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Corporate Governance in the Era of IT Transformation: Managing Financial and Cyber Risks

Chief Editors:  Mr. Irshadullah Asim Mohammed, Dr. Yogesh Mohan Gosavi, and Prof. (Dr.) Vineeta Kaur Saluja

Associate Editor: Mrs. Sruthi S

Co-Editors: Dr. S. Rajeswari, Dr. Nikhil Saini, and Ms. Atreyee Banerjee

ISBN:  978-81-985805-1-1

Chapter: 34

Author: Dr. Sanjay Prasad

DOI: https://doi.org/10.59646/mrnc34/321

Abstract

In the modern business landscape, corporate governance has evolved significantly due to rapid IT transformation. Organizations now face complex challenges related to financial risks and cybersecurity threats, necessitating a governance framework that integrates technological resilience, regulatory compliance, and strategic risk management. Traditional governance models, which primarily focused on financial oversight and ethical conduct, must now incorporate digital risk management to ensure business continuity and stakeholder confidence. This paper explores how corporate governance frameworks are adapting to the increased reliance on digital technologies, artificial intelligence (AI), blockchain, and cloud computing. It highlights the importance of board-level cybersecurity awareness, regulatory adherence, risk assessment methodologies, and data protection mechanisms in mitigating financial fraud, cyber breaches, and operational disruptions. Furthermore, the role of chief information security officers (CISOs), risk committees, and IT governance policies in maintaining an organization’s financial stability is examined.

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