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Instructor
RANDOLPH P. (RANDY) JOHNSTON, MCS, has been a top-rated speaker in the technology industry for over 40 years. Inducted into the Accounting Hall of Fame in 2011, Randy is listed as a Top 25 Thought Leader in Accounting from 2011-2023. His influence throughout the accounting profession is highlighted once again this year by being a recipient of the 2022 Accounting Today Top 100 Most Influential People in Accounting award for the eighteenth consecutive year. Among his many other awards, he holds the honor of being one of nine technology stars in the U.S. by Accounting Technology Magazine. In addition, Randy writes a monthly column and produces a weekly podcast for The CPA Practice Advisor, features for the Journal of Accountancy, creates articles for accounting and technology publications, and is the author of numerous books. He has started and owns multiple businesses, including K2 Enterprises in Hammond, Louisiana, and Network Management Group, Inc. in Hutchinson, Kansas. NMGI has supported CPA firms for 30+ years and is the largest managed service provider serving the CPA profession in North America. His wife and four children enjoy many experiences together, including theatre, music, travel, golf, skiing, snorkeling, and model trains. His experience as a college instructor, management and technology consultant, and advisor to the profession will be evident to you in today's presentation.
Instructor
Instructor
Instructor
The FTC Safeguards Rule moved into the “penalty phase on” June 9, 2023. Under the Rule tax preparers, and firms providing services of a financial nature to clients, must implement security plans to protect client data. Failure to do so may result in an FTC investigation including possible stiff penalties.
Combatting today’s cybercriminals takes knowledge, good technology, and training for staff, because data thefts at tax professionals’ offices are on the rise. The requirements are outlined in various publications, including IRS Publication 4557. Any professional who holds a PTIN falls under the Pub 4557 requirements.The best way for firms to demonstrate compliance with both IRS Pub 4557 and the FTC Safeguards Rule is with a Written Information Security Plan (WISP).
In this 120-minute self-paced Master Class, participants receive expert-led instruction plus over 20 downloadable and editable templates, policies, and guidelines designed to help them quickly create and roll out their WISP.
● List examples of basic security steps and how to take them
● Identify the signs of data theft and how to report data theft
● Discover the key steps firms need to take to complete and roll out their WISP
● Leverage templates, policies and guidelines to actually complete the firm’s WISP
● Learn about the required security and privacy standards under both IRS and FTC Regulations
● Understand exactly how firms need to protect client data
● Explore the key roles that staff and clients play in keeping data safe
● Discover security “holes” present in most firms - and learn how to patch them
Basic knowledge of tax return preparation processes and cybersecurity issues
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Any accountant who processes tax returns, or, who has over 5K consumer PII accessible through their systems or records (regardless of whether they are active consumers or not) must comply with the FTC Safeguards Rule (and if you do tax you also have the IRS Pub 4557 requirements)