INNOVATIVE APPROACHES TO FINANCIAL RISK MITIGATION: INSIG HTS FOR DIGITAL BUSINESS AND ACCOUNTING SYSTEMS

Abstract

This article proposes innovative approaches to reducing financial risks adapted to digital business and accounting systems. The study analyzes the interaction between the implementation of digital business and financial risk in modern accounting systems and demonstrates how factors such as digital adaptation, efficiency of accounting systems, innovation and market volatility affect financial stability. Using both quantitative and qualitative approaches, the study found that a higher level of digital business adoption is associated with less financial risk. On the one hand, innovation opens up new opportunities for growth, on the other hand, it carries new risks that need to be managed effectively. The article shows that in accounting, modern systems based on artificial intelligence and automation play a decisive role in the accuracy of financial statements and risk management. The authors offer a strategic, technological, and accounting perspective on financial risk management. The article presents a model that can help organizations manage financial risks more effectively in the context of the digital environment, using flexibility and sustainable innovation in management. This research contributes to the field of financial risk management by providing useful strategies that can be implemented by organizations operating in the digital era.