Accounting & Finance

All businesses need protection against cyber-attack. Accounting and financial advisory firms handle payroll data, tax returns, financial statements, banking credentials, and confidential business information for hundreds of clients every day. Client financial records, HMRC submissions, banking access, and business-critical data are prime targets for cyber criminals.

CyberSolver was created to provide simple low-cost solutions for accounting SMEs to protect their business and clients. Our six tailored solutions are designed to get businesses focused on what really matters. What do we offer specifically for SMEs in the accounting and finance sector?

The growing threat to accounting practice

Accounting services firms are increasingly reliant on digital platforms, cloud accounting software, practice management systems, e-signature tools, and remote access for accountants and support staff. These systems introduce new risks:

Business Email Compromise (BEC) - attackers impersonate accountants or clients to divert tax refunds, payroll payments, or client funds.
Phishing and social engineering - staff are targeted with urgent requests related to tax filing deadlines, payroll processing, and payment authorisations.
Compromised cloud accounting platforms - you may think cloud services eliminate responsibility for security but misconfigured systems can expose client financial data or allow unauthorised access.
Staff - accidental and in some cases malicious activity can result in a serious breach of client confidentiality and financial data.

Attackers know that accounting transactions involve direct access to client finances and HMRC systems. They exploit the urgency associated with tax deadlines and payroll cycles to commit fraud, steal credentials, or deploy ransomware. Even a single breach can lead to financial loss, reputational damage, professional indemnity claims, and regulatory scrutiny under GDPR, ICAEW and FCA requirements. While this may sound alarming, these types of attacks can be largely prevented through focused security controls.

Digging deeper into the problem for accounting services

According to recent industry data, 67% of UK accounting firms reported experiencing at least one cyber attack in the past year, with 40% facing multiple incidents. The likelihood of a critical attack is relatively low but the consequences can be devastating. Accounting firms are increasingly targeted by attackers using:

Spoofed email domains to redirect client payments or impersonate accountants and clients.
Compromised HMRC agent logins to divert tax refunds or access client tax information.
Poorly secured cloud accounting platforms used for bookkeeping and financial management.
Credential theft targeting access to banking platforms and payment systems.
Lack of staff training especially among bookkeepers and administrative staff.

The Information Commissioner's Office (ICO) has issued fines to accounting firms for failing to protect personal data, including client financial records, payroll information, and tax details. Meanwhile, the ICAEW Code of Ethics requires strict confidentiality as a fundamental principle, and professional indemnity insurers increasingly scrutinise cybersecurity controls.

What can you do?

Start with low-cost, high-impact actions

As a minimum, consider the following:

Train your staff - especially those handling client banking credentials, payroll processing, and HMRC submissions.
Enable multi-factor authentication (MFA) - on email, cloud accounting platforms, HMRC agent access, and practice management systems.
Review payment and submission processes - ensure there's a clear, secure method for verifying banking changes and confirming tax submissions.
Third-party access - check who has access to your systems and client data, and remove what's not essential.

If you're handling large volumes of clients or managing multiple offices, you should:

Harden your email systems - to prevent spoofing attacks targeting accountants and clients.
Create an incident response plan - include steps for business continuity, client notification, and ICO reporting.
Restrict access - review processes and access controls to ensure staff only access the client data they need.

If you've got the basics covered and want to go further, run a full risk assessment covering your systems, staff, and suppliers and implement simple processes to track cyber maturity and demonstrate compliance with ICAEW and professional body requirements.

CyberSolver's six solutions - which one is right for you?

While generalised recommendations are helpful, there's no substitute for focusing on your business, your priorities, and your specific risks. CyberSolver helps you take practical, affordable steps to protect your operations. Whether you're just starting or ready to invest, we offer six packaged solutions geared up to accounting services SMEs:

Use Risk Reduction when you don't know where to start. We'll identify your greatest risks and give you a prioritised, pragmatic plan of action.
Use Compliance when you need to meet GDPR, ICO expectations, ICAEW requirements, or professional body standards.
Use Staff Awareness to reduce human risk with training tailored to accountants, bookkeepers, and support staff.
Use Resilience to build your breach response capability and strengthen technical defences.
Use vCISO for low-cost executive and board-level strategy, prioritisation, and reporting.
Use the CyberSolver Toolkit for templates, playbooks, and repeatable operational artefacts.