Boosting Cybersecurity Initiatives to Promote Safe and Secure Accounting in Thailand

BANGKOK - Dec. 9, 2021 - PRLog -- Reliance Consulting, a top-notch accounting firm in Thailand, expounds on the challenges posed by cybersecurity and the actions the experts are taking to overcome them.

With the growing demand to shift accounting services digitally, accounting firms face complex cybersecurity problems.

As intraregional trade continues to prosper, the risk of cyberattacks continues to increase. This, in turn, can affect public health, economic recovery, safety, and even national security. Therefore, both policymakers and private sectors need to work together to raise awareness on cybersecurity and adopt an active defence approach against the potential challenges it may present in the future.

One of the ways to combat possible obstacles is to elevate cybersecurity measures to regional policies. "Close coordination between regional policy makers and accounting experts need to happen for this to work. Both parties need to establish a Rapid Action Cybersecurity Framework that focuses on addressing the current weaknesses in cybersecurity. This framework envisions up to 12 strategic imperatives, all aimed at securing the basics of cybersecurity across the region," explained Mr Hans Teo Han Siang, Director of Reliance Consulting.

He further added, saying, "Among other things, the 12 imperatives include establishing a national-level team to push the cybersecurity agenda forward, developing a coherent strategy, creating a law to address cybercrime, raising community awareness, and addressing skill gaps. Before expanding cybersecurity measures to a regional level, these steps must be accomplished on a national level first."

However, it will be difficult to execute these plans without a proper metric. That's why defining the criteria for cybersecurity performance is necessary to make progress.

According to Mr Hans, "Identifying the metrics allows for full transparency between all involved parties. From collecting data to measuring performance and sharing intelligence, having a structured mechanism can help bring focus to areas of cybersecurity that need the most attention."

The established metrics should focus on the following functions: incident management, vulnerability management, application security, configuration, and corporate spending.

More specifically, these metrics should answer the following questions:

• How well does cybersecurity detect, identify, and recover from incidents?
• How does it manage the company's exposure to potential vulnerabilities?
• When applied to business applications, is it secure?
• How much does a company need to spend on information security?

With these questions in mind, corporations can have an active defence mindset to raise awareness in cybersecurity and implement best practices. But, to strengthen the overall accounting Bangkok ecosystem, one needs to foster a risk-centric approach, instil a culture of transparency, and forge private-public alliances. Only then can cybersecurity measures overcome challenges and promote a safe accounting environment in Thailand.

Reliance Consulting (https://www.relianceconsulting.co.th/) is one of the leading accounting Thailand-based companies offering innovative accounting solutions to protect data and safeguard financial prosperity for corporations across industries.