BusinessCompany NewsKPMG warns of data protection crisis

KPMG warns of data protection crisis

Crisis will affect both public and private sector organisations that store paper-based files

KPMG has warned both public and private
sector organisations that they are facing a data protection crisis that will
affect the way they store paper-based files.

The firm issued this warning because the ‘Transitional Relief’ exemption that
applied to files created prior to the
Data
Protection Act 1998
(DPA) will come to an end in six months’ time.

It said organisations with significant amounts of paper based records will
struggle to comply with simple requests from members of the public who want to
know who has access to their personal data, whether it is accurate, and gain
confirmation that it is stored securely.

Failure to supply this information within 40 days will breach the DPA and
could damage the organisation’s reputation.

‘At a time when identify theft is a growing problem, custodians of our
personal information hold a position of trust,’ says Steve Kenny, privacy
services leader with KPMG.

‘We are concerned that many organisations have not grasped the potential
scale of this problem. Companies need to understand very quickly how exposed
they are, before the relief period comes to an end. Worryingly, many internal
audit and compliance functions may have let this slip off the radar.’

Further reading:

Heads in the sand over fraud

Accounting: The key to data

Technology: no time to waste

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor