5 Best Practices for Protecting CPA Firm’s Data in OKC

5 Best Practices for Protecting CPA Firm’s Data in OKC

As a senior partner or top executive in an Oklahoma City CPA firm, you know your data is your organization’s lifeblood. It must be protected at all costs.5-Best-Practices-for-Protecting-CPA-Firms-Data-in-OKC

Protecting CPA firm’s data saves you thousands in potential litigation costs, government fines, and other penalties. And let’s not forget the PR nightmare it saves you from or the damage to your credibility — all of which could cost you clients.

But safeguarding data goes well beyond erecting a firewall, updating antivirus software, and backing up. In fact, savvy CPA firms work diligently to protect their data continuously.

What You Can Do Now

It’s likely that you already have a data security policy in place. If you don’t, you need to create one as soon as possible.  Then consider the following five best practices smart CPA firms are using right now that you can implement in your firm.

  1. Assess your environment regularly. Meet regularly with your technology provider to review all the IT risks your firm may be exposed to and stick to the schedule. Also, review regularly the adequacy of all monitoring-related equipment and activities. Test everything.
  1. Educate your employees. Start a program designed to keep your employees abreast of all new and existing security measures. Use the program to boost employee’s security awareness as well. Also, make sure they know what to do in case of a security breach.
  1. Create an incident response plan. Create a plan and a team empowered to respond quickly in case of a breach. Authorize the team to take all the steps necessary to contain, mitigate, or resolve security incidents. In addition, make it the team’s responsibility to stay alert to the latest security advisories.
  1. Address the BYOD issue. The use of personal devices is perhaps your biggest security vulnerability. Devices with sensitive data can get lost or stolen. Implement a stringent BYOD policy if you don’t have one. If you do, make sure your employees follow it religiously.
  1. Reinforce data encryption. Make sure your data is encrypted while stationary AND in motion. Also consider advanced protection like whole-disk encryption. In addition, consider installing data loss prevention technologies and creating rules that prevent files with social security numbers from being sent outside the firm.

Bottom Line

Protecting CPA firm’s data is a challenge. But it’s something that you don’t want to avoid. Make sure everyone takes security seriously, all the proper safeguards are in place, and your firm is staying abreast of the latest advancements in security.

Doing so prevents thousands in litigation, fines, and penalties. It also prevents a public relations nightmare that can cost you credibility and dozens of clients. This is a critical responsibly every senior partner or top executive must accept and execute. Don’t neglect it!

 

What measures are you taking in your CPA firm to make sure your data is secure?  Tell us about it in the Comments section below.

 

And to follow up on the tips introduced in this article, be sure to download your free Information Technology Guide for Oklahoma City CPAs.

 

 


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