Why Cybersecurity Matters to CPAs WEBINAR

Overview

CPAs are responsible for understanding (1) the presence of fraudulent activity, (2) that financial reports are complete and accurate, and (3) applying the going concern principle to a business. Appropriate cybersecurity controls, processes and oversight directly impact these three areas. Bad actors are stealing data, intellectual property, financial assets, and other information. Digital fraud is becoming more prevalent and can be substantially more damaging than historical types of fraud. Not only can digital fraud result in financial loss, but it can subject companies to expensive lawsuits, damage reputations and can even put a company out of business. Having cybersecurity controls on systems and networks is critical to ensure information reported in financial statements is complete and accurate. It is important for CPAs to understand the required cybersecurity controls to prevent or detect inaccurate data in financial reports. With an increasing volume of system hacks, it is no longer IF you’re going to get hacked, it is WHEN. If organizations do not have appropriate cybersecurity controls in place to protect against an attack, then a malicious hack can put them out of business. An organization’s cybersecurity posture should be a factor in evaluating the principle of going concern.

Highlights

Recent cybersecurity attacks, their implications, and how weak cybersecurity controls enabled their success. Specific cybersecurity controls that help prevent fraud and support data integrity of financial reports. How an effective cybersecurity program is needed to reduce losses, prevent fraud, avoid reputational damage, and protect critical data assets

Prerequisites

General understanding of data integrity as it relates to financial reports.

Designed For

Anyone who wants to understand how to prevent cybersecurity fraud, maintain data integrity of financial reports, and ensure data is protected and secure.

Objectives

Understand how weak cybersecurity controls enable fraud. Understand cybersecurity methodology for ensuring data integrity of financial reports. Understand how an effective cybersecurity program impacts the principle of going concern.

Preparation

None.

Notice

None.