Face value

A press release passed over my desk recently in which claims were made that nearly all accountancy firms would close in the next year if they did not take better precautions against internet viruses and back up information on a daily basis.

The person mentioned in the release declared more than 90% of accountancy firms would close in the next year, if more due diligence in risk assessment of their systems were not taken.

In particular the use of Facebook and LinkedIn opened up firms systems to viruses and bugs, which could have crippling results.

Not one to point the finger or snigger at outrageous beliefs, the wild accusations raises a valid point.

Although social networking sites are a good source of client interaction, it is not as rose tinted as some realise.

Backing up all software and information as well as keeping up to date on “bugs” and anti-virus programmes should be an essential part of an accountancy firm’s day to day routine.

As internet or cloud computing becomes more common place, and remote working mandatory, the crux of the original article remains valid.

Firms which sneer at the closure of its business due to viruses may not realise aside from people, its only asset is the information – which should be guarded at all costs if it is to remain in business in the 21st century.

Claims that more than 90% of firms could go into administration in the next year is a bit steep for my liking, however firms should take this warning seriously unless they don’t mind becoming a statistic.