Cybersecurity for Accounting Practices: Implementing and Monitoring an Effective Data Security Plan

The nature of data handled by accounting and tax practices makes these firms more susceptible to cybercrime. Ransomware, phishing, identity theft, and malware attacks are a few examples of how these firms are targeted. The dangers of an attack include a significant loss of income and time, but perhaps as damaging is the loss of customer trust.

Establishing an effective security plan is not only prudent, it is required by the Federal Trade Commission (FTC) and, for firms preparing tax returns, by the IRS. Resources are available to guide professionals through a risk assessment and implementation of a data security plan. Tax and accounting firms must implement an effective data security plan and monitor the system year-round.

Listen as our panel of data security professionals discusses the threats accounting firms encounter and the steps they should take to stay compliant and protect their firms.

I.                   Cybersecurity in an accounting practice: introduction

II.                 Threats

A.    Internal

B.    External

III.               Data security requirements

A.    IRS

B.    FTC

IV.              Risk assessment

V.                Implementing a data security plan

VI.              Educating employees

VII.            Communication protocols

VIII.          Resources

IX.              Handling a data breach

The panel will cover these and other critical issues:

• Cyber threats that target accounting and tax practices
• IRS data security plan requirements
• Performing a data security risk assessment
• Implementing and monitoring a data security plan

Learning Objectives

After completing this course, you will be able to:

• Identify cyberattacks encountered by accounting firms
• Determine how to structure and implement an effective data security plan
• Ascertain how to handle a data breach
• Decide what components of a data security plan are required by the FTC and IRS

• Field of Study: Accounting
• Level of Knowledge: Intermediate
• Advance Preparation: None
• Teaching Method: Seminar/Lecture
• Delivery Method: Group-Internet (via computer)
• Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
• Prerequisite:

  Three years+ business or public firm experience, preparing reviewed, compiled, and audited financial statements and the relative disclosures. Specific knowledge and understanding of GAAP, SSARS, and peer review policies.

  
  

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.