Accounting Firms: Managing Client Document Security Year-Round

The Weight of Client Financial Data

Accounting firms are trusted with the complete financial picture of their clients. From tax returns to business accounts, this information could cause significant harm if it fell into the wrong hands.

What Accounting Firms Hold

Typical client files contain:

Personal Tax Returns

• Complete income details
• Investment information
• Property ownership
• Medicare and health data

Business Records

• Bank statements
• Supplier information
• Employee payroll data
• Strategic financial plans

Supporting Documents

• Photo ID copies
• Bank account details
• Share certificates
• Loan documents

Security Throughout the Year

Document security isn't just a tax-time concern:

Secure Receipt

• Encrypted file uploads
• Locked drop boxes
• ID verification for couriers

Secure Storage

• Locked filing systems
• Limited staff access
• Digital encryption
• Clean desk policies

Secure Return

• Tracked delivery
• Client signature required
• No documents left unattended

Client Document Destruction

Questions every firm should answer:

• When can client documents be destroyed?
• Do we have client authority?
• What copies do we retain?
• How long do we keep copies?

Building a Destruction Program

1. Annual Review - Schedule yearly document audits 2. Retention Policy - Clear guidelines for each document type 3. Client Communication - Advise clients of destruction schedules 4. Secure Provider - Partner with NAID certified shredder 5. Certificates - Maintain destruction records

The Cost of Poor Security

Data breaches at accounting firms can result in:

• Professional conduct investigations
• Loss of CPA membership
• Client lawsuits
• Regulatory penalties
• Practice closure

WEST SHRED provides year-round document security for accounting practices, with flexible collection schedules that increase during busy season.