SFP 75: Two cyberthreats CPA firms should fear this Halloween

Ghosts, goblins and ghouls aren't the only scary things to watch out for this Halloween season. Hackers and criminal organizations are up to their old tricks -- and some new ones -- in their tireless efforts to breach your cyberdefenses and treat themselves to your computer networks and data.   So what kinds of spooky schemes are haunting CPA firms? And what can practitioners do to protect themselves and their clients? The Small Firm Philosophy podcast addressed those questions with Sarah Ference, CPA, a risk control director at CNA, the underwriter of the AICPA's professional liability insurance program.  Ference advises firms of all sizes on how they can manage their professional liability risk. In this episode, she identifies two cyberthreats being seen more often in accounting firm cyber-insurance claims and discusses ways firms can lower their risk of being victimized.  The Small Firm Philosophy podcast is produced by the AICPA's Private Companies Practice Section (PCPS). PCPS members can see an edited transript at https://www.aicpa.org/news/article/q-and-a-2-cyberattacks-cpa-firms-should-fear.  This episode of SFP provides information, rather than advice or opinion. It is accurate to the best of the author's knowledge as of the publish date. This article should not be viewed as a substitute for recommendations of a retained professional. Such consultation is recommended in applying this material in any particular factual situations. Examples are for illustrative purposes only and not intended to establish any standards of care, serve as legal advice, intended to constitute a contract, or acknowledge any given factual situation is covered under any CNA insurance policy. The relevant insurance policy provides actual terms, coverages, amounts, conditions, and exclusions for an insured.