The No-Headache Way to Create a Written Information Security Plan (WISP)

If you’re a CPA firm, financial professional, or any SMB that handles sensitive client data, creating a Written Information Security Plan (WISP) is not optional. It’s a critical part of staying compliant with federal and state regulations and protecting your clients’ trust. But if the idea of drafting one sounds overwhelming, you’re not alone.

First of all, what is a WISP and why do you need one?

A WISP is a formal document that outlines how your business safeguards sensitive data, including personal information, tax records, payroll data, or anything that could be used for identity theft or fraud.

Key Reasons You Need a WISP:

• Compliance - Regulations like the FTC Safeguards Rule, GLBA, and California’s data privacy laws require a WISP for many businesses.
• Risk Reduction - It forces you to identify vulnerabilities before a breach happens.
• Client Confidence - Client’s trust businesses that take data security seriously.
• Incident Response Readiness - A WISP outlines who does what if something goes wrong.

Step 1: Identify What Data You’re Protecting (and the People in Charge of Protecting It)

Start with the following:

• Identify your Data Security Coordinator (DSC) and Public Information Officer (PIO), they will oversee your WISP implementation.
• What types of sensitive data do you collect? (Tax records, SSNs, bank info, etc.)
• Where is it stored? (Local servers, cloud services, employee laptops?)
• Who has access to it? (Employees, contractors, vendors?)

Step 2: Assess the Risks

Once you know what you’re protecting and who is overseeing that protection, identify how that data could be compromised. Common risks include:

• Phishing attacks or social engineering
• Ransomware or malware infections
• Lost or stolen devices
• Weak or shared passwords
• Unpatched software

Step 3: Define Your Security Policies

This is the “meat” of the WISP. Your plan should spell out:

• Access controls - Who can access what data and how access is granted/revoked.
• Password & MFA (Multi-Factor Authentication) requirements - Strong password policies, multi-factor authentication required for all users.
• Data encryption - For data at rest and in transit.
• Remote work & BYOD (Bring Your Own Device) policies - How employees can safely access company resources offsite.
• Backup & recovery - How often backups are performed, where they are stored, and who can restore them.
• Vendor management - How you vet third-party providers who handle your data.

Step 4: Train Your Team

Even the best WISP fails if your employees aren’t on board. Run regular cybersecurity training on:

• Phishing recognition
• Safe password habits
• Proper handling of client data
• Reporting suspicious activity

When employees understand the “why” behind security, they become your strongest defense. This will also help you update and implement your Employee Code of Conduct (a necessary WISP component).

Step 5: Test, Monitor, and Update Regularly

A WISP is not a “set it and forget it” document.

• Schedule annual reviews (or more often if you experience major changes like a cyber incident or new regulations).
• Perform exercises to test your incident response plan.
• Keep policies up to date with evolving threats.

How We Can Help

We know your priority is running your business, not getting buried in compliance paperwork. Here’s how we make WISP implementation painless:

• Customized WISP Templates - No generic documents, we tailor them to your industry and size.
• Ongoing Monitoring & Support - Continuous protection, so your WISP stays relevant.
• Employee Training & Simulated Phishing - Build a security-aware culture and ensure compliance across the board (and document these goals in your Employee Code of Conduct).

Building a WISP doesn’t have to be stressful or time-consuming, especially with a trusted partner like Valley Techlogic. Learn more today with our step-by-step roadmap on WISP preparedness here and book a free WISP consultation.

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