tech and fintech

do your apps play well with others?

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be careful as you gather your ideal technology.

by penny breslin
it’s not just the numbers

software is always changing, and new products come to market quicker than ever before. twenty-five years ago, software such as quickbooks, peachtree, accpac and mas changed how we did accounting. ledger books became a thing of the past as we could now review ledgers on a computer screen. in the last nine years, cloud-based systems have radically changed accounting once again.

more: understand your online marketing options | digital marketing strategies level the playing field | eight tasks to delegate today | advisory services done your way | how back office support adds value | ai is not your enemy
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the technology landscape can be confusing, but that will always be the case. your goal is to find what works for you and train your team and clients on a limited number of products that can become the base of your work. we call this our little black dress.
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the 7 categories of cybersecurity solutions firms need

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how important are wisp and employee awareness? just ask the irs or the ftc. 

by donny shimamoto, cpa, citp, cgma
on cybersecurity for accountants
center for accounting transformation

historically, finding cybersecurity solutions “right-sized” for the small and mid-sized business space was difficult. most of the technologies were expensive and difficult to implement, and their price points weren’t reasonable for organizations with under 25 people. it’s only been within the last five years that we’ve seen solutions mature and evolve enough to be delivered via the cloud at a price point that makes sense for smaller organizations.

more: how hacker-proof is your firm? | donny shimamoto: future firm growth requires a mindshift | ai, ocr, nlp & cpas: oh my!   |  accounting nerds, unlock your super powers  | early adopters gain an edge in audit | dustin wheeler: for serious cas success, hire tech teams | csr for cpas: the missing ingredient | donny shimamoto explains how ‘agile’ applies to cpa firms |  staff retention for remote workers | why the future is in risk advisory |  ready for non-cpa “cpa” firms?
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to check if your policy addresses all of the requirements, take our cybersecurity compliance self-assessment for tax practitioners at: improvetheworld.net/cyberselfassessfortaxbook

with the covid-19 pandemic and the adoption of remote work increased cybersecurity threats, the cybersecurity industry has stepped up and made solutions much more affordable and easier to implement. these solutions still require some technical knowledge to install, but there is much less maintenance, and they now make economic sense even for sole practitioners. read more →

understanding the full cost of a data breach

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indirect costs often have a much greater impact—especially for smaller firms.

by donny shimamoto
cybersecurity for accountants

generally, when there is unauthorized access to personally identifiable information (pii), a data breach is considered to have happened. originally pii was only defined as:

more:  how hacker-proof is your firm? | unleashing the power of technology: transforming accountants into trusted advisors | future firm growth requires a mindshift | ai, ocr, nlp & cpas: oh my!   |  accounting nerds, unlock your super powers  | early adopters gain an edge in audit | dustin wheeler: for serious cas success, hire tech teams | csr for cpas: the missing ingredient | donny shimamoto explains how ‘agile’ applies to cpa firms |  staff retention for remote workers | why the future is in risk advisory |  ready for non-cpa “cpa” firms?
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  • a first name or initial and last name, along with:
    • social security number (ssn)
    • driver’s license number
    • credit or debit card number
    • financial account number with access code (e.g., a bank account number and pin)
  • personal health information (also known as phi)

however, due to the increasing sensitivity of the public to privacy concerns and resulting legislative actions, the following is also often considered to be part of pii: [i]

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bill gates behind next-generation nuclear plant

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the new plant could be in operation as early as 2029. 

by rick richardson
technology this week

even by wyoming standards, kemmerer is far away – it’s a 50-mile diversion from interstate 80.

more: your boarding pass could onboard hackers | generative ai coming to microsoft 365 | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
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it draws tourists who stop by to look for local fossils, even though its elevation is higher than its population. however, different types of fossils, or fossil fuels, produce the best jobs. three power plants are powered by a coal mine and gas wells, which together employ around 450 people. however, kemmerer officials see the writing on the wall with the declining use of fossil fuel and all the efforts to migrate to cleaner energy.
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are you ready to become a data analyst?

