Cybersecurity Assurance Program by the U.S.Accounting Firms and its Implications: Focusing on the AICPA SOC Assurance Programs

Abstract

This study introduces the cybersecurity assurance programs of the AICPA and other organizations outside Korea, and provides implications of implementing these cybersecurity assurance programs by accounting firms in Korea. Recently, cybersecurity incidents are increasing. The AICPA launched the SOC (System Organization Control) assurance programs in order to deal with the market demand. AICPA (2021a) reveals its survey result, saying that the demand of the SOC program has increased by 49% between 2018 and 2020. This paper provides the implementation cases of the AICPA SOC assurance programs. This study argues that implementation of cybersecurity assurance programs will play a pivotal role in enhancing the security level of the organizations. The cybersecurity assurance can be used when the insurance company decides the level of cyber－insurance fees. In addition, it can be used as the key legal ground by the management when the management is faced with the cyber－breach litigation in the court. This paper also suggests that the KICPA (the Korean Institute of Certified Public Accountants) should facilitate the implementation of the cybersecurity assurance program by accountants.