IT Consulting for CPA and Accounting Firms

IT Consulting for CPA and Accounting Firms

In the fast-paced world of finance, CPA and accounting firms face unique challenges. The need to stay ahead of technological trends is paramount. Properly implemented and managed technology can be a game-changer for CPA and accounting firms, but some financial professionals have been forced to struggle with IT providers that treat them like any other office. This leads to some frustrating results, often leaving the accounting firm in the dark, with technology solutions that don’t quite fit.

My Business Insurance Provider is Asking About My Cybersecurity. What Should I Do?

Security, Compliance, Small Business

As a business owner, you know the importance of protecting your company from potential risks and liabilities. That’s why you have business insurance to safeguard your assets and mitigate potential losses. But what happens when your insurance provider starts asking about your cybersecurity measures? In today’s digital age, cyberthreats are a growing concern for businesses of all sizes. According to a report by the Ponemon Institute, the average cost of a data breach for a company is $3.86 million. This is why insurance companies are now taking a closer look at a business’ cybersecurity measures before providing coverage. In this article, we’ll explore why your insurance provider is asking about your cybersecurity and what you can do to ensure you have the necessary measures in place.

What You Need to Do to Qualify for Cyber Insurance

Data loss has a severely damaging impact on the businesses that suffer from it, so why not help protect your business the same way you would with other damages? Cyber insurance helps do just that, and is therefore a super helpful investment for today’s businesses to embrace. That said, just like other forms of insurance, there are certain requirements that must be met for a business to qualify. Let’s touch on some common requirements insurance providers have.

Knowing, and Planning For, Your Organization’s Compliance Burden

Despite what detractors say, regulations are in place for good reason. They typically protect individuals from organizational malfeasance. Many of these regulations are actual laws passed by a governing body and cover the entire spectrum of the issue, not just the data involved. The ones that have data protection regulations written into them mostly deal with the handling and protection of sensitive information. For organizations that work in industries covered by these regulations there are very visible costs that go into compliance. Today, we look at the costs incurred by these organizations as a result of these regulations, and how to ascertain how they affect your business.