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Methodology is defined as (1) "a body of methods, rules, and postulates employed by a discipline", (2) "a particular procedure or set of procedures", or (3) "the analysis of the principles or procedures of inquiry in a particular field" (Merriam–Webster). The common idea here is the collection, the comparative study, and the critique of the individual methods that are used in a given discipline or field of inquiry.

Methodology refers to more than a simple set of methods; rather it refers to the rationale and the philosophical assumptions that underlie a particular study. This is why scholarly literature often includes a section on the methodology of the researchers. This section does more than outline the researchers’ methods (as in, “We conducted a survey of 50 people over a two-week period and subjected the results to statistical analysis,” etc.); it might explain what the researchers’ ontological or epistemological views are. (See ontology , epistomology)

For instance, do the researchers believe in the positivist (see Positivism) paradigm, which holds that truth is out there, waiting to be discovered? In this view, facts exist independently of any theories or human observation. This is very much a view in the Western philosophical tradition, which informs Western science: reality is assumed to be objective – that is, it exists outside of our perceptions of things. And so, in this paradigm, neither the search for truth nor truth itself is problematic; Truth (with a capital "T") is definite and ascertainable. The “men in white coats” conduct an empirical experiment in a lab and then pronounce to the rest of us what they, as “experts,” have discovered.

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Risk control procedures are not enough to mitigate fraud on Wall Street. The current financial meltdown provides evidence that many banks and financial institutions have failed to change systems and people in order to mitigate fraud and to comply with regulations and standards. Biometric authentication is a reliable solution for preventing security breaches. Knowledge Center contributors Paul Foote and Reena Hora explain why the financial industry needs to supplement its internal controls compliance with biometric authentication. - Daily, trillions of dollars are transferred worldwide in funds and securities through financial systems. The magnitude of this exposes the financial institutions and their customers to a very high risk of deliberate and accidental fraud. Many government and industry regulations and standards such as...
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