Industry Guide
Accounting firms handle some of the most sensitive financial data in any industry — tax returns, audit workpapers, payroll records, and financial statements. The IRS, FTC Safeguards Rule, and state data protection laws all impose specific requirements. And tax season makes uptime non-negotiable: a ransomware attack during April is a catastrophe.
FTC Safeguards Rule compliance for client financial data
Uptime during tax season when downtime is most costly
Ransomware targeting accounting firms for financial data
Secure file exchange with clients and the IRS
Accounting software (QuickBooks, Thomson Reuters, CCH) management
IRS e-file PIN and preparer security requirements
The FTC Safeguards Rule (updated 2023) requires all tax preparers and accounting firms that receive client financial information to implement a written information security plan (WISP). CPA firms may also face AICPA SOC requirements and state privacy laws.
An MSP experienced with accounting firms can help you document your WISP, implement the technical controls the FTC requires, and ensure your practice management software and cloud storage meet security standards. This is one area where a compliance-aware MSP pays for itself.
Tell us your location, company size, and industry. We'll match you with vetted managed IT providers who have experience with accounting firms.
Find local MSPs by city
The FTC Safeguards Rule requires financial institutions — including tax preparers and accounting firms — to implement a written information security plan (WISP) with specific technical and administrative controls. Updated in 2023, it now requires encryption, multi-factor authentication, access controls, and a designated security program coordinator. Non-compliance carries significant FTC enforcement risk.
A WISP (Written Information Security Plan) is a documented security policy required by the FTC Safeguards Rule and the IRS for tax professionals. It describes your security controls, risk assessment process, employee training, and incident response procedures. An MSP can help you build the technical controls the WISP describes and document them for compliance purposes.
MSPs protect accounting firms through layered security: endpoint detection and response (EDR) to catch threats before they spread, email filtering to block phishing, multi-factor authentication to prevent credential theft, and tested offsite backups so you can recover quickly if an attack does succeed. Tax season preparation should include a recovery test.
Look for MSPs with experience managing QuickBooks, QuickBooks Online, Thomson Reuters UltraTax, CCH Axcess, Lacerte, ProSeries, and common document management platforms like ShareFile or SmartVault. They should understand licensing, update cycles, and how to configure these securely.