Proposed Changes to Privacy, Security Guidance Available


The AICPA released two proposals that would alter guidance for CPAs providing attestation services, advisory services or both that address IT-enabled systems including electronic commerce systems and privacy programs.

           

The guidance relates to providing services with respect to system security, availability, processing integrity, confidentiality and privacy.

           

The AICPA and the Canadian Institute of Chartered Accountants (CICA) are seeking feedback on an exposure draft that proposes changes to their privacy framework. The AICPA/CICA Generally Accepted Privacy Principles are designed to facilitate privacy compliance and effective privacy management.  

           

Comments on the proposal are due June 1.

           

The AICPA Trust Services/Data Integrity Task Force is seeking feedback on an exposure draft that proposes changes to certain other aspects of the Trust Services Principles and Criteria (TSPC). The proposal involves principles used to evaluate whether IT-enabled systems are reliable.

       

Comments on the proposal are due April 8.

 

Where to find January’s flipbook issue

Starting this month, all Association magazines — the Journal of Accountancy, The Tax Adviser, and FM magazine (coming in February) — are completely digital. Read more about the change and get tips on how to access the new flipbook digital issues.

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Get your clients ready for tax season

Upon its enactment in March, the American Rescue Plan Act (ARPA) introduced many new tax changes, some of which retroactively affected 2020 returns. Making the right moves now can help you mitigate any surprises heading into 2022.