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3 ways to protect your accounting clients’ data

CPACharge — Business Perspective

Hannah Bruno | August/September 2024 Footnote

The IRS has advised CPAs to review all aspects of their data security strategies, including administrative practices, building protection, computer security, staff and information systems. But does this mean you have to immediately become an internet security expert if you want to avoid becoming the next headline or cautionary tale? Absolutely not!

Protecting sensitive data can be simple for CPAs to do. The following steps will help ensure better data protection in your practice and are easy enough that any firm can implement them.

1. Identify your cyber assets

The path to a more secure firm starts with creating asimple document detailing your practice’s IT assets. List all the technology you use at your firm to the best of your knowledge, including:
  • Networking infrastructure.
  • Systems and other hardware.
  • Applications and data.
  • Users.

2. Strengthen your passwords

Office security, from network to personal computer, hinges on password strength. Enhance protection by using a password manager, which secures all passwords under one master passphrase. A passphrase is basically a stronger, more complicated password. Strong passphrases have the following characteristics:
  • Contain both upper and lowercase letters.
  • Have digits and punctuation symbols as well as letters.
  • Contain at least 12 or more letters, numbers or symbols.
  • Are not a word in any language, slang, dialect or jargon.
  • Are not based on any personal information.

3. Ensure data security and PCI compliance

Every business that accepts credit or debit card payments must be compliant with the Payment Card Industry Data Security Standard (PCI DSS). To become compliant, businesses must complete a Self-Assessment Questionnaire (SAQ) on an annual basis.

The SAQs are based on the 6 standard groups outlined by the PCI DSS (and their sub-requirements), which are:
  1. Build and maintain a secure network: Ensure that your systems have firewalls installed and are regularly updated.
  2. Protect cardholder data no matter what: The best online payment solutions will store and protect sensitive cardholder data for you.
  3. Maintain a vulnerability management program: This simply means using antivirus and anti-malware software and keeping it up to date.
  4. Implement strong access-control measures: This involves limiting access to sensitive cardholder data to only those who need it for business purposes.
  5. Regularly monitor and test networks: This involves documenting who can access what and making sure these practices are working correctly.
  6. Maintain an information security policy: Draft a security policy that outlines how your business uses technology and handles sensitive data.

Establish a reputation clients can trust

CPACharge is the preferred secure solution for CPAs. It offers end-to-end encryption, tokenization and multi-factor authentication to protect client data. By using CPACharge, you prioritize your clients’ confidentiality and demonstrate your firm’s commitment to security.

So why wait? Reach out for a demo today and take the first step toward building a reputation as a trusted, secure firm.

Hannah Bruno is a senior content writer at CPACharge. She is based in Austin, Texas.