Cyber attacks

A recent report from estimates that if the internet were shut down entirely around the world for one day, it would cost the global economy about $43 billion.

Neither the IRS nor Congress has specifically addressed the tax deductibility of ransomware payments made to hackers, nor has FASB.

The service wants practitioners, particularly in smaller tax practices, to use a new template to create a data security plan.

Internal audit has become a necessary line of defense in organizational management of these risks

Cyber-defenses; Tax Gap inaccuracy; a new retirement age; and other highlights from our favorite tax bloggers.

This month in our inaugural Cybersecurity Roundup, we find that the results of a cyber incident can take time to make themselves known.

Phishing scams, ransomware attacks, data breaches, insider threats and regulatory noncompliance are all risks that firms must urgently track and prepare to mitigate.

Researchers used ChatGPT, an artificial intelligence-driven text generator, to create a new strain of malware capable of bypassing traditional controls.

Accounting practices that are not already taking cybersecurity seriously need to make it a top priority now.

Data indicates that over 5 million people have had malware steal their personal information and put up for sale for scammers.