{"id":115539,"date":"2023-08-21t11:45:11","date_gmt":"2023-08-21t15:45:11","guid":{"rendered":"\/\/www.g005e.com\/?p=115539"},"modified":"2024-08-27t17:01:29","modified_gmt":"2024-08-27t21:01:29","slug":"cybersecurity-exemptions-for-orgs-with-less-than-5k-clients","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/08\/21\/cybersecurity-exemptions-for-orgs-with-less-than-5k-clients\/","title":{"rendered":"cybersecurity exemptions for orgs with less than 5,000 clients"},"content":{"rendered":"
you may be off the hook, but not out of the woods.<\/b><\/p>\n
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by donny shimamoto<\/em><\/p>\n management consulting company aon described an exemption for some of the ftc requirements for firms that handle the personal identifiable information (pii) of less than 5,000 consumers.[i]<\/a><\/p>\n the safeguards rule provides an exception from certain requirements if the covered financial institution maintains customer information concerning fewer than 5,000 consumers. a consumer is defined in section 314.2(b)(1) of the safeguards rule as \u201can individual who obtains or has obtained a financial product or service from the financial institution that is used primarily for personal, family, or household purposes, or that individual\u2019s legal representative.\u201d<\/p>\n more:\u00a0 <\/strong>how hacker-proof is your firm?<\/a> | unleashing the power of technology: transforming accountants into trusted advisors<\/a> | future firm growth requires a mindshift<\/a>\u00a0|\u00a0ai, ocr, nlp & cpas: oh my!<\/a> \u00a0\u00a0| \u00a0accounting nerds, unlock your super powers<\/a> \u00a0| early adopters gain an edge in audit<\/a> | dustin wheeler: for serious cas success, hire tech teams<\/a> | csr for cpas: the missing ingredient<\/a> | donny shimamoto explains how ‘agile’ applies to cpa firms<\/a> |\u00a0 staff retention for remote workers<\/a> | why the future is in risk advisory<\/a> | \u00a0ready for non-cpa “cpa” firms?<\/a> essentially if you handle less than 5,000 social security numbers, then it would appear that you can take advantage of this exemption. aon went on to report that if you fall under this exemption, then you do not need to address the following requirements:<\/p>\n <\/p>\n in addition, aon said that only the following safeguards are required of firms that fall under this exemption:<\/p>\n many of you are probably relieved to hear of this exemption, and i am glad that you don\u2019t have to meet all of the requirements as well. they are particularly onerous for sole practitioners and very small firms because they don\u2019t have economies of scale.<\/p>\n however, keep in mind that these requirements are the minimum required level of compliance. i still recommend that all tax practitioners:<\/p>\n these three controls do not cost much to implement and can help to show that you still fulfilled your professional obligation to protect clients\u2019 data in the event of a cybersecurity incident.<\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":"
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[i]<\/a> https:\/\/www.cpai.com\/education-resources\/my-firm\/data-security-risk-management\/how-the-ftc-safeguards-rule-may-affect-your-cpa-firm<\/a>, february 2023<\/h6>\n