New York (June 5, 2003) -- The American Institute of CPAs has issued a proposed Privacy Framework for public review and comment. The Privacy Framework, developed jointly with the Canadian Institute of Chartered Accountants, provides criteria and related material for protecting the privacy of personal information and can be used by CPAs in the United States and by chartered accountants in Canada.
"Effective privacy practices play an important role in corporate governance responsibilities," said AICPA vice president Anthony Pugliese. "As vast amounts of personal information are collected by increasingly complex, sophisticated systems, personal information may be exposed to a variety of vulnerabilities, including loss and misuse. The proposed AICPA/CICA Privacy Framework helps companies apply a common standard or benchmark for their privacy practices."
"Good privacy practices make good business sense to enhance and differentiate brands, build customer confidence, and reassure business partners that sensitive information is managed effectively," added Bruce Josten, Executive Vice-President, U.S. Chamber of Commerce. "The AICPA/CICA Privacy Framework is an excellent source of germane benchmarks, what those standards mean in practice, and how to measure success."
The draft framework can be viewed at www.aicpa.org, with comments due no later than August 31, 2003.
-- WebCPA staff
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