83 Percent of Organizations Highly Concerned with Entitywide Cybersecurity

CHICAGO (December 7, 2016) – A poll conducted by Baker Tilly Virchow Krause, LLP (Baker Tilly) indicates that more than 83 percent1 of organizations are highly concerned with entitywide cybersecurity, including 30 percent that ranked it as a top priority.

“Cybersecurity is an especially hard area to gain understanding when third party vendors and service providers handle your data,” Christine Anderson, CPA, CITP, managing partner of Baker Tilly’s assurance services, said. “With evolving regulations and guidance, and the fast pace of changing threats, organizations need to stay informed about the things they can do to mitigate risk.”

Baker Tilly recently held an educational webinar, “Service Organization Controls (SOC) examination updates,” to assist organizations in understanding the changes that will affect their SOC examinations.

The Baker Tilly webinar discussed:

  • The new SSAE18 standard guidance (effective for reports issued on or after May 1, 2017), its applicability and biggest client-impacting changes
  • Recent updates to the trust services principles and criteria, including the new privacy criteria, and the latest SOC 2 audit guide
  • How the new COSO exposure draft and 2017 cybersecurity framework may impact organizations

Presentation slides and a recording of the webinar are available at bakertilly.com/insights/service-organizations-controls-soc-exam-updates.

About Baker Tilly Virchow Krause, LLP (bakertilly.com)

Baker Tilly Virchow Krause, LLP (Baker Tilly) is a nationally recognized, full-service accounting and advisory firm whose specialized professionals connect with clients and their businesses through refreshing candor and clear industry insight. With approximately 2,700 employees across the United States, Baker Tilly is ranked as one of the 15 largest accounting and advisory firms in the country. Headquartered in Chicago, Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 147 countries, with 30,000 professionals. The combined worldwide revenue of independent member firms is $3.2 billion.

130 percent of respondents answered “top priority” and 53 percent answered “high concern” to poll question “How concerned is your organization with entity-wide cybersecurity?” during Service Organization Controls (SOC) examination updates webinar on Nov. 1, 2016.