As Accountancy Europe has announced in its latest Newsletter, new EU data protection rules will enter into force on 25 May 2018 and will apply to everyone dealing with personal data information, whether this is stored online or on paper. Professional accountants are directly impacted by these requirements as they deal with collecting, storing and processing personal data in relation to their clients, employees, and subcontractors. These data protection requirements need to be considered seriously as fines could go up to tens of millions of Euro.
In order to help accountants understand how the new legislation impacts their work Accountancy Europe has developed a factsheet that explains the legislative changes and provides examples of what these mean in practice: to inform clients on their data rights, ensure proper cyber-security, better and timely reaction to data breaches.
To download the paper prepared by Accountancy Europe, click here.
