The FTC Safeguards Rule moved into the "penalty phase" on June 9, 2023. Under the rule, tax preparers and firms providing services of a financial nature to clients must implement security plans to protect client data. Failure to do so may result in an FTC investigation including possible stiff penalties. Combatting today's cybercriminals takes knowledge, good technology, and training for staff, because data thefts at tax professionals' offices are on the rise. The requirements are outlined in various publications, including IRS Publication 4557. Any professional who holds a PTIN falls under the Pub 4557 requirements. The best way for firms to demonstrate compliance with both IRS Pub 4557 and the FTC Safeguards Rule is with a Written Information Security Plan (WISP). In this 2.5 CPE Master Class, participants receive expert-led instruction plus over 20 downloadable and editable templates, policies, and guidelines designed to help them quickly create and roll out their WISP. Wading through the relevant IRS Publications and FTC rulings can be challenging and most courses only explain what you need to do, leaving you to figure out how. This class is DIFFERENT. Expert instruction by: Randy Johnston, CPA, K2 Enterprises Dawn Brolin, CPA, CFE, Powerful Accounting, Inc Steve Perkins, CIO, HoganTaylor LLP Andrew Lassise, CEO, Tech4Accountants This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
After completing this Master Class you will be able to...
- Use examples of basic security steps and determine how to take them.
- Identify the signs of data theft and how to report data theft.
- Distinguish the key steps firms of all sizes need to take to complete and roll out their WISP.
- Leverage templates, policies and guidelines to actually complete the firm's WISP.
Major Topics
The major topics that will be covered in this Master Class include:
- Learning HOW to create and roll out your firm's Written Information Security Plan (WISP).
- Understanding the best methods to get clients to follow your security protocols.
- Expert recommendations about which specific security solutions are best suited for your firm size.
- Access to a comprehensive library of downloadable policies, checklists, and templates to tailor and use in your WISP.
