If your company reports under AICPA SOC (System and Organization Controls) 2, you should already be preparing for the new guidance and updated Trust Services Criteria (TSC) that take effect for periods ending after December 15, 2018.
Equifax stock fell 35% after a massive data breach was revealed — and at least one executive is facing criminal charges. Target’s quarterly net earnings plunged 46% following the news that credit card information had been compromised for as many as 110 million customers.
The division of corporation finance, a part of the Securities and Exchange Commission, issued guidance on disclosure obligations related to cyber security risks and incidents.
“Recognize and Respond to Mobile Device and BYOD Security Exposures” by Kevin Barber, Brian Thomas & Brittany George for NSA Chamber Technology Council (March 1, 2013)