The Federal Trade Commission (FTC) Safeguards Act marks a pivotal shift in regulatory norms affecting numerous sectors, with the accounting and taxation industry facing unique challenges and opportunities. As data breaches become more frequent and severe, robust data security practices have never been more critical. For tax and accounting professionals, this isn’t just another regulatory hurdle- it’s a defining moment that separates forward-thinking firms from those risking obsolescence. With average breach costs reaching $4.2 million and 87% of clients willing to leave after a security incident, the stakes extend far beyond compliance checkboxes.