To protect customers’ privacy and security safeguards, the IRS requires the creation of a written information security plan (WISP) or program.
Various issues come into play with the creation of a WISP, such as updating customers on privacy practices and providing them opt out notices as applicable. This course provides detailed information on these and other requirements.
After completing this course, you will be able to:
- Identify the breadth of the Federal Trade Commission’s rulemaking and enforcement authority under the Gramm-Leach-Bliley Act over accounting and tax professionals
- Specify the nine elements of a written information security program or plan (WISP)
- Understand how to create a written information security program or plan (WISP)
- Identify how to comply with the initial and annual privacy notice requirements, and the opt out rule
- Specify why data privacy and security compliance is important for federal, state, and other regulatory purposes
