Cybersecurity: Financial Reporting Issues and SEC Disclosures
Description
Cybersecurity has emerged as a critical concern for businesses, with far-reaching implications for financial reporting. According to IBM’s Cost of a Data Breach Report 2023, over 80% of organizations experience more than one data breach in 2022 and the global average cost of each breach is $4.5 million. The increasing frequency and sophistication of cyber threats, coupled with evolving regulatory landscapes, have created a complex environment that demands the attention of financial statement preparers and auditors. In this cybersecurity disclosures CPE course, you'll investigate the landscape and explore the SEC disclosure requirements.
While many companies provided cybersecurity disclosures, the Securities and Exchange Commission (SEC) believed that investors and companies “would benefit if this disclosure were made in a more consistent, comparable, and decision-useful way.” As a result, in July 2023, the SEC adopted rules to enhance and standardize disclosures regarding cybersecurity risks management, strategy, governance, and incidents by public companies.
In this CPE-eligible, cybersecurity disclosures course (1.0 CPE) we discuss the rising number (and rising cost) of cyberattacks, as well as the accounting and reporting issues that arise under U.S. GAAP. We’ll look at actual cyberattacks on “real-life” companies by reviewing their disclosures and resulting (decrease) in stock price. The course also provides you with the requirements of the SEC’s cybersecurity risk management, strategy, governance, and incident disclosure rules for public companies, reviewing actual disclosures by public companies since the rule was effective.
Topics covered include:
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Learning Objectives
By the end of this course, you should be able to:
- Recall facts about the prevalence of cyberattacks and breaches
- Identify the impact of cyberattacks on financial reporting under U.S. GAAP
- Recall the requirements of the SEC’s cybersecurity disclosure rules for public companies
Additional Information
| Last Updated | 02/03/2025 |
|---|---|
| CPE Credit | 1.0 |
| Field of Study | Accounting |
| Instructional Delivery Method | QAS Self Study |
| Knowledge Level | Overview |
| Prerequisites | None |
| Advanced Preparation | None |
| Expiration | This course, collection, or subscription expires one year from the date of purchase. The post-course assessment for each course must be satisfactorily completed, as evidenced by a passing grade of at least 70%, by the expiration date to be awarded any qualifying continuing professional education (CPE) credit. |
| Refund or Cancellation Policy | For more information regarding refunds, concerns, and program cancellation policies, please contact the GAAP Dynamics Support Team via email at support@gaapdynamics.com or call (804) 897-0608. |
$120
1h 00m
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