Self-Study: Data Protection and IRS Compliance: Crafting an Effective WISP

Overview

Protecting financial client data is crucial to maintaining trust and integrity in the financial industry. A Written Information Security Program (WISP), required by the IRS, is designed to help tax pros effectively plan data security. Andrew Lassise, of Tech 4 Accountants/Rightworks, shares his expertise in helping tax and other financial professionals with IRS compliance and data protection measures. He explains how to maximize the IRS requirement to complete a WISP, offering a helpful road map for tax pros to protect their clients and themselves with a comprehensive cybersecurity strategy.

Highlights

• tax planning strategies
• SEC reporting updates
• automation for accountants
• IRS compliance guidelines
• financial disclosure requirements

Objectives

• Distinguish the specific IRS requirements that must be addressed within a WISP to ensure compliance
• Recognize the risks mitigated by having a WISP in place and how it impacts overall risk management strategy
• Recognize how to train employees for effective WISP compliance and encourage ongoing compliance
• Identify how implementing and maintaining a WISP affects internal controls and procedures and prevents costs of non — compliance