Tag Archives: AICPA

Minimizing Litigation Risk: What Cybersecurity Auditors Can Learn From Their Financial Statement Auditor Analogues

Data breaches – always critically important to those with responsibility for storing, transporting and protecting electronic information – have become an all-consuming topic of late. Stories about data theft dominate political headlines, boardroom discussions, and family meetings around the dinner table. They, of course, have also been the subject of government investigations and private litigation.

The current environment is not unlike other moments in our recent past that seemed to have captured the attention of Wall Street,… More

FTC Delays Enforcement of Red Flags Rule Against Doctors & Hospitals Until Appeals Court Rules

On June 25, 2010, federal district court judge Reggie B. Walton of the United States District Court for the District of Columbia entered a stipulated court order (.pdf) directing the Federal Trade Commission (FTC) to delay enforcement of the FTC’s Red Flags Rule against doctors and medical practices represented by the American Medical Association (AMA) and American Osteopathic Association. The FTC and AMA agreed to this delay in a Joint Stipulation (.pdf),… More

Doctors and Other Health Care Professionals Challenge Application of FTC Red Flags Rule

The FTC Red Flags Rule faces another likely challenge, based on a January 27, 2010 letter sent to the FTC by the American Medical Association, the American Osteopathic Association, the American Dental Association, and the American Veterinary Medical Association. In that letter, the four health care organizations requested that the Red Flags Rule not be applied to health care professionals (based on the reasoning of the recent court decision that it does not apply to lawyers). I assume that if the FTC rejects this request,… More

Accountants Ask Court To Exempt Them From Red Flags Rules

Last week the American Institute of Certified Public Accountants (AICPA) filed papers seeking summary judgment in the lawsuit filed against the Federal Trade Commission (FTC) to exempt accountants from the FTC’s Red Flags Rules. We first posted on this case in November, when the AICPA filed a complaint asking the federal court in Washington, D.C. to declare that accountants are not subject to the Red Flags Rules. … More

American Institute of Certified Public Accountants Sues FTC to Stop Application of Red Flags Rules to Accountants

Following the lead of the American Bar Association (ABA), on November 10, 2009, the American Institute of Certified Public Accountants (AICPA) has filed suit in the U.S. District Court for the District of Columbia, asking the Court to rule that the Federal Trade Commission’s (FTC) Red Flags Rule may not be applied to accountants.