Risk Management

Combatting sexual assault in the workplace

Combating Sexual Assault in the Workplace

Research shows more than eight in ten women experience assault in the workplace within their lifetimes. The recent #MeToo movement has only made the issue more evident for employees and their employers, causing a spike in sexual harassment claims filed with the U.S. Equal Employment Opportunity Commission (EEOC). With new cases being filed every year, […]

Cryptocurrency and Accounting: What Do You Need to Know?

Cryptocurrency has become a worldwide phenomenon since the first Bitcoin transaction in 2009. Today’s market is valued at more than $2 trillion, with recent advancements in crypto expanding how digital assets can be created, used, and transferred. However, the ever-changing scope of digital assets and introductions of new applications—such as the recent wave of NFTs—has […]

Keyboard and Lock representing cyber our security insurance overview

A Comprehensive Cyber Insurance Overview

According to a report from IBM and the Ponemon Institute, the average data breach cost for businesses with fewer than 500 employees is $2.98 million. The popular idea that cyberattacks target only large businesses has resulted in small to medium-sized companies across the globe being frequently at risk of a potentially crippling digital security breach. […]

McGowan professional lastpass security breaches

LastPass Security Breaches: Is It Time to Make a Change?

Almost three-quarters of Americans use handwritten notes or their own memory to store passwords. Unfortunately, relying on manual methods to remember codes is one of the leading causes of security breaches and identity theft. In fact, internet users that do not employ security safeguards such as a password management system are three times more likely […]

McGowanPro Blocking Ransomware Attacks with Updated Microsoft Security Features

Blocking Ransomware Attacks with Updated Microsoft Security Features

What is Ransomware? Ransomware is a form of malware (short for “malicious software”) in which a hacker gains control of a business’s critical systems or sensitive information. The cybercriminal will then ask for a ransom in exchange for access to the system under the threat of releasing sensitive data to the public or competitors. The […]

McGowanPro employee fraud

The inevitable rise of employee fraud and theft

In the past 24 months, 46% of organizations have experienced fraud, according to this year’s PwC Global Economic Crime and Fraud Survey. This loss translates to $400 billion, or 6% of total annual revenue. Unfortunately, a significant contributor to fraud is dishonest employees. Employee theft is poised to increase in the aftermath of the pandemic […]

3 Ways to Minimize Risk When Outsourcing Accounting Services

During busy tax seasons, it’s common for accountants, CPAs, and professional service firms to outsource certain aspects of their work, including bookkeeping and certain audit tasks. When done right, outsourcing accounting services can result in faster service for clients, substantial time savings, and lower costs. However, understanding the risks of outsourcing is critical. Taking shortcuts […]

McGowanPro cyber insurance fraud

Are you at risk of Cyber Insurance Fraud?

Companies are under more pressure to shore up cybersecurity defenses than ever. The average total cost of data breaches has increased from $3.86 million in 2020 to $4.24 million. This coincided with 10.7 times more ransomware activity in the last year. Insurance providers have recognized the increased risk of cyber-attacks and now require additional protections […]

McGowanPro accounting firm M&A

Everything you need to know for an accounting firm M&A

Upward mergers are happening at record levels in the accounting industry. Mergers & Acquisitions (M&A) are an excellent way to reduce competition and make both parties more competitive in the already saturated accounting market. However, every accounting firm M&A is different, and you need to know how you can best prepare as either a buyer […]

McGowanPro Russian cyber threats

Russian cyber threats: Is your business at risk?

One in three businesses and one in four charities are regularly experiencing Russian cyberattacks since the start of the Ukrainian conflict. In fact, Russian cyber threats are on the rise across the globe. Businesses are unsure when breaches will slow or stop with no end in sight for the conflict between Russia and Ukraine. Companies […]

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