In the past, it was the norm for businesses to share confidential documents with accountants by email. However, the General Data Protection Regulation (GDPR), which came into force in 2018, made it obligatory for accountants to strengthen the security of their data processing and storage procedures. Post-GDPR, accounting systems must ensure rigorous protection for every exchange of sensitive information, ruling out the use of standard email services.
The GDPR both reinforces data protection and improves transparency. Clients have the right to ask for all personal information that is held by their accountant and to receive it within one calendar month. Accounting businesses must also put procedures in place for reporting breaches in security. In addition, accountants must now enable e-signatures as they capture a comprehensive audit trail, including precise time and date of signature, as well as details of what the signer consented to. E-signatures speed up approval processes and eliminate the need to print out private documents or send them in a potentially unsecure email.
At BW Accounting Solutions, we were well-placed for GDPR as we already used secure cloud accounting software before the regulation was implemented. Each of our clients benefits from a secure document sharing facility which they can access on their own online portal. We upload important documents to this portal so that they can be safely accessed at any time, from any location. Clients can easily update details and e-sign documents when required.
If you have questions about our safeguarding procedures or accounting software, please do not hesitate to get in touch with the team by calling 01204 665888 or emailing firstname.lastname@example.org.