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On Compliance podcast - What next after GDPR?

31st May 2018
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What next after GDPR?

Delivered from the buzzing walkways of Accountex, AccountingWEB’s latest compliance podcast for accountants features employment law expert Annabel Kaye and practice owner Matt Portt. Together, they offer their perspectives on what the GDPR regulation means to accountants post-25 May.

Never before have we as individuals seen such a flurry of emails in our inboxes, something which Annabel suggests was not the intended interpretation of the law after all. Although many accountancy firms will have completed the necessary tasks prior to 25 May, the law expert suggests it’s important to ‘keep an eye on what’s happening, because the ink’s fairly dry’.

Matt Portt represents accountancy practice owners and reflects on his preparation ahead of the new regulation: ‘it’s been a challenge; the client education has been difficult, but we started a long time ago’. He highlights the scope of the project reaches far beyond that of Portt & Co’s use of individual’s data:

“We’ve had to ensure that our sub-contractors (so the tech companies that we provide the data to) are compliant – we’ve had to react to that a little bit to a certain extent”.

But what will GDPR mean to accountants as we move beyond the 25 May? There may not be a crystal ball for how it will affect the industry, but Annabel suggests that ignorance and non-compliance will lead to investigation, if enough people report you to the ICO as a ‘spammer’. Matt ends with his advice to be thorough when it comes to using new suppliers – especially if those suppliers hold data outside the UK.

Hear the podcast and read this blog in full over on our website. Want to receive automatic email alerts for new podcasts? Subscribe to the On Compliance podcast.

If you would like more information on how the regulation impacts the industry, download the free GDPR toolkit for accountants. You can also read Ian Cooper's blog 10 key facts every accountant should know about GDPR.

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