Many small to medium sized companies now outsource business processes in areas such as payroll collection or financial reporting. This involves sharing data across a variety of electronic platforms thereby making themselves vulnerable to cyber-attack. This course uses extensive examples to highlight the effects of cyber security breaches and strategies to mitigate these risks.
Course ID: CYBERCPA
Outsourcing & Cybersecurity: What CPAs Need to Know
- Participants will:
- Identify the risks that outsourcing business processes brings to your company or clients
- Become familiar with the assurance services that reduce these risks
- Study cases involving data breaches and their effects on the company’s controls and information systems
- Recognize the accounting and audit standards which address data controls and breaches
- Become aware of practical strategies to mitigate vulnerability
- Gain insights into the responsibilities of service providers, external and internal accountants and audit committees in addressing cyber security risk
- Data security & breaches – lessons of experience
- What is cyber risk and how could it hit our company
- A risk based approach to outsourcing business processes
- Accounting standards for reporting and disclosing breaches
- Audit and assurance issues, SOC reports
- What is a cyber-security audit?
- Cyber security insurance – who needs it?
- Audit Committee responsibilities