Quantum Computing and Cybersecurity in Accounting and Finance: Current and Future Challenges and the Opportunities for Securing Accounting and Finance Systems in the Post-Quantum World

TL;DR

Quantum computing offers transformative opportunities for accounting cybersecurity by enabling quantum-resistant encryption and QKD, but also introduces new vulnerabilities requiring advanced cryptographic solutions for future financial system security.

Contribution

This paper systematically reviews how quantum technologies can enhance accounting cybersecurity, emphasizing quantum-resistant algorithms and QKD as essential for future security.

Findings

Quantum computing improves encryption beyond classical methods.

Quantum technologies can reduce data breaches in accounting.

Quantum-resistant cryptography is vital for future financial security.

Abstract

Quantum computing is transforming the world profoundly, affecting businesses, organisations, technologies, and human beings' information systems, and will have a profound impact on accounting and finance, particularly in the realm of cybersecurity. It presents both opportunities and risks in ensuring confidentiality and protecting financial data. The purpose of this article is to show the application of quantum technologies in accounting cybersecurity, utilising quantum algorithms and QKD to overcome the limitations of classical computing. The literature review reveals the vulnerabilities of the current accounting cybersecurity to quantum attacks and the need for quantum-resistant cryptographic mechanisms. It elaborates on the risks associated with conventional encryption in the context of quantum capabilities. This study contributes to the understanding of how quantum computing can transform accounting cybersecurity by enhancing quantum-resistant algorithms and using QKD in accounting. The study employs PSALSAR systematic review methodology to ensure rigour and depth. The analysis shows that quantum computing enhances encryption techniques to superior possibilities than classical ones. Using quantum technologies in accounting minimises data breaches and unauthorised access. The study concludes that quantum-resistant algorithms and quantum key distribution (QKD) are necessary for securing the accounting and finance systems of the future. Keywords Quantum Computing, Cybersecurity, Accounting, Machine Learning, Artificial Intelligence, Quantum Key Distribution, Operations Management