Cloud Security Concerns For Accountants, A Top Concern … And Growing!jessie babaero
Cloud Security Concerns For Accountants, A Top Concern … And Growing!
[Part 1 of 3 series]
In our latest webinar, Essential Guide To Outsourcing And Cloud Security For Accountants, 23% of the audience identified cloud security as one of the top concerns about offshoring ranking it 2nd in the list from the poll conducted.
The share of this concern has grown considerably in the last six months, with over two-thirds of respondents citing the need to review their business exposure to security risks.
Essential Guide To Outsourcing And Cloud Security For Accountants (May 2017)
How To Become a Real-Time Accountant and Add Value to Your Firm (November 2016)
“Do you have a plan on how to manage your cloud security?”
The growing concern can be linked to the latest legislation on the mandatory disclosure of data breaches in the accounting industry. More importantly, the uptake of cloud technologies in recent years has been aggressive in the accounting industry. Room for improvement certainly exists in adopting tighter security controls to control firm IP and protect client data.
Jamie Beresford, CEO of Practice Protect, discussed the ways in which firm owners can ensure data security. Included in Beresford’s list is a single sign-on system (SSO) to ensure password protection. This means that offshore (and onshore) staff will not have only one password to access to various platforms or systems your business is using. This certainly brings:
- convenience in not having to remember several passwords for each platform that you are using
- a firm’s systems and data are locked in and accessible only in an assigned location with permission — in this case, where your offshoring office would be. Staff cannot log in outside of these premises unless given due access.
- an option to lock specific locations by IP address
- additional layers of protection if a computer is shared
- the ability of a single click to lock a team member out of all applications
- easy tracking and deleting of access should an employee leave
“Fundamentally, it’s about consolidating passwords in a single identity per person, that can be monitored and tracked 24/7.”
Mr. Beresford stresses, “it’s really important that you have that log in from a compliance perspective and from a due diligence perspective” as a reference to an example where a firm’s client was hacked.
Tracking the list of people who had access proved to be a very good way of getting to the cause and, at the same time, identifying the party responsible for the incident.
- No access to flash drives or any external drives, photocopy machines, among others, to prevent unauthorised copying of data. Several levels of approval from immediate superior to team leader to client are enforced before access is granted.
- Certain sites are prohibited
- Office premises are accessible only via an encrypted card
- Building access only via a thumbprint security
Jamie Beresford and his team at Practice Protect work to provide the safest environment for global businesses particularly those outsourcing into the Philippines. Learn more about cloud security and reach out to Jamie Beresford here.
If you are having capacity restraints, or looking to grow your firm, or just want to know what is possible with outsourcing, we are here to help.
Check the two other blog series of this webinar:
- Latest Data Shows A Big Increase In Accounting Firms Engaging In Outsourcing
- CEO Shares Insights On Handling Top Concerns With Outsourcing