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the right dashboards can optimize your data … and your value.

by bonnie buol ruszczyk

business leaders are constantly called upon to make snap – yet important – decisions. yet, poring through spreadsheets, reports and financial statements can be a laborious and time-consuming process, especially for those who need to act on urgent matters.

more: survey: zoom, teams top meeting choices | are you using too many monitors? or not enough? | one in four firms replaces servers by schedule | you’re probably not reading this on an ipad | 52% of firms look outside for it support | pandemic? what pandemic? | today’s top 3 problems: staffing, workflow and tech
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this is where data visualization tools can be a tremendous boon to organizations. automatically pulling from various data sources, these cloud-based, interactive dashboards present business data visually using charts, graphs and other widgets. once designed, these repositories save precious time for analysts, managers and key decision-makers, allowing them to focus on the information and analysis rather than on the grueling process of gathering it and creating reports.

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your boarding pass could onboard hackers

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while it may make a cute vacay pic, posting on social could give hackers all they need to rip you off.

by rick richardson
technology this week

any pictures of your boarding pass should be excluded when choosing which travel photos to share on social media.

the documents may appear to be nothing more than travel souvenirs outside of their primary use at the airport, but they are much more informative than many travelers realize.

more tech this week: chatgpt passes cpa exam on second try | smartwatch saves two lives | first e-road charges electric vehicles as they drive | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
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if cybercriminals can get a picture of a boarding pass, they can exploit travelers in several ways.

even while the information on the documents appears to be sparse, bad actors “can very easily bring up the rest of the things they need to know about you from public records, like your date of birth, your address, your phone number, or your email address,” according to amir tarighat, ceo of cybersecurity company agency.

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irs and ftc cybersecurity expectations of tax practitioners

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your tools for a cybersecurity compliance check-up.

by donny shimamoto
cybersecurity for accountants

in august 2019, the irs published its list of “security six” steps to protect taxpayer information.[i] these described the six “basic protections” that it expects tax prepares to utilize.

more:  how hacker-proof is your firm? | unleashing the power of technology: transforming accountants into trusted advisors | future firm growth requires a mindshift | ai, ocr, nlp & cpas: oh my!   |  accounting nerds, unlock your super powers  | early adopters gain an edge in audit | dustin wheeler: for serious cas success, hire tech teams | csr for cpas: the missing ingredient | donny shimamoto explains how ‘agile’ applies to cpa firms |  staff retention for remote workers | why the future is in risk advisory |  ready for non-cpa “cpa” firms?
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these include:

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what can chatgpt do for accounting professionals?

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the dawning of new technologies is usually daunting, but this is one we should all be excited to try.

by sandi leyva
the complete guide to marketing for tax & accounting firms

chatgpt has been in the news almost daily. it’s the latest “hot” technology. you might be wondering what’s so great about it, i.e., what can it do for accountants?

 

new course: are you looking for an accounting-specific course on chatgpt?  we have one right here! 

when we answer that question, we really need to answer a couple of questions. first, what can it not do, or what shouldn’t we use it for? and second, what tasks are safe or low-risk that we can use it for to increase our productivity?

more: make the most of cpe conferences | set bold new goals for the rest of the year | generative ai: should you avoid it or adopt it? | five ways to acquire more clients | five stages of any business | leverage your client list today | need leads? try a quiz
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first, we’ll look at what not to use chatgpt for and then we’ll look at what you should be using it for. last, we’ll examine two rules to follow when using chatgpt.
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generative ai coming to microsoft 365

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microsoft is putting a lot of eggs – $10 billion – in the openai basket.

by rick richardson
technology this week

microsoft has recently dominated the tech news cycle as a result of its $10 billion investment in openai, the company that created chatgpt, and a flurry of new products like bing chat. the redmond behemoth isn’t done either; it’s getting ready to introduce a brand-new ai-powered assistant to its office suite.

more tech this week: congress: tax prep companies shared private data with google, meta for years | the first police officer on the scene might be a drone | research: accounting pros cautiously optimistic about generative ai | first e-road charges electric vehicles as they drive | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

dubbed microsoft 365 copilot, the feature will automate tasks like writing emails, summarizing meetings and even making beautiful powerpoint presentations. even though it all seems too good to be true, microsoft’s initial demos show promise.

