{"id":225614,"date":"2023-10-24T18:00:29","date_gmt":"2023-10-24T18:00:29","guid":{"rendered":"https:\/\/www.markperlbergcpa.com\/cyber-network-security\/"},"modified":"2023-10-24T18:00:29","modified_gmt":"2023-10-24T18:00:29","slug":"cyber-network-security","status":"publish","type":"post","link":"https:\/\/prosperlcpa.com\/blog\/2023\/10\/cyber-network-security\/","title":{"rendered":"cyber network security"},"content":{"rendered":"
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I\u2019m continuing to avidly watch, as I\u2019m sure you are too, the unfolding events in Gaza. Though Biden issued a back-channel warning to Iran about not joining in the conflict, the possibility of a larger scale war looms. Economically, that affects gas prices and other factors of the global economy. Then there\u2019s the national budget deadline and the Congress\u2019s gridlock over finalizing it. <\/span><\/p>\n

It\u2019s more important than ever to keep your Atlanta business doings sharp right now.<\/span><\/p>\n

I\u2019ll be here to keep you informed on how bigger happenings will affect your business\u2026 and to help you thrive through it. <\/span><\/p>\n

All of these headlines probably dominated your attention, and rightfully so, but there\u2019s something else happening in October to give attention to: Cybersecurity Awareness Month. That might make your stomach twist, thinking through all you need to be prepared for within a budget<\/u>. It can be daunting to know where to allocate funds for a pressing need that is so frequently changing and developing.<\/span><\/p>\n

Because my office handles so much sensitive data, you better believe this is something we monitor and update systematically. <\/span><\/p>\n

Business spending for cyber network security is up 70 percent over the past four years, though that number has started trending downward and recent security company layoffs confirm this.<\/span><\/p>\n

But recently issued SEC rules regarding the reporting of data breaches by public companies (more on that shortly) reemphasizes the importance of regularly addressing our own cyber network security measures as business owners.<\/span><\/p>\n

So let\u2019s talk about budget building for your cyber network security plan. <\/span><\/p>\n

Prioritizing Cyber Network Security in Your Atlanta Business<\/strong><\/span>
\u201cThe best investment you can make is in yourself.\u201d \u2015 Warren Buffett<\/i><\/span><\/p>\n

There are <\/span>new rules from the SEC<\/span><\/a> regarding the reporting of data security breaches that go into effect December 15, 2023. While those rules primarily target public companies, small and private companies should know what\u2019s being required as they review their own cyber network security measures, especially since <\/span>the SEC has shown a willingness to extend its regulatory reach to private companies when it comes to cybersecurity.<\/span><\/p>\n

Basically, companies need to assume that they might face real cyber network security threats and breaches. And when they do, they have to tell the SEC about it within four business days if it’s a significant incident. Plus, U.S.-listed companies also have to share information about how they handle cybersecurity in their yearly reports.<\/span><\/p>\n

With all of this in mind, let\u2019s discuss how to build a cyber network security budget<\/span><\/span> for your Fulton County business<\/span><\/span>.<\/span><\/p>\n

Making a budget<\/strong><\/span><\/p>\n

When building (or assessing) a budget, know that there are three basic areas that drive the needle: software and hardware, ongoing security services, and in-house training for employees.<\/span><\/p>\n

Of course you want top-notch protection for all your important stuff, but the reality is that you probably can’t afford it all. This is why budget planning is so crucial \u2013 it decides how much you can spend and where you should spend it.<\/span><\/p>\n

Here’s a simple exercise: First, make a list of all your important assets. Then, think about how vulnerable each of them is to potential threats. In other words, figure out which assets are more likely to be a security risk.<\/span><\/p>\n

Assets that are both high-risk and critical to business operations should get the lion’s share of your cyber network security budget. On the flip side, if something is low-risk and not that critical, you can allocate less money to protect it because the chance of a cyberattack is lower there.<\/span><\/p>\n

And don\u2019t forget a line item for incident response and recovery.<\/span><\/p>\n

Factoring actual costs<\/strong><\/span><\/p>\n

Cybersecurity costs can vary a lot, and here’s why:<\/span><\/p>\n