Cybersecurity: its role in tax, audit and consultancy

Cybersecurity is the application of Technologies, Processes and Controls to protect systems, networks, programs, devices and data from cyber-attacks. It aims to reduce the risk of cyber threats and cyber-attacks and protect against the unauthorized exploitation of systems, networks and technologies.

While cyberattacks pose a threat to most organizations, they are becoming more of an issue for Auditors/Accountants as a result of the vast volumes of sensitive client data and classified information that their systems store. These typically consist of financial records, tax identification numbers, bank account information, payroll information, investments data, future plans, and intellectual property. Any cybercriminal will be very motivated to access this important information.

 Additionally, Auditing/Tax firms must be equipped to handle cybersecurity concerns and disruptive innovation.

Firms Must Meet the Following Security Standards:

Avoid legal ramifications

Prevent financial loss

Prevent data loss from insiders

Avoid losing your clients’ financial information

Wrapping Up

As can be seen, using cybersecurity in the accounting/Tax field has numerous benefits. Online cyber security training is a fantastic way to educate users on the benefits of using it. Cybersecurity adds to the long-term value of your brand. It safeguards against any kind of data breach or theft. It will also assist them in gaining the trust of their customers and expanding.