Pace University, ACCA USA, to Train Finance Professionals to Stymie Cyberattacks this Summer

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ACCA USA (the Association of Chartered Certified Accountants), the global body for professional accountants, and the Seidenberg School of Computer Science and Information Systems at Pace University in New York, a National Security Agency and Department of Homeland Security-certified Center of Academic Excellence in Information Assurance Education, today unveiled their first-ever cyberdefense course.

The course—which will be held on August 4 at Pace in Lower Manhattan—will provide professional development credits to accountants and other finance industry professionals. It was designed in the wake of an increasing pattern of cyberattacks that have struck private and public entities here in the United States and abroad.

“ACCA understands the challenges that accountants face and is determined to provide them with the necessary knowledge and training to address these cyber-challenges. Accountants and finance professionals are on the frontlines of this cyberbattle, and need to be armed with the latest information,” said Warner Johnston, Head of ACCA USA. “We are proud to collaborate with Pace University on this timely and crucial course, and expect that enrollees will leave better equipped to prevent and address cyberattacks.”

“The threat from cybercrime and hackers has only increased over time” said Jonathan Hill, Dean of the Seidenberg School of Computer Science and Information Systems at Pace University. “The ACCA has been a particularly adept partner in educating financial professionals and the at-risk accounting and CPA professional communities on coping with these threats. This program is specifically designed for these financial professionals to build awareness and tools to protect themselves, their firms and their clients from the ravages of cybercrime.”

The course—Foundations of Cyber Defense for Accounting—will include content on: information security law; effective incident response; risk management, including security metrics; encryption and best practices for protecting data; and, building an insider threat program.

Anyone interested in enrolling should visit https://www.eventbrite.com/e/best-practices-in-cybersecurity-for-professional-accountants-tickets-35677991834, or click here. Inquiries can be directed to DJ McErlean-Hopson at acca.usa@accaglobal.com.

ACCA and Pace planned the course amid a troubling global crisis: cybercrime. The financial hit on business can be troubling: An IBM report last year found the cost of a breach rose to $4 million per incident. Earlier this year, Home Depot agreed to pay more than $27 million to financial institutions affected by its 2014 data breach, and court documents reportedly identified the total cost to Home Depot at $179 million.

In February 2016, ACCA reported that cybercrime was growing too dangerous and powerful to ignore, and a head-in-the-sand attitude to this once nascent, now pervasive threat was no longer an option. In the report, “Cybersecurity – Fighting Crime’s Enfant Terrible”, ACCA and IMA® (Institute of Management Accountants) reported that the theft of financial assets through cyber-intrusions was the second largest source of direct loss from cybercrime.

Several months earlier, ACCA issued a report, “Cyberwarriors with Calculators”, in partnership with Pace University, revealing that top-level managers in the finance industry are adapting to address cybercrime threats. The survey of ACCA professionals, including Chief Financial Officers, Managing Directors, Senior Vice Presidents and practicing accountants, found weak communication between line managers and senior managers about attacks and attempted attacks, and that the application of fundamental risk management cybersecurity practices should be applied more consistently throughout firms.

In another report, ACCA and Pace also delved more deeply into the growing number of incidents involving skimming devices, which rip off consumers at gas pumps and ATMs. A skimmer is an electronic device used to read and store electronic data. The new research focused on devices that read and recorded data from consumer payment cards, such as ATM, credit, debit, prepaid and electronic gift cards.

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. We support our 188,000 members and 480,000 students in 181 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. We work through a network of 95 offices and centres and more than 7,110 Approved Employers worldwide, who provide high standards of employee learning and development. Through our public interest remit, we promote appropriate regulation of accounting and conduct relevant research to ensure accountancy continues to grow in reputation and influence. www.accaglobal.com

About Pace University: Since 1906, Pace has educated thinking professionals by providing high quality education for the professions on a firm base of liberal learning amid the advantages of the New York metropolitan area. A private university, Pace has campuses in Lower Manhattan and Westchester County, NY, enrolling nearly 13,000 students in bachelor’s, master’s, and doctoral programs in its Lubin School of Business, Dyson College of Arts and Sciences, College of Health Professions, School of Education, Elisabeth Haub School of Law, and Seidenberg School of Computer Science and Information Systems. A 2017 study by the Equality of Opportunity Project finds that Pace graduates are out-earning their parents and peers, bucking a nationwide trend for millennials. www.pace.edu

About the Seidenberg School of Computer Science and Information Systems at Pace University

Since 1906, Pace has educated thinking professionals by providing high quality education for the professions on a firm base of liberal learning amid the advantages of the New York metropolitan area. The Seidenberg School of Computer Science and Information Systems at Pace University prepares men and women for professional work, research, and lifelong participation in a new and dynamic information age.  Located in the financial capital of the world, the Seidenberg School offers a wide variety of courses and exposure to internships and work with leading corporations, banks, federal agencies, and global entities.  Degrees and certificates are conveniently available on Pace’s campuses in New York City and Westchester County as well as online and in special programs. http://www.pace.edu/seidenberg/

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