Privacy


The Federal Trade Commission (FTC) issued as final a rule that, as of June 1, 2005, requires businesses and individuals to judiciously dispose of sensitive information from consumer reports ( www.ftc.gov/opa/2005/06/disposal.htm ; www.ftc.gov/os/2004/11/041118disposalfrn.pdf ). The standard, known as the Disposal Rule, is part of the Fair and Accurate Credit Transactions Act of 2003. Members in public practice and industry should inform their clients and employers of the rule’s provisions, which permit affected organizations and individuals to identify disposal measures that correspond to the sensitivity of the information, the costs and benefits of various disposal methods and changes in related technology. Financial institutions subject to the Disposal Rule and the Gramm-Leach-Bliley Safeguards Rule, which requires institutions to protect sensitive customer information, should add related practices to the information security program the Safeguards Rule requires them to establish ( www.ftc.gov/privacy/privacyinitiatives/safeguards.html ).

SPONSORED REPORT

Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

CHECKLIST

Being responsive to clients

CPAs and their firms have daily pressures and hectic schedules, but being responsive is crucial to client satisfaction. Leaders in the profession offer advice for CPA firms that want to be responsive to clients.

QUIZ

Test yourself on these often confused words

The spelling checker on your word processing program can do only so much to flag problems. Your best insurance is to learn the troublesome words that trip up writers and use them correctly by the standards of formal, written English.