The Bottom Line - Autumn 2016

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T O P I C A L I N F O R M A T I O N F R O M M A G E E G A M M O N
Email: Website:
Henwood House, Henwood, Ashford, Kent TN24 8DH Phone: 01233 630000
Principals: Jon Gammon, Antony Tutt, Mark Britland, Abhi Jain, Roland Parry, Andy Childs
Managers: David Brookes, Julie Devine, Linda Hayward, Peter Horton, Barry Spokes
Magee Gammon is a trading style of Magee Gammon Partnership LLP and Magee Gammon Corporate Limited.
Registered to carry on audit work in the UK and Ireland, and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.
Cyber threats: protecting your business from internet attacks
The way the internet has permeated every aspect of business has brought significant opportunities and efficiencies,
but it has also brought risks. Here are some of the key ways that you can protect your business against cyber threats...
A recent Government survey found that a quarter of all businesses
detected at least one cyber security breach in the last 12 months,
the most common being viruses, spyware or malware (68%), and
breaches involving impersonation of the organisation (32%). The
average estimated cost was £3,480 per breach, but in some cases
an attack can be disastrous.
Cyber essentials
To help businesses protect themselves from common internet
based threats, the Government has developed the industry-backed
scheme ‘Cyber Essentials’. Guidance aimed at small businesses
recommends two initial ways that firms should tackle cyber security:
getting the basics right, and adopting a risk management approach.
Cyber security: the basics
As an initial step, make sure you implement these simple
protections and behaviours:
1 Download software updates – Download software and app
updates as soon as they appear on your devices and computers.
2 Use stronger passwords – One tip for creating a strong
password is to combine three random words to create a
password that is both memorable and hard to guess (e.g.
‘greenstarbulb’), as well as mixing upper and lower case letters,
numbers and symbols.
3 Always delete suspicious emails – If in doubt, just
delete unusual or suspicious emails, particularly requests for
information or messages asking you to click on a link.
4 Use anti-virus software – Make sure you install anti-virus
software on all your devices, including mobiles, and keep it
up-to-date.
5 Train your staff – Provide full information for your staff
regarding cyber security threats and how to deal with them.
A risk management approach
The risk management approach to cyber security comprises four
key steps:
1 Understanding the risks – Consider what is at stake if you
suffer a breach: money and IT equipment, information (from
client details to trade secrets), and even your reputation.
Think also about who poses the risk – malicious hackers and
criminals, but also accidental security failures by employees
– and about what forms a breach could take, whether it be
malware sent by email or the physical loss of a laptop. What
could be the potential damage to your business?
2 Planning – Ask questions such as: which information assets are
critical to your business and what risks could they be exposed
to? How could you continue to operate if your systems were
attacked? What legal and compliance obligations does your
business have?
3 Implementing – This involves putting in place security
controls to protect your equipment, information, IT systems
and outsourced IT services, and explaining responsibilities and
best practice to staff.
4 Reviewing – Create processes for routinely reviewing the
effectiveness of your controls and keeping up-to-date with
information about the latest threats.
Further information about helping to guard your business
against cyber threats is available on the Cyber Essentials website:
Technology has become an
indispensable tool in today’s business
world, and taking the appropriate
action will help to safeguard your
business now and in the future.
Autumn 2016
inside this issue…
u u Spotlight on capital gains tax
u u Understanding the new
apprenticeship levy
u u Are you sitting comfortably?
Managing well-being in the workplace
u u Business Round-Up
u u Web Watch
u u Reminders for your Autumn Diary