Challenges of Cloud Accounting Systems Landscape within the Context of Cybersecurity Paradigm

Introduction: The evolution of cloud-based systems of accounting and the regulatory backing for them between 2020 and 2024 are examined in this article Objective: Identifying the current challenges experienced by corporate sector in cloud accounting systems operation, in particular in the landscape of the effects of cybersecurity tactics and legal requirements is the goal of this study. Methods: Based on the methodology of comparative analysis and synthesis, with an emphasis on data security and risk management, the contemporary cybersecurity challenges of cloud-based accounting practices and the features of appropriate regulatory requirements landscape are examined. Results: The authors emphasize the difficulties posed by rising cyberthreats in the context of the expanding use of cloud-based systems for processing financial data. The primary multi-factor authentication and data encryption-based cybersecurity tactics are described. The essay examines how, in light of rising transaction volumes and cyberthreats, industrialized nations are strengthening their cybersecurity and financial regulation standards. The market for cloud accounting systems is expected to grow in the following five years in the following primary directions. The paper focuses in particular on how government organizations are involved in creating regulations for cloud accounting systems. Consideration is given to the tactics of the of imposing technology standards on cloud providers in order to guarantee market stability and security.