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Technology Touchstones for CPA Firms in 2020.

If hackers attack the CPA, then there's a lot of impact on the firm's data. On the other hand, it can also expose sensitive financial data of the client. 

According to Cybersecurity ventures, for every 11 seconds, there will be a ransomware attack on the businesses. It's time for the companies to monitor network activity, increase security, and be prepared with data recovery plans. 

Monitor Network Activity:

SEM tools help to analyze the data and to detect the network's unauthorized system changes. Effective monitoring actions include Identifying security gaps and Perform security audits.

  • Identify Security Gaps: To conduct a vulnerability assessment capture a third-party security firm. Before closing the gaps, find network weaknesses.
  • Perform Security Audits: Evaluate the strength of the system's environment, physical configuration, information handling processes, and software.

Increase Security:

Human errors lead to a security breach. When there's a careless user, the errors frequently occur, such as improper handling of data, fails to use strong passwords, and so on. The possible steps to overcome the errors are as follows:

  • Use strong passwords: Choose the complex and longest password on an application or website. Also, change the password often. Avoid the usage of the same password for several accounts.
  • Educate Users: Educate the clients on the characteristics of ransomware, malware, phishing, and other threats of Cybersecurity. The awareness training of document security includes concise emails.
  • Implement and use a secure portal: There will be no security of financial documents and sharing tax while sending email attachments. Also, there is an Encrypt transmission of data and secure portal control access between the clients and the firms.
  • Conduct phishing tests: The user must react and recognize a phishing email.

Data Recovery Plans:

Initially, create a map of storage locations and data sources then update the disaster recovery plan and a breach response plan. The outlines of the breach response plan will address the data security incident. It also identifies each member's roles and responsibilities of the specific steps for putting into action and recovering the compromised data. With the help of a mock scenario test, the recovery plan to gauge the effectiveness, investigation, containment, and communication.

The effective recovery plan makes sure the security breach of an event and business can restore the data by minimizing the impact on operations. The recovery of active disaster includes the following:

  • Determine the strategy of critical systems.
  • Perform backups to the server.
  • The client can restore the data and manage the backups.

Conclusion:

CPA firms should increase monitor network activity and existing security to get out of hackers. A security consultant and a hosting provider are valuable resources for long-term success. It's the responsibility of the firm to build a culture of awareness across the entire organization. 

Simandhar Education:

Simandhar is the official partner of Becker and AICPA - Largest Training provider for US CPA, US CMA , IFRS and EA courses in India with offices in Bangalore, Hyderabad, Delhi, Ahmedabad, Gurgaon, Kerala, Cochin (Kochi), Trivandrum, Kottayam, Kozhikode, Malappuram, Chennai, and Mumbai.

Learn how to use CPA, from First basics to advanced techniques, with online video tutorials taught by industry Experts. Simandhar Education is best leading CPA Exam in India. Contact [email protected] 919390785925.

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Author Bio:

Anji Velagana is the Content Strategist at Simandhar Education and has 2 years of experience in content writing and blogging. He loves pursuing excellence through writing and has a passion for technology & educational content. Contact him on LinkedIn.







 

 

Comments

  1. aishwarya anand solanki

    Informative! Thanks.

  2. Shipra

    interesting

  3. Ashutosh

    Interesting and unique topic of the blog. Nice insights

  4. GAURAV YADAV

    Thanks for the information.

  5. Daniel Arokia Benny

    lot of CPA firms are using machine learning or artificial intelligence for the MCQ stimulation and lot of technology is used in CPR training is very handy for the CPA trainers

  6. Aakanksha

    Thanks for the information!!

  7. Swadesh Semwal

    Thanks for the information. Privacy and security are very important in the digitized world.

  8. Anju Rathore

    Great article

  9. GAURAV YADAV

    Impressive?Thanks for the post

  10. Shubham Manapure

    Very informative blog.

  11. Anisha

    Great article.

  12. suma

    Great Blog, Thanks for Sharing......

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