Privacy is a risk management issue for all businesses. The organizations that CPAs serve often look to their CPAs for assistance in managing risks, one of which is privacy-related risk. CPAs can assist these organizations not only by helping to minimize privacy risk, but by providing them with strategic privacy management.

Customers and employees perceive risks in the collection, storage, use, and distribution of their personal information. Research studies over the past few years continue to show that individuals are increasingly worried about the protection of their personal information. CPAs have the skills and training necessary to help organizations implement good privacy practices to build confidence among customers and employees.

Many organizations collect, store, process, and use personal information. Disparate international and domestic laws and regulations have been passed that affect a great number of these organizations. Many organizations are at risk of either noncompliance or customer dissatisfaction from inadequate privacy polices and practices. These organizations are in need of guidance to help them comply with these laws.

Organizations engaged in any form of individual data collection, storage, and use need to comply with regulatory acts, reduce litigation risks, and build confidence and trust in their privacy practices. The AICPA/CICA Privacy Framework of Practices and Criteria gives CPAs specific guidelines for helping organizations implement sound privacy practices and policies. Businesses that implement privacy policies in accordance with this framework will likely meet, if not exceed, applicable privacy regulations or laws while reducing privacy-related risks.

CPAs draw upon over 100 years of history in providing assurance around information. They possess the credibility, trustworthiness, and skills to help the organizations they serve build confidence and trust in their privacy practices.

Privacy Services create new revenue streams for CPAs in public practice and new ways in which to enhance value to employers for CPAs in business and industry.

Privacy Services help to: