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

Date: November 17, 2017 Time: 12:00 pm - 3:30 pm EST Location: Columbia, MD CPE: 4 Format: In-Person
EVENT 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
Participants will
Identify the risks that outsourcing business processes brings to your company or clients
Become familiar with the assurance services that reduce these risks
Study cases involving data breaches and their effects on the company’s controls and information systems
Recognize the accounting and audit standards which address data controls and breaches
Become aware of practical strategies to mitigate vulnerability
Gain insights into the responsibilities of service providers, external and internal accountants and audit committees in addressing cyber security risk.
MAJOR TOPICS
Data security & breaches – lessons of experience
What is cyber risk and how could it hit our company
A risk based approach to outsourcing business processes
Accounting standards for reporting and disclosing breaches
Audit and assurance issues, SOC reports
What is a cyber-security audit?
Cyber security insurance – who needs it?
Audit Committee responsibilities
EVENT DETAILS
PROFESSIONAL AREAS OF FOCUS
Accounting & Auditing Business & Industry
ADVANCED PREPARATION
None
CPE FIELD OF STUDY
Accounting (4 Credits)
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
COURSE LEVEL
Update
LOCATION
Loyola University Maryland Graduate Center Columbia Campus 8890 McGaw Rd, Columbia, MD 21045, USA
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