Lesson: Data Controls and Data Management

In this lesson, Nick Palazzolo, CPA, delves into the critical aspects of data controls and data management in a business environment. He outlines a clear roadmap for securely managing confidential data throughout its entire lifecycle—from collection and processing to storage and eventual deletion. Nick emphasizes the importance of collecting only the necessary data to minimize liability and implementing robust controls like encryption, access restrictions, and secure data transfer protocols. Further, he stresses the need for explicit consent and transparency when collecting data, along with setting up stringent data retention and deletion policies to comply with privacy regulations. Through practical examples and engaging explanations, Nick ensures that all bases are covered in creating a secure data management system that upholds both integrity and confidentiality.