Network security brings greater risk. Are you ready?
As if CPAs didn't have enough to worry about.
Managing all of the technical, financial, staffing, environmental and disaster-related risks that come with running a CPA firm or finance department just doesn't cut it anymore. Today's CPAs also have to worry about:
- Network security: The risk is that your network infects a client's with a virus or is used by a hacker to gain unauthorized access to someone else's network. "If you failed to prevent the use of your network in this type of attack, the victims can sue you since the use of your network contributed to their loss," says Mark Silvestri of CNA, the underwriter of the AICPA's Professional Liability Insurance Program, which is provided by Aon Insurance Services and Willis HRH.
- Privacy: Specifically, how well are you protecting the sensitive information that your client has entrusted to you? And it doesn't matter if that data is online or offline; you're equally responsible. And it's a growing problem. According to Silvestri, the number of reported privacy breaches rose from 40 in the second quarter of 2005 to 932 in April 2008. The number of records compromised in that time jumped from 9.6 million to 315 million.
That's the bad news. The good news is you now know the risks and can get coverage to manage it.
So don't worry, plan and protect instead. Silvestri offers further details in this MACPA podcast.
- Subscribe to our podcast here, or search for "CPA Spotlight" in iTunes.
The MACPA and G1440 also offer members a Web security product that can help you secure your Web site easily, without being costly. Get complete details here.