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3 Steps to Protect Your Professional Services Firm Reputation with Information Security

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3 Steps to Protect Your Accounting Firm's Reputation with Information Security In 2017, Deloitte was targeted by a sophisticated hack that compromised confidential emails and plans of some of their clients. If one of the Big Four accounting firms with vast resources to throw at information security can be breached, anyone can. In fact, per insurance company Hiscox, small firms make up 57% of information security cases, while large firms make up 21% of cases. However, larger firms have ten times the average number of incidents per company compared to small firms. So, it seems no one is immune. News headlines are constantly notifying and reminding us of the dangers of cyberattacks and the costly effects of poor information mismanagement. Data breaches are commonplace these days and accounting firms are especially vulnerable because of the sensitive personal and financial information they manage for their clients. It's imperative that information and data security are at the forefront of business conversations — as a breach can cost firms money and even worse risk their reputation. Many pundits claim that there are two types of organizations, those that have been breached and those that will be. Therefore, it's not a question of if, rather it's when. And between now and then, there are many things that accounting firms can do to mitigate the risks and potential effects of a breach.

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