Increased Use of Data Security in Accounting

This thesis aims to instigate and analyze the growing significance and scope of data security in the area of accounting due to the increase in financial transactions so that appropriate protective measures can be taken. In this modern era, the reach and level of technology have increased to a new high, thus creating an increased reliance on digital technologies for our day-to-day activities. Due to this increased reliance on digital technologies for generating, transferring, transmitting, and storing huge amounts of sensitive financial data, the risk of breach of data is significantly increasing day by day. These cyber-threats pose a major point of concern for organizations to secure their financial data. The following research-based study emphasizes the current methods used for data security, the current situation of data security in accounting and finance, along with the formulation and proposal of strategies to overcome the problem of manipulation, illegal access to financial data, and theft of data after the identification of the challenges faced by the organization in the process of protecting sensitive financial data information.