Digitization of Accounting and Cyber Protection of ESG Data for Sustainable Development of Enterprises

Abstract

The article examines the integration of digital accounting and cyber protection of ESG data as an important mechanism for ensuring sustainable development of enterprises. It is noted that modern digital accounting and analytics systems are no longer just a tool for financial control but are becoming a strategic resource that increases transparency, management efficiency, and investment attractiveness of companies. At the same time, digital platforms and automated accounting systems create new cyber risks that can threaten the integrity, reliability, and timeliness of ESG information, making data protection a critical issue for modern businesses. An analysis of current scientific approaches to the digitalization of accounting, ESG reporting, and cybersecurity has been conducted, and the key problems of Ukrainian enterprises have been identified: insufficient staff training, limited technological resources, the complexity of integrating international standards, and a low level of management awareness. A classification of the main groups of ESG data cyber risks (technical, organizational, regulatory, human, process, and technological) and methods for minimizing them are proposed, allowing the enterprise to systematically respond to threats and ensure the reliability of information. An author's model for integrating cybersecurity into the ESG accounting system has been developed, demonstrating a logical chain from the digitization of accounting to management decision-making and the achievement of sustainable development of the enterprise. It has been shown that the use of ESG data security assessment indicators allows for monitoring the level of security and promptly identifying weaknesses in the system, which contributes to increasing the trust of stakeholders and investors. A review of Ukrainian companies' practices confirms that the use of digital solutions, ERP systems, and cloud platforms contributes to a more effective integration of ESG principles into business processes, but the implementation of such practices is accompanied by difficulties related to personnel, technological, and regulatory constraints. The most important conclusion is that a comprehensive approach to the digitalization of accounting and cyber protection of ESG data is a prerequisite for ensuring sustainable development, competitiveness, and investment attractiveness of enterprises. Further research should focus on assessing the impact of transparent ESG reporting on the effectiveness of management decisions and strategic performance of companies, as well as on adapting international practices to Ukrainian conditions.