A Systematic Literature Review on the Impact of Cybersecurity Threats on Corporate Governance During the Covid-19 Era

Gorejena Nyasha, Lilian Ifunanya Nwosu (), Makuena Clementina Bereng, Calvin Mahlaule () and Tlotlo Segotso ()
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Gorejena Nyasha: North West University
Lilian Ifunanya Nwosu: North West University
Makuena Clementina Bereng: North West University
Calvin Mahlaule: North West University
Tlotlo Segotso: North West University

A chapter in Towards Digitally Transforming Accounting and Business Processes, 2024, pp 157-174 from Springer

Abstract: Abstract When the Covid-19 pandemic erupted, many companies faced unprecedented challenges, including cybersecurity threats due to increased dependence on technology. Cybersecurity refers to the set of security measures that can be taken to protect cyberspace and user assets against unauthorized access and attacks. It has always been a challenge that has affected the company’s existing corporate governance and compliance process. However, during the Covid-19 period, cyber-attacks and dangers increased significantly, posing a new set of challenges to the companies, which in turn had a negative effect on the economy. The purpose of this study was to provide a comprehensive Systematic Literature Review (SLR) on the effects of cybersecurity threats on corporate governance during the Covid-19 pandemic and to identify the existing literature review gaps as well as the challenges and recommendations on how to deal with the identified threats. A preferred reporting item for systematic and meta-analysis-based reviews (PRISMA) was conducted manually on 18 sampled publications. This study utilized a qualitative approach to review published research on corporate governance and cybersecurity threats during the Covid-19 era. The findings revealed that during the Covid-19 period, increasing cyber-attacks were carried out against many companies. The study also revealed that social distancing requirements forced most company directors to review corporate information and participate in sensitive discussions online in their homes or places far less secure than the director’s typical business office or company boardroom. As a result, the increased volume of work being performed remotely presents opportunities for cybercriminals to tailor and retool schemes to target directors and those in charge of the company’s corporate governance. This study could significantly contribute to the body of knowledge by highlighting the potential challenges cybersecurity as well as the suggestion on how companies could minimize the risks encountered.

Keywords: COVID-19; Cybersecurity; Corporate governance; Systematic literature review; Cybersecurity threats (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-46177-4_9

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DOI: 10.1007/978-3-031-46177-4_9

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