With 2012 just around the corner, the JofA gathered the three technology keynote speakers from the AICPA’s 2011 Practitioners Symposium/TECH+ Conference to talk about tech trends heading into the new year. The nearly 90-minute conversation covered a wide range of technical issues critical to all CPAs. Participating in the call
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TOPICS / TECHNOLOGY
Information security & privacy
Cloud Computing
With 2012 just around the corner, the JofA gathered the three technology keynote speakers from the AICPA’s 2011 Practitioners Symposium/TECH+ Conference to talk about tech trends heading into the new year. The nearly 90-minute conversation covered a wide range of technical issues critical to all CPAs. Participating in the call
TIGTA Finds Problems With IRS Purchase Cards, Network Security
The Treasury Inspector General for Tax Administration (TIGTA) released a pair of reports on Tuesday finding problems with the security of the IRS Windows environment and a lack of control over IRS purchase cards (TIGTA Reports 2011-20-111 and 2011-10-075, respectively). Purchase Cards In Report 2011-10-075, TIGTA states that between Sept.
Drive-By Virus
Q: While one of my employees was surfing the Internet, a browser window unexpectedly popped up, warning that his computer was infected with a virus. A few seconds later, the browser started scanning his hard drive and downloading files. Each time he closed the browser window, another browser window opened
GAPP Targets Privacy Risks
As of early 2011, 46 states had enacted some form of privacy regulation. In particular, those enacted by Massachusetts and Nevada in 2010 significantly raised the bar in terms of business requirements. Even organizations that have no facilities or personnel in Massachusetts may be subject to the state’s regulations if
AICPA Calls for Safeguards for Electronic Data Provided for IRS Exams
The AICPA called on the IRS to start a dialogue to fix what it views as an important problem for some small businesses under audit examination: providing electronic records to the IRS while protecting confidential information that is not relevant to the IRS’ request. The IRS maintains that the
Mobile Devices Top CPAs’ Tech Survey Rankings
CPAs and financial executives for the first time rated the proliferation of smartphones, tablet computers and mobile devices in the workplace as their top business technology concern, according to the AICPA’s 2011 Top Technology Initiatives Survey. Mobile devices edged out information security, which had topped the list of tech concerns
Vetting a Vendor: Questions to Ask Before Making an Investment
Editor’s note: Also read “Cloud Computing: What Accountants Need to Know” in the October 2010 issue of the JofA. Ample research must be done before selecting any vendor, but specific areas should be addressed when choosing to move your data to the cloud. The following are some questions to
Cloud Computing: What Accountants Need to Know
There’s no arguing that “cloud computing” is gaining a great deal of momentum. Worldwide, cloud services revenue is forecast to reach $68.3 billion in 2010, a 16.6% increase from 2009 revenue of $58.6 billion, according to analyst firm Gartner Inc. So what does this mean to the accounting profession? What
Guard Against Cybertheft
A type of fraud has come into the public eye in the past year in which the criminal surreptitiously obtains financial banking credentials, hijacks a corporate computer, and steals money from the victim’s bank accounts. In this scenario, referred to as a fraudulent electronic funds transfer (EFT) transaction, a cybercriminal
Data Security Remains Top Concern for CPAs, Survey Shows
Data security will remain the most pressing concern for CPAs and their clients over the next 12 to 18 months, according to the AICPA’s 21st annual Top Technology Initiatives Survey, which was unveiled this week. This is the eighth consecutive year the issue has made the top of the list.
Fortify Your Facebook Privacy Settings
Thousands of CPAs and many state CPA societies are using Facebook to help establish and maintain relationships. A search for “CPA” on Facebook yields more than 31,000 results. As more CPAs continue to embrace this venue, privacy concerns are on the rise. As a CPA, I use Facebook both professionally
Firm Up Your Data Security
Given the many threats organizations face in protecting critical information and processes, an information security policy is arguably one of the most important documents an organization can create. Consider these best practices for creating a new security policy and keeping an existing policy up to date. —By Ron Box, CPA/CITP/CFF,
Client Portals: A Secure Alternative to E-Mail
Federal and state laws continue to get stricter about maintaining the security of clients’ Social Security numbers. Accountants in Massachusetts and Nevada are required to encrypt e-mails that contain clients’ personally identifiable information, and several states have similar legislation pending. Client portals—secure online storage areas—offer an alternative to e-mail for
Guidelines Aimed at Thwarting ID Theft, Security Breaches Unveiled
Responding to concerns about identity theft and security breaches linked to portable devices, the AICPA and the Canadian Institute of Chartered Accountants have expanded Generally Accepted Privacy Principles to include protocols for securing personal information. The AICPA/CICA Generally Accepted Privacy Principles are recognized by the IRS and other organizations. The
Protect Your E-Mailing and Internet Surfing When You Travel
Q My tech-savvy friends warn me about computer-privacy risks when I travel. They say that checking my e-mail while in a Wi-Fi-equipped coffeehouse or an airport is practically an invitation for an unscrupulous person to monitor my messages and even steal my data. Are there any practical ways to protect
IRS Pilot Program Will Allow Truncated Social Security Numbers on Information Returns
The IRS on Thursday announced a pilot program aimed at deterring identity theft (Notice 2009-93). Under the program, filers of certain paper information returns will be allowed to truncate the payee’s Social Security number on the payee statement. The change affects statements for 2009 and 2010. Only paper payee statements
AICPA Files Suit Challenging Identity Theft Rule
The AICPA filed a lawsuit on Tuesday seeking to bar the Federal Trade Commission from applying its so-called Red Flags Rule to CPAs. The Institute says the rule, which is designed to help prevent identity theft, would “impose onerous and unnecessary requirements on AICPA members.” The lawsuit, filed in U.S.
Disclosure Consent Under § 7216
IRS rules effective Jan. 1, 2009, delineate more strictly tax return preparers’ duties to safeguard taxpayer information from unauthorized disclosure or use. IRC § 7216 imposes criminal penalties on the unauthorized use of taxpayer information. The requirements are closely tailored to the type of information, the party using it, and
AICPA Calls for CPA Exemption From Recently Delayed Red Flags Rule
The AICPA on Tuesday asked the Federal Trade Commission (FTC) to exempt CPAs from certain provisions of its Red Flags Ruleto prevent identity theft. The current action by the AICPA follows an FTC announcement last week that it would delay enforcement of the rule until Nov. 1. The Red Flags
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