The growing importance of IoT security in the accounting industry
By Tony Chiappetta, CHIPS
April 13, 2023
Cybersecurity has become a crucial concern for businesses in all industries. With the growing prevalence of the Internet of Things (IoT), it's more important than ever for CPAs and accounting professionals to be aware of the security risks and best practices associated with IoT devices and networks.
IoT refers to the interconnection of everyday objects and devices, such as computers, smartphones and even household appliances via the internet to exchange data and information. This technology has become increasingly prevalent in recent years as more and more devices become "smart" and are designed to connect to the internet.
While IoT technology can provide many benefits, it also presents new vulnerabilities and security challenges. According to
Forbes, IoT security tenets are one of the most anticipated cybersecurity trends to materialize in 2023. As a CPA or accounting professional, it's critical to understand what the IoT is, why it matters and how it applies to you.
How does IoT interact with accounting?
The accounting industry is heavily reliant on technology, and IoT devices are increasingly being used to streamline processes. For example, IoT devices can be used to monitor inventory levels, track shipments and automate bookkeeping tasks. However, the use of IoT devices also introduces new security risks, such as data breaches and cyberattacks. CPAs and accounting professionals must be aware of these risks and take steps to mitigate them.
There are several best practices that CPAs and accounting professionals can implement to protect against IoT security risks.
- Optimizing performance. Enhancing devices and networks to support optimal performance limits the number of influences on a given device or network and can provide your team with the best overall work experience. It also inherently predicts that security will be at its highest possible, using in-device or in-network tools available.
- IoT-scale protective measures. IoT extends to every device in your fractional network, which supports of the need for holistic cybersecurity. You can begin implementing holistic cybersecurity today by limiting any fractional systems currently in place.
- Compliance management. Compliance is a critical element of cybersecurity that can go ignored for other, larger-scale updates. Regular compliance checks can be invaluable to protect and defend your network.
- Windows desktop and server. Cybercriminals ultimately want to compromise servers and user computers. Hardening the Windows Operating System from attack will maintain the integrity of the computers, even if an attacker has gained access to the network. The Zero Trust Endpoint Protection solution provided by CHIPS was specifically engineered to maintain the integrity of a critical device from sophisticated attackers within a hostile environment.
IoT and the future of accounting
IoT security is a growing concern for the accounting industry. As technology continues to evolve, it's important for CPAs and accounting professionals to stay informed and take proactive measures to protect against security risks. By implementing best practices and staying up to date on the latest cybersecurity trends, you can help ensure the safety and security of your clients' sensitive information.
Tony Chiappetta is the president of CHIPS, a business-focused technology provider based out of White Bear Lake, MN. You may reach Tony at tony@chipscs.com.
