risk evaluation on outsource business and outsource service provider should be conducted regularly, and cardholders are educated to use bankcards in a safe way.