The LGPD (General Data Protection Law) is a regulation that aims to ensure the confidentiality and reliability of personal information, applicable to a wide variety of market services. Therefore, impact of the LGPD It was particularly significant for companies that operate with customer data.

In effect since September 2020, the LGPD (Brazilian General Data Protection Law) arose from concerns about the use of personal information, including within the accounting sector. 

After all, numerous accounting services They require confidential customer data in order to conduct a complete assessment of their financial situation.

For this reason, accounting firms will have to adapt to the new rules, not only regarding client data, but also that of their employees.

In today's article, learn more about the impact of the LGPD (Brazilian General Data Protection Law) on accounting firms and discover some tips on how to adapt to the regulation.

What are the impacts of the LGPD (Brazilian General Data Protection Law) on accounting firms?

According to the LGPD (Brazilian General Data Protection Law), "personal data" is considered to be any information relating to an identified or identifiable natural person, including:

• Name;
• Address;
• Date of birth;
• Racial origin;
• Political opinion;
• Genetic information;
• Among others.

Also included in this list is information relating to digital data, such as emails, IP addresses, location data, and identifiers. Cookies.

The main objective of the LGPD (Brazilian General Data Protection Law) is to update data security standards, ensuring that all Brazilian citizens are protected against privacy violations or having their information used for illegal activities.

In this sense, the legislation applies to all activities that collect and store data, both in physical and digital form. 

In the case of accounting firmsThe services handle various types of personal data, as this information is essential for verifying customers' financial status.

For this reason, the LGPD (Brazilian General Data Protection Law) requires the presence of internal mechanisms and control systems in accounting firms, as a way to guarantee the proper processing of data.

Furthermore, it will also be necessary to generate documentary evidence to prove that the installed systems are functioning for internal and external audits. In other words, it will be necessary to follow the... political data protection and ensure training for all employees.

In fact, there may be a need for outsourced labor for technology solutions applied to data systems, especially if the accounting firm does not have any employees in that field.

Therefore, with the LGPD (Brazilian General Data Protection Law), accounting firms must have efficient security systems in place before processing any data. It is necessary to prove the client's consent for the retention, recording, and use of personal information.

To aid in this process, ISO 27001 certification can help standardize accounting services and ensure data security. However, it also... Adapting is essential. various activities within the sector.

How can accounting firms adapt to the LGPD (Brazilian General Data Protection Law)?

There are several procedures that can help accounting firms adapt to the LGPD (Brazilian General Data Protection Law). Some of them are:

Process analysis

The first step in adapting services to the law is to analyze the company's processes. This way, it's possible to identify what needs to be changed in each department.

In other words, the recommendation is to conduct a diagnostic assessment of each workflow, especially with teams that work directly with personal data. This will allow for an evaluation regarding information privacy.

For example, professionals who deal directly with the preparation of financial solutions for businesses They often have personal data about the owners in their possession. Therefore, it is a department that requires analysis of the processes.

It's important to check a few specific points, including:

• The location where the information is stored;
• The method of classifying and organizing the data;
• The presence or absence of a professional responsible for the information;
• Whether or not an investment in security systems is necessary.

It is also necessary to verify the work steps in specific areas, such as the specialized IT accountingwhich also handles some personal data of customers and company employees.

Team training

It is essential that all employees are properly familiarized in accordance with the requirements of the General Data Protection Law, especially regarding information collected on the internet.

This requires going beyond news about the legislation, but conducting comprehensive training on the standard, to ensure that all employees know how to handle the necessary changes in their work experiences.

In this way, it is possible to avoid misunderstandings and failures, ensuring that the entire team is aligned with the new production processes and data collection methods.

With this, a service of tax consultancy It will be carried out much more efficiently and, best of all, while guaranteeing the protection of customers' personal information.

Furthermore, training can increase employees' awareness of the LGPD's (Brazilian General Data Protection Law) regulations and sanctions, helping the team to resolve any doubts and questions about the new work methods.

This allows services to be adapted in the best possible way, ensuring that all procedures are carried out in accordance with the standard.

Organization and mapping of data

The LGPD requires companies to have an efficient organization and data mappingIn this way, it is possible to identify errors, and it is also easier to analyze the changes needed to adapt to the law.

Therefore, after diagnosing the process and conducting training with employees, accounting firms should organize all personal information stored in their systems and adopt the necessary measures for data security.

Here it is important to define the responsibleIn other words, the teams and employees responsible for maintaining the requirements of the processes according to the LGPD (Brazilian General Data Protection Law).

Employees should know what to do in the event of a security breach, as well as establish a standard for recording information. 

Furthermore, they must communicate frequently with controllers, data subjects, and with the ANPD (National Data Protection Authority).

It is worth noting that non-compliance with the law can cause many problems, including company closure.

Application of technological tools

One of the main changes required to comply with the LGPD (Brazilian General Data Protection Law) is the implementation of technological systems and tools in accounting firms. In other words, many firms will have to invest in innovation to meet the requirements of the law.

One example is the use of cloud storage technology, which ensures greater security and control over information.

With this tool, data can be easily accessed, and it's also possible to define access and sharing levels, releasing information only to duly authorized individuals.

In this way, greater data protection is ensured. Furthermore, the accounting firm itself is viewed with greater credibility and professionalism by the public.

After all, a customer doesn't want their information to be shared with the... simple company setup whether they are leaked or can be accessed by malicious individuals.

More transparent communication

In addition to protecting data registration and storage systems, the LGPD (Brazilian General Data Protection Law) also requires clearer and more transparent communication with customers. This leads to greater security in all processes.

One of the legal requirements is to obtain customer consent for the collection of information. 

Therefore, it is important for the accounting firm to define a code of conduct, informing the public about data privacy issues and the procedures to be followed in the event of a security breach.

This adaptation is essential for aligning services with the client, as well as facilitating understanding of the team's new demands. In the long term, transparent communication will have a noticeable effect on your company's credibility.

Process monitoring

Finally, accounting firms should conduct frequent monitoring of data handling and work processes that deal with the personal information of clients, as well as employees.

The recommendation is to develop a privacy program to ensure that all requirements of the LGPD (Brazilian General Data Protection Law) are met. 

Conclusion

Since the LGPD (Brazilian General Data Protection Law) came into effect, several companies have had to modify their workflow to ensure greater reliability and security in handling information. This is the case for accounting firms.

Today's article aimed to provide some tips on how to adapt your business to the law, reinforcing that the impacts of the regulation on work processes are intended to improve data security and generate greater trust among customers.

It is important for firms to adapt as soon as possible, in order to avoid the sanctions or penalties imposed by the regulation.

This text was originally developed by the blog team Investment Guide, where you can find hundreds of informative content about various segments.