Date of Graduation

5-2021

Document Type

Thesis

Degree Name

Bachelor of Science in Business Administration

Degree Level

Undergraduate

Department

Accounting

Advisor/Mentor

Allee, Kris

Abstract

The advancement of technology has brought many changes to accounting firms. Computer applications such as Microsoft Excel have made calculators and physical spreadsheets obsolete. Then with the introduction of cloud computing employees can store, access, and exchange large amounts of data instantaneously from any location. These technological innovations have increased the accuracy and efficiency of firms substantially. However, this growth in technology has shown the importance of putting an emphasis on cybersecurity throughout the accounting industry. The emphasis placed on cybersecurity throughout accounting firms is more prevalent than any other industry. This is primarily because accounting firms not only deal with large amounts of internal financial data, but also other companies’ financial data for audit and tax purposes. This paper begins by showing the biggest and most common cybersecurity threats firms face today. It then outlines the steps firms can put in place to minimize the risk of falling victim to these threats. Moreover, it will compare the challenges of maintaining sufficient cybersecurity between large and small accounting firms and provide examples of different repercussions firms faced after experiencing a breach in their cybersecurity. Finally, it will highlight the new regulations and guidelines established in order to strengthen a firm’s cybersecurity throughout the accounting field.

Keywords

Technology, spreadsheets, cybersecurity, cloud computing, exchange of data

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