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Accountants Association Says Federal Regulators Should Establish and Implement Common Principles Related to Cybersecurity Risk Management

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Jan 20, 2017

On January 20, 2017, the Association of International Certified Professional Accountants (the Association), a new organization composed of the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA), provided comments on three Federal agencies’ advance notice of proposed rulemaking (ANPR) regarding enhanced cyber risk management standards for large and interconnected entities and their service providers.

In the letter, Susan S. Coffey, CPA, CGMA, the Association’s executive vice president for public practice, noted that it while it is well understood that it is impossible to guarantee the prevention of a cybersecurity breach, this framework “will enable companies to demonstrate and communicate due diligence and due care in their management of cybersecurity risk in a consistent manner, serving the needs of multiple stakeholders with a single approach.”

Review the press release and the comment letter on the AICPA's website.

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