A Pragmatic, Sensible Look at the GDPR Regulation Changes and How to Respond
New 19-page guide outlines what accountancy practices need to do and how to be compliant
UK Business is braced for yet another challenging year ahead of legislative change with the Data Protection Bill, which will transpose General Data Protection Regulation (GDPR) and become UK law on the 25th May 2018. Its’ aim is to harmonise data protection laws across Europe and replace out of date legislation that makes no allowance for the way in which data is now collected.
Smartphones, social media and other new digital technologies have transformed the data collection process and with more types and greater volumes of data anticipated in coming years, enhanced security is a necessity.
Although the Information Commissioner has called GDPR a ‘game changer’, personally I prefer to believe it is more ‘evolution’ than ‘revolution’ and as your firm will already be registered with the ICO and compliant with the current law, then that is a good starting point to build on. If your firm hasn’t yet started preparing for GDPR, then kick-start the process by mapping out all the data the firm holds to discover exactly what this information is, how it is stored and who it is being shared with.
Over the last year, we been working closely with selected global law firms and advisors to find solutions to the GDPR challenges faced by our customers and are confident that having a custom branded App will help in the collection and verification of data, in gaining the necessary opt in permissions, in the sharing of privacy policies and also in the storage and management of data.
GDPR presents an opportunity to revise existing privacy policies and achieve better organisation, improve data management and strengthen defences against data breaches and cyber risks.
‘Preparing your practice for GDPR’ is a new guide that is intended to provide practical insight on what to do now to prepare for the new legislation. This 19-page guide is packed with advice on legislation and steps for accountants to action including MTD, rights, data records and consent.
As with all compliance challenges, there can be an easier way.
Joel Oliver, CEO, MyFirmsApp