Cybersecurity in the Digital Era: Implications for Financial Reporting and Audit

Abstract

This article examines cybersecurity as an emerging risk in financial reporting and financial audit, within a context shaped by the accelerated digitalisation of accounting systems and the increasing frequency of cyber incidents. The research adopts an integrated approach, combining theoretical analysis, bibliometric analysis, and an empirical investigation based on data concerning cybersecurity incidents. The objective of this research is to highlight the ways in which the digitalisation of financial reporting enhances the efficiency and quality of information, while simultaneously generating vulnerabilities that may affect the integrity and reliability of financial statements. The bibliometric analysis, conducted on a sample of 1,534 articles indexed in Web of Science (2015–2025), shows the consolidation of cybersecurity as an interdisciplinary field situated at the intersection of technology, governance, and audit. The empirical component uses data provided by Audit Analytics for 994 listed US companies over the period 2004–2025. The results indicate a concentration of attacks in economically and technologically developed regions, with personal and financial information as the main targets, and unauthorised access as the dominant attack method. The study confirms that cyber risks influence audit risk assessment, prompting auditors to intensify and diversify procedures to ensure the quality of financial information.