Cybersecurity is Now Part of Your Job
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Cybersecurity used to be “an IT thing.” Not anymore. The PwC Digital Trust Insights Survey 2026 – South Africa makes it crystal clear that cyber threats are now front and centre in business strategy. And as financial stewards, risk managers, and compliance gatekeepers, accountants are increasingly in the firing line. Below we look at why cybersecurity matters to all of us, and how it’s reshaping the accounting profession.
Cyber Risk Is a Business and Financial Risk
The survey shows that 63% of South African executives now rank cyber risk in their top three strategic concerns, which is higher than the global average. This signals a fundamental shift in perception: cybersecurity is more than protecting data. It is about protecting business value.
Why this is important:
A ransomware attack can paralyse access to financial systems, delaying reporting, payroll, and tax submissions.
Breaches can lead to regulatory fines, insurance claims, litigation, and restatements of financial results.
Finance teams must now assess the financial impact of cyber risks and ensure resilience is built into core operations.
Your role as an accountant is to:
Help quantify cyber risk as part of enterprise risk management.
Ensure proper controls are in place around financial systems and reporting.
Support incident response plans from a financial continuity perspective.
Regulatory Pressure is Mounting
As data breaches rise, so does regulatory scrutiny. From POPIA to global equivalents like GDPR and the US CLOUD Act, compliance is no longer a legal checkbox, it’s a boardroom issue. The PwC survey highlights how AI and automation are increasingly used in compliance management, especially around identity management and data protection.
Why is this important?
Financial and personal data = high-value targets. Accountants are custodians of highly sensitive information, both financial (e.g. ledgers, tax filings, payroll) and personal (e.g. ID numbers, banking details, employee records). These data types are explicitly protected under laws like POPIA. When breaches or misuse occur, regulators don’t just blame IT, they investigate how the organisation managed and governed the data. The finance team is often at the centre of that, as they need to ensure that systems using AI must be auditable. Data accuracy, access logs, and process transparency are all crucial. Failure to comply can lead to severe financial penalties and reputational damage.
Your role as an accountant is to:
Assess and document how financial data is stored, protected, and processed.
Work with IT to ensure financial systems are POPIA-compliant.
Evaluate AI-driven tools from a control and audit perspective.
You’re Part of the Governance Team Now
According to the survey, South African CISOs (Chief Information Security Officers) engage more frequently with CEOs and boards than their global peers. The top boardroom topics include regulatory compliance, incident response, and infrastructure oversight.
But strong governance also depends on finance, audit, and compliance professionals.
Why this is important for you:
You already deal with risk and compliance, you’re perfectly placed to bridge the gap between cyber and finance.
Boards are looking for cross-functional input on cyber preparedness and accountants bring crucial insights on financial exposure and control assurance.
What you can do:
Join governance discussions on cyber risk strategy and incident planning.
Use your audit mindset to assess the strength of cyber-related controls.
Help set risk thresholds that are grounded in financial impact.
Cyber Threats Disrupt Financial Continuity
Attacks on systems, vendors, or cloud platforms can grind business to a halt. For finance teams, this means:
No access to ledgers
Inability to invoice or pay suppliers
Delayed financial close or compliance submissions
Yet the survey shows that only 6% of South African organisations feel “very capable” of handling supply chain cyber risk, one of the most common breach points.
Why this is important for you:
You are central to business continuity planning. If systems go down, you need to know how finance continues.
Financial dependencies on third-party systems (e.g., cloud accounting or payroll platforms) must be risk-assessed.
What you can do:
Identify critical finance systems and ensure contingency plans exist.
Evaluate third-party financial system vendors for cyber risk.
Build in manual backup processes where feasible.
AI Needs Guardrails
AI is being rapidly deployed in cybersecurity to close talent gaps. According to the survey, 72% of South African organisations use AI for functions like:
Cloud security
Identity and access management (IAM)
Data protection.
AI is also becoming more common in financial tools (e.g., automated reconciliations, predictive budgeting).
Why this is important for you:
While AI can improve efficiency, it can also introduce new risks, such as bias, fraud, data errors, and loss of control.
AI systems must be transparent, documented, and auditable.
What you can do:
Understand how AI is used in your financial systems.
Ensure there are controls over the inputs, outputs, and logic behind AI-driven processes.
Collaborate with IT to validate that AI doesn’t bypass key financial controls.
A Major Opportunity for Accountants in Practice
For accountants advising SMEs, this isn’t just a threat, it’s a chance to lead. The survey shows many organisations (especially smaller ones) are still underprepared. They need help navigating:
POPIA compliance
Cyber insurance forms
Vendor risk
Business continuity plans.
Why this matters:
Your clients trust you with their most sensitive data. They also trust your judgement on risk.
What you can do:
Offer cybersecurity readiness checklists.
Help clients prepare compliance documentation.
Position yourself as a governance partner, not just a tax advisor.
A Final Thought
Whether you’re in practice or commerce, you’re part of the cybersecurity equation. As businesses rethink how they manage digital risk, accountants must evolve too.
Cybersecurity is now about:
✅ Protecting business value
✅ Ensuring financial continuity
✅ Strengthening trust with clients and regulators
Don’t wait for an incident to force your hand get involved, stay informed, and lead with confidence.
