Want to create an interactive transcript for this episode?
Podcast: Budgets, Books, & Balance Sheets: An Accounting & Finance Podcast
Episode: Episode #40 | Cybersecurity for Accounting Firms: Best Practices
Description: According to the 2021 Data Breach Investigations Report by Verizon, 86% of all data breaches to companies and fintechs were financially motivated, and 61% involved credential data. When added up, the average cost of these data breaches for an accounting firm is $2.2 million, according to a report by IBM.
That's a lot of money and reputation at stake. So how can accounting firms protect themselves and their clients from cyber-attacks?Â
Cybersecurity, as a concept, is the practice of protecting data, systems, and networks from cyber threats, such as hackers, malware, ransomware, phishing, and more. Cybersecurity is especially crucial f...