The European Council and Parliament have agreed to strict new rules regarding data privacy and data protection. These rules, called the General Data Protection Regulation (GDPR) will require accountants to change many aspects of the ways in which they handle information. As an accounting professional, it is imperative you understand the new regulations and are ready to fulfill them when GDPR goes into effect in spring of 2018.
Some of the key things you need to do before GDPR hits, in order to ensure you’re in compliance with your new obligations, include the following.
Understanding the difference between data controller or data processor
Data processors and data controllers have different obligations. Data controllers determine the purpose of collecting personal data and the means for collection. Data processors act under the instructions of data controllers.
Perform a data audit
You’ll need to consider how your firm collects personal data, as well as how it holds and processes that data. Identify the different ways your firm collects information on employees and clients, develop a process for eliminating outdated data, and establish a new system of collecting and processing information that is GDPR compliant.
Vet any third party solutions
When you are using third-party software to collect or process data, make sure you determine if the system will meet your GDPR requirements. The factors that could affect whether the third-party software is compliant include where data is stored by the third party, what their security infrastructure is, and what their backup and recovery procedures entail.
Communicate with clients
Accountants can work with clients to determine if those clients are GDPR compliant. Working on a compliance readiness plan with clients can be very beneficial.
Vanguard Staffing can help accounting firms and companies with accounting departments hire accounting professionals who are familiar with the General Data Protection Regulation are ready and willing to comply with new requirements to avoid legal liability for failure to properly protect and safeguard data.
We can also help qualified candidates with knowledge of GDPR find work with companies looking for people with their knowledge and skills. To find out more about how a top staffing agency in Westchester can help you, give us a call today.