As an accounting firm in Calgary, the security of your clients’ sensitive financial information is more important than ever. With cyber threats escalating, particularly against the accounting sector, it’s more critical than ever for Calgary firms to take proactive steps in safeguarding client data.
A single data breach can not only damage your reputation but also violate trust and lead to costly consequences.
In this guide, we’ll walk you through the key cybersecurity practices every accounting firm should implement to protect client data, meet regulatory requirements, and ensure long-term security.
Keep reading to learn how to fortify your firm against the growing cyber risks facing accountants in Calgary.
Why Accounting Firms Are Prime Targets for Cybercriminals
Calgary accounting firms are highly attractive targets for cybercriminals because they handle sensitive financial data, including tax returns, financial statements, SIN numbers, and banking details.
In fact, data reveals that roughly 12 billion cyberattacks targeted Canadian businesses in the first six months of 2025. For accounting firms, this underscores the need for robust data security in the accounting industry, where even small firms can be at risk.
Step 1: Implement Multi-Factor Authentication (MFA) Across All Systems
MFA is one of the most straightforward yet effective ways to secure access to sensitive data. By requiring more than just a password – such as a text message or authentication app – you add an additional layer of security.
Implementing MFA on all client portals, accounting software, and internal systems helps ensure that only authorized personnel can access sensitive financial data.
Step 2: Encrypt Data in Transit and at Rest, Especially When Sharing Files with Clients
Encryption is critical in safeguarding sensitive data at all times. Whether you’re sending financial statements via email or storing tax returns on your network, encrypted data is far more difficult for cybercriminals to access and misuse.
Make sure that all client data is encrypted both in transit (while being sent to clients or external systems) and at rest (while stored in your firm’s database or cloud services).
Step 3: Establish Clear Access Controls So Only Authorized Staff Can View Sensitive Client Files
Not every employee needs access to all client files. Establishing strict access controls ensures that only those who require access to sensitive information can view it.
Implement role-based access control (RBAC) to limit access to client files based on job responsibilities. Regularly audit access logs to ensure compliance with these policies and detect any unauthorized access attempts.
Step 4: Train Staff on Phishing Recognition Specific to Accounting Scenarios
As one of the most common forms of cyberattack, phishing is often used by cybercriminals to infiltrate accounting firms via fake emails from the Canada Revenue Agency (CRA) or impersonations of clients asking for financial data.
To prevent this, regularly train your staff to recognize these types of scams, and make sure they know how to verify suspicious emails before taking any action.
Step 5: Regular Backup Procedures with Secure Offsite Storage
Regular data backups are crucial to protect against cyberattacks or accidental data loss. Implement consistent backup procedures for client data and ensure these backups are securely stored offsite.
Cloud-based solutions or secure Canadian data centres ensure your backups remain safe and easily accessible when needed, aligning with local regulatory requirements.
Step 6: Maintain an Audit Trail of Who Accessed What Client Data and When
Maintaining an audit trail is essential for accountability and regulatory compliance. Ensure your firm tracks who accesses client data, what information is accessed, and when.
This enables you to detect suspicious activity, comply with data protection regulations, and provide transparency during audits.
How These Practices Align with Professional Standards and Client Expectations
By following these key steps, accounting firms ensure compliance with industry regulations and cybersecurity best practices and meet the expectations of clients.
Clients expect their accountants to take every precaution to protect their sensitive financial information. By implementing strong data security practices, Calgary businesses can build trust and demonstrate that client confidentiality is a top priority.
The Peace of Mind that Comes from Knowing Client Data is Properly Protected
As you take steps to secure your firm’s systems, it’s important to remember the peace of mind that comes from knowing client data is protected.
Effective cybersecurity measures not only protect your firm from data breaches but also help you avoid costly fines and reputational damage. With a solid cybersecurity strategy, you can focus on serving your clients and growing your business without disruption.
How Evolution IT Supports Calgary Accounting Firms
At Evolution IT, we understand the specific cybersecurity needs of Calgary accounting firms. That’s why our tailored IT services are designed to protect your firm’s sensitive data while helping you maintain compliance with industry standards.
We offer a full range of services, including multi-factor authentication setup, employee training, and regular data backups, all aimed at safeguarding your client data.
Is Your Accounting Firm’s Data Security Up to the Standard Your Clients Expect?
Book a complimentary security review with our team to assess your current setup and identify areas for improvement.
No sales pitch – just expert guidance tailored to your firm’s unique needs.
FAQs
- Why is cybersecurity for accountants so important?
Cybersecurity is crucial for accountants because they handle sensitive financial information such as tax returns, bank details, and personal identification numbers (SIN). A breach can lead to significant financial and reputational damage. - What are some common cybersecurity risks for accounting firms?
Common risks include phishing attacks, ransomware, data breaches, and insider threats. Accounting firms must take proactive steps to protect client data and meet regulatory requirements. - How can I protect client data while working remotely?
Implementing secure remote access solutions, encrypting data, and ensuring that staff are trained to recognize phishing emails can protect client data while working remotely. - What cybersecurity standards should my accounting firm meet?
Your firm should adhere to industry regulations, including those set by the Canadian government, as well as best practices like multi-factor authentication, data encryption, and secure file storage. - How can Evolution IT help with cybersecurity for Calgary accounting firms?
We offer tailored IT solutions for accounting firms, including multi-factor authentication, data encryption, staff training, and secure backup services to ensure that your client data is always protected.
Frequently Asked Questions
What are managed IT services for accounting firms?
Managed IT services provide ongoing support, monitoring, security, and maintenance, allowing accounting firms to rely on stable systems without managing IT internally.
Why do accounting firms need specialized IT support?
Accounting firms handle sensitive financial and personal data and must meet strict compliance standards. An IT partner experienced with accounting firms understands these risks and requirements.
How do managed IT services reduce downtime?
Through proactive monitoring, preventative maintenance, and rapid response to issues before they escalate into major disruptions.
Can managed IT services support remote and hybrid work?
Yes, secure access, cloud tools, and monitored devices allow staff and partners to work safely from anywhere without increasing risk.
Are managed IT services suitable for mid-sized firms?
Absolutely. Firms of all sizes benefit from predictable costs, improved cybersecurity, and access to expert support without building a full internal IT team.