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cybersecurity exemptions for orgs with less than 5,000 clients

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you may be off the hook, but not out of the woods.

by donny shimamoto

management consulting company aon described an exemption for some of the ftc requirements for firms that handle the personal identifiable information (pii) of less than 5,000 consumers.[i]

the safeguards rule provides an exception from certain requirements if the covered financial institution maintains customer information concerning fewer than 5,000 consumers. a consumer is defined in section 314.2(b)(1) of the safeguards rule as “an individual who obtains or has obtained a financial product or service from the financial institution that is used primarily for personal, family, or household purposes, or that individual’s legal representative.”

more:  how hacker-proof is your firm? | unleashing the power of technology: transforming accountants into trusted advisors | future firm growth requires a mindshift | ai, ocr, nlp & cpas: oh my!   |  accounting nerds, unlock your super powers  | early adopters gain an edge in audit | dustin wheeler: for serious cas success, hire tech teams | csr for cpas: the missing ingredient | donny shimamoto explains how ‘agile’ applies to cpa firms |  staff retention for remote workers | why the future is in risk advisory |  ready for non-cpa “cpa” firms?
goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

essentially if you handle less than 5,000 social security numbers, then it would appear that you can take advantage of this exemption. aon went on to report that if you fall under this exemption, then you do not need to address the following requirements:

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congress: tax prep companies shared private data with google, meta for years

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former ftc chief says this data breach is a “five-alarm fire.”

by rick richardson
technology this week

a seven-month congressional investigation found that three of the biggest tax preparation firms in the country may have shared americans’ private financial information with google and meta for years in a possible violation of federal law. the information, in some cases, was used for targeted advertising.

more tech this week: the first police officer on the scene might be a drone | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the investigation’s findings reveal a “five-alarm fire” for taxpayer privacy that, according to legal experts, could result in public and private lawsuits, criminal penalties or even a “mortal blow” for some major industry players like taxslayer, h&r block and taxact.

“on a scale from one to 10, this is a 15 … this is as great as any privacy breach that i’ve seen other than exploiting kids. this is a five-alarm fire if what we know about this so far is true.”

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safe harbor compliance reduces risk of fines and penalties

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protect your clients–and your firm–by being proactive.

by donny shimamoto, cpa, citp, cgma

in the last few years, we’re starting to see state legislatures and attorney generals recognizing that tax practitioners are trying to protect their clients. they are formalizing this recognition with changes to regulations or laws to include “safe harbor” provisions that limit or eliminate the fines and penalties for tax practitioners who take proactive action to manage their cybersecurity risks.

more:  how hacker-proof is your firm? | unleashing the power of technology: transforming accountants into trusted advisors | future firm growth requires a mindshift | ai, ocr, nlp & cpas: oh my!   |  accounting nerds, unlock your super powers  | early adopters gain an edge in audit | dustin wheeler: for serious cas success, hire tech teams | csr for cpas: the missing ingredient | donny shimamoto explains how ‘agile’ applies to cpa firms |  staff retention for remote workers | why the future is in risk advisory |  ready for non-cpa “cpa” firms?
goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

as of december 2022, the following states have some type of safe harbor provision in place:

in contrast, states like california and colorado are taking the opposite approach and penalizing organizations that have data breaches.[iv]

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the three best project management apps to control workflow

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working from home? these three apps can help you collaborate better with long-distance colleagues.

by beth ziesenis
app of the week

it’s probably no surprise that more than half of americans would prefer to work from home. fortunately, technology has progressed so rapidly since the 1980s that more than 80% of americans say their homes are properly prepared for home offices. (a pandemic forcing employees to work from home and companies to adequately prepare for remote employees didn’t hurt the cause, either.)

more apps of the week:  automate captions for videos | can’t read it now? save it for later | don’t lose precious memories: digitize old photos | track your mileage automatically | keep track of your subscriptions | capture testimonials to increase credibility | find an extra set of hands for time-consuming tasks | personalize communication and set yourself apart from competition | waiting to exhale (i.e., can april 19 hurry up?) |
see all: apps of the week here |
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however, keeping your entire team on the same page with regard to objectives, strategies, expectations and deadlines can be a chore. fortunately, there are lots of project management apps out there to help, but how do you know which one is best for you? here, i’ll highlight three of my favorites.

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