Cybersecurity in Accounting: Protecting Financial Data in the Digital Age

Latul Hasan, Muhammed Zakir Hossain, Fatema Tuj Johora and Mohammad Hasibul Hasan
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Latul Hasan: International American University, USA
Muhammed Zakir Hossain: State University of Bangladesh, Bangladesh
Fatema Tuj Johora: State University of Bangladesh, Bangladesh
Mohammad Hasibul Hasan: International American University, USA

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Abstract: This research paper analyzes the crucial importance of cybersecurity in protecting financial data in the accounting profession in the context of increasing cyber threats. As accounting firms face a rising number of cyber-attacks, the implementation of stringent security measures is imperative. This study employs qualitative analysis, comprising case studies and expert interviews, to examine the integration of advanced cybersecurity technologies, including AI, blockchain, and encryption, by major firms such as Deloitte, PwC, and EY into their operations. The findings underscore the efficacy of multi-layered security strategies in improving data protection and fraud detection, although challenges such as elevated costs and the swift evolution of threats remain. The study examines the influence of cybersecurity on accounting practices, highlighting enhancements in data integrity and client trust, while emphasizing the necessity for ongoing training and interdisciplinary knowledge. Ethical and regulatory considerations are examined, emphasizing adherence to international standards. This study concludes with recommendations for professionals, educators, and policymakers, emphasizing the necessity for ongoing innovation and vigilance to safeguard financial data in the digital era.

Keywords: Fraud Detection; Data Integrity; Blockchain; Artificial Intelligence; Financial Data Protection; Accounting; Cybersecurity (search for similar items in EconPapers)
Date: 2024-11-01
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Published in European Journal of Applied Science, Engineering and Technology, 2024, 2 (6), pp.64-80. ⟨10.59324/ejaset.2024.2(6).06⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05736402

DOI: 10.59324/ejaset.2024.2(6).06

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