Four for Fall: Outsourcing & Cybersecurity: What CPAs Need to Know

Description

Many small to medium sized companies now outsource business processes in areas such as payroll collection or financial reporting. This involves sharing data across a variety of electronic platforms thereby making themselves vulnerable to cyber-attack. This course uses extensive examples to highlight the effects of cyber security breaches and strategies to mitigate these risks.

Learning Objectives
  1. Participants will
  2. Identify the risks that outsourcing business processes brings to your company or clients
  3. Become familiar with the assurance services that reduce these risks
  4. Study cases involving data breaches and their effects on the company’s controls and information systems
  5. Recognize the accounting and audit standards which address data controls and breaches
  6. Become aware of practical strategies to mitigate vulnerability
  7. Gain insights into the responsibilities of service providers, external and internal accountants and audit committees in addressing cyber security risk.
Major Topics
  1. Data security & breaches – lessons of experience
  2. What is cyber risk and how could it hit our company
  3. A risk based approach to outsourcing business processes
  4. Accounting standards for reporting and disclosing breaches
  5. Audit and assurance issues, SOC reports
  6. What is a cyber-security audit?
  7. Cyber security insurance – who needs it?
  8. Audit Committee responsibilities
Course Level
Update
Professional Area of Focus
Accounting & Auditing
Business & Industry
Advanced Preparation
None
CPE Field of Study
Accounting
4
Who Should Attend
Accountants who are involved in decisions to outsource business processes. External accountants who audit or review financial statements where outsourcing of business processes takes pace. Accountants who need to advise their clients or companies on making sound outsourcing decisions
Instructor(s)
Ray Thompson
Prerequisites
Prior learning or experience in revenue accounting
Advanced Preparation
  1. None
Location

Loyola University Maryland Graduate Center Columbia Campus, 8890 McGaw Rd Columbia, MD 21045-4743

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When
Nov 17, 2017
12:00 pm - 3:30 pm
Location
Loyola University Maryland Graduate Center Columbia Campus, 8890 McGaw Rd Columbia, MD 21045-4743
Total CPE Credits
4
Format
In-Person
Instructor
Ray Thompson

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Four for Fall: Outsourcing & Cybersecurity: What CPAs Need to Know


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