Stay Secure. Stay Ahead.
Implement security frameworks designed to protect client information while satisfying professional indemnity requirements
Accounting practices hold sensitive financial information making them attractive targets:
Attackers impersonate accounting firms or clients to redirect tax refunds, GST payments, or trust account transfers. BEC is among the top threats to Australian businesses per ASD, with accounting firms particularly vulnerable due to their role in financial transactions.
Tax file numbers, financial statements, bank account details, and business records enable identity theft and tax fraud. According to ASD, identity fraud is the most commonly reported cybercrime, with accountants holding exactly the information criminals target.
Practice management systems, tax return data, and client files are critical to operations. Ransomware attacks (11% of incidents per ASD) can shut down practices during tax season, destroying client relationships and creating professional liability exposure.
Compromised accountant credentials enable attackers to access client portals, tax systems, and banking platforms. With accountants frequently having elevated privileges in client systems, credential theft creates cascading exposure across multiple organizations.
Fraudulent emails appearing to come from the ATO, clients, or software vendors. Phishing was the initial access method in 38% of incidents reported to ASD. Accountants are specifically targeted during tax season when urgency and volume create vulnerability.
Staff with access to all client files, former employees retaining system access after departure, or inadequate access controls create risk of intentional data theft or accidental compromise. Departing staff may download client lists or sensitive information.
Based on security assessments across accounting practices:
Accounting firms face multiple security-related obligations:
Registered tax practitioners have explicit obligations to protect client information under the Tax Agent Services Act 2009 and the TPB Code of Professional Conduct.
Accounting firms handling personal information must comply with Australian Privacy Principles under the Privacy Act 1988, with specific obligations for security and breach notification.
PI insurers increasingly require evidence of cybersecurity controls as cyber incidents become leading sources of professional liability claims.
Accounting firms holding Australian Financial Services licences or providing financial services have additional obligations under Corporations Act.
The SMB1001 framework includes five progressive tiers. We specialize in Bronze, Silver, and Gold certification—designed for Australian accounting practices and aligned with TPB requirements, professional indemnity insurance expectations, and the threat landscape facing professional services. Diamond and Platinum tiers exist for enterprise organizations with dedicated security teams.
Addresses fundamental vulnerabilities commonly exploited in accounting practice breaches:
Bronze foundation + enhanced capabilities for growing practices:
Comprehensive security program for sophisticated accounting operations:
Our Process:
Note: We schedule implementation around busy seasons to minimize disruption. Technical implementation is typically performed by your IT resources or managed service provider with our guidance.
Third-party evidence of security controls for PI insurance underwriting—potentially reducing premiums or improving coverage terms in an increasingly difficult insurance market
Demonstrate security commitment when clients ask about data protection—particularly valuable when serving high-net-worth individuals, listed companies, or regulated entities
Systematic approach to addressing vulnerabilities commonly exploited in accounting breaches—BEC, ransomware, credential theft, and data compromise
Improved ransomware resilience and recovery capabilities protecting practice operations during critical lodgment periods
Documented security frameworks supporting obligations under the Tax Agent Services Act and TPB Code of Professional Conduct to protect client information
Security controls demonstrating "reasonable steps" to protect personal information under APP 11, reducing breach likelihood and supporting regulatory defence
A: The TPB Code of Professional Conduct requires tax practitioners to protect client information. SMB1001 provides a recognized framework demonstrating systematic security controls—supporting compliance with Code item 8 and reducing risk of TPB sanctions from data breaches.
A: IT support manages technology operations. We provide cybersecurity strategy, risk assessment, and certification guidance aligned with accounting industry threats and regulatory obligations. We work collaboratively with your IT provider to implement controls correctly and achieve certification.
A: We specifically schedule implementation around your busy periods. Most technical controls can be deployed during quieter months, with staff training timed to avoid July-October lodgment crunch. Assessment can occur any time with minimal disruption.
A: Cloud platforms provide infrastructure security, but you're responsible for access controls, user authentication, data handling procedures, and staff security awareness. Most accounting breaches occur through compromised credentials or phishing—not cloud infrastructure failures. SMB1001 ensures you're managing your responsibilities appropriately.
A: Bronze typically 3-4 months, Silver 4-6 months, Gold 6-9 months. Timeline depends on starting security maturity, resource availability, and whether implementation occurs around busy season scheduling constraints.
A: SMB1001 includes incident response frameworks from Bronze tier onward. You'll have documented procedures for breach detection, containment, Privacy Act notification, and TPB reporting—exactly what regulators and insurers expect. Having frameworks in place actually strengthens your response capability.
A: Many accounting PI insurers now ask specific questions about MFA, backup testing, security training, and incident response procedures. SMB1001 certification provides third-party evidence of these controls, potentially improving underwriting outcomes in an increasingly difficult insurance market.
A: Yes. SMB1001 includes vendor security assessment and third-party risk management. We evaluate your use of accounting platforms, tax software, and cloud services to ensure they're configured securely and meet your client data protection obligations.
Schedule a consultation to discuss how SMB1001 certification supports your accounting practice
Not ready yet? Return to homepage for more information
Email: hello@cyberpeople.com.au
Phone: +61 421 999 855