Today, the information created,
processed, and used by a practice is one of its most
valuable assets. The disclosure, compromise or
unavailability of this asset can severely impact a practice,
constitute a breach of laws and regulations, and negatively
affect its brand name.
The requirements of the Data
Protection Act, Disaster Recovery, and Business Continuity
Management means that ensuring adequate security of
information and of information-processing systems is a
fundamental management responsibility.
Partners and managers must
understand the current status of their information security
program in order to make well-founded judgments and
investments that appropriately mitigate risks to an
acceptable level.
Information risks might lead
to critical situations when extrapolated to vital business
and legal issues of the practice. Thus, information risks
may lead to more generic and more critical risk categories
such as:
Legal / Compliance Risk
Financial Stability Risks.
Productivity Risk
Reputation and Client
Confidence.
