Written Information Security Plans

Overview

Thsi course provides a comprehensive overview of Written Information Security Plans (WISP), focusing on their purpose, requirements, and implentation. All PTIN holders must certify they have a WISP prior to renewal, along with certifying the training of employees, staff and contractors as necessary. Participants will explore the history and legal foundation of WISP under the Gramm-Leach-Bliley Act, and how compliances is enforsed through IRS Circular 230, AICPA Statments of Standards, The American Bar Associations and the Federal Trade Commission (FTC).

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics that will be covered in this course include:

• Introduction to the Gramm-Leach-Bliley Act and its impact on data security.
• Circular 230 compliance and due diligence for practitioners.
• AICPA Statements of Standards relevant to WISP requirements.
• Key components of a Written Information Security Plan.
• Training requirements for employees, staff, and contractors.
• Practical guidance for drafting and implementing a WISP.
• FTC enforcement of data security standards for PTIN holders.
• Best practices for maintaining and updating WISP compliance.

Prerequisites

None

Designed For

CPAs, EAs, Tax Practitioners, Financial Planners, Investment Advisors and other professionals subject to PTIN requirements or responsible for data security compliance

Objectives

After attending this presentation, you will be able to...

• Recall the Gramm-Leach-Bliley Act and its requirements for data security.
• Analyze compliance requirements under Circular 230 related to WISP and data security.
• Identify AICPA Statements of Standards applicable to WISP.
• Recall the essential components of a WISP and how to draft one.
• Recognize the role of employee and contractor training in maintaining data security compliance.
• Assess how FTC regulations impact WISP implementation and enforcement.
• Evaluate due diligence practices for ensuring WISP compliance.
• Develop strategies for monitoring and updating a WISP to meet evolving standards.

Preparation

None