February 1, 2018
With the occurrence of cybercrimes affecting businesses increasing daily, many companies are looking for outside expertise to help them mitigate their risks. If your company has never engaged a cybersecurity professional before, you may be unsure of what to look for. The IRS suggests businesses use the following four steps when evaluating and selecting a cybersecurity professional:
1. Ask other business owners or professionals for recommendations and references.
2. Keep trust at the forefront of your selection process. Since any cybersecurity professional you hire will have access to sensitive data and systems within your organization, it is essential that you feel comfortable granting such access to them.
3. When interviewing candidates, make sure you learn how much experience they have in data protection. The IRS suggests asking questions such as:
4. Once you have identified the cybersecurity professional or firm that you wish to engage, make sure that you execute a written agreement or engagement letter to ensure both parties understand how you will be working together.
For businesses that do not have an internal resource to help them safeguard their sensitive data and computer systems, hiring an independent cybersecurity professional or firm can be a wise decision. If your business decides to engage this type of resource, use the steps above to help you find the right fit for your company’s unique needs.
Spend it? Save it? Invest it? Share it? Here are a few ideas for putting your tax refund to work for you:
The American Rescue Plan Act (ARPA), signed into law in early March, aims at offering widespread financial relief to individuals and employers adversely affected by the COVID-19 pandemic. The law specifically targets small businesses in many of its provisions.
Most professions have their own lingo, and accounting is no different. What is different is that you have a vested interest in understanding what your accountant tells you about your financial situation. So, here’s a quick primer on common accounting terms—some business-related, some general—to keep you in the know: