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
DESIGNED FORAccountants who are involved in decisions to outsource business processes. External accountants who audit or review financial statements where outsourcing of business processes takes pace. Accountants who need to advise their clients or companies on making sound outsourcing decisions
FIELD OF STUDY