Preparing for the Storm: CPAs Offer Planning, Recovery Tips for Consumers, Businesses

October 26, 2012

New York (October 26, 2012) – No matter what you call it – hurricane, snowstorm or Frankenstorm – the weather system heading for the East Coast has the potential to cause widespread damage. As residents and businesses prepare, the nation’s CPAs have advice for protecting and recovering sensitive financial information. The American Institute of CPAs has comprehensive guides focused on financial issues that consumers should consider and a number of business continuity checklists for executives.

Among the tips:

Have key documents in a safe, accessible place
. These should include your insurance policies, an inventory of valuable possessions and a list of key phone numbers you would need. Should you suffer any damage from the storm, you’ll want to have your key documents in order to help speed the recovery. One option to consider: Backing up information to the ‘cloud.’ Cloud storage—essentially large disk drives in an offsite location accessed through a secure online system – is an increasingly popular way, especially for businesses, to backup mission critical information so that it remains accessible even amid disasters.

Have cash on hand. If there are power outages, stores might not be able to take credit or debit cards. Take cash out in an advance so you are prepared to purchase any necessities in the aftermath.

Have a communications plan. Depending on the level of disruption, businesses might need to communicate with employees, vendors, investors or other stakeholders. Have a clear plan in advance for this process. It’s an important step for families, too, who might be spread among different locations.

For more information or to schedule an interview, please contact Jonathan B. Cox at 919-402-4499 or or Jeff May, 212-596-6122, or, both with AICPA Media Relations.