Is Your Written Information Security Plan (WISP) Aligned with Federal Regulations?

Ensure Your Written Information Security Plan (WISP) Meets Federal Standards
Tax and accounting professionals possess highly sought-after data, making them prime targets for cyberattacks. Clients’ personal details, including names, social security numbers, financial information, and addresses, can be exploited by criminals to commit identity theft, file fraudulent tax returns, obtain loans, and more. To safeguard client data, IRS regulation 5293 and legal requirements mandate that paid accounting and tax practices develop and implement a Written Information Security Plan (WISP). This plan outlines the measures taken to protect sensitive information.

Review this checklist to verify that your WISP adheres to federal regulations and includes the necessary components:

  • Designate a responsible party to oversee your WISP program.
  • Identify vulnerabilities and risks specific to your practice.
  • Outline the utilization of technology and hardware to complete tasks securely.
  • Detail your process for safeguarding documents.

Maintaining cybersecurity need not be an overwhelming task. By ensuring your WISP meets compliance standards and employing appropriate technology, you can confidently protect your most valuable information with robust security measures.

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