February 10, 2017
Published in CFO
CFOs around the world have one more risk to fold into their financial planning strategies. The European Union General Data Protection Regulation (EU GDPR), set to come into effect on May 25, 2018, will apply to every organization of every size, industry, and geography that processes data from EU citizens.
The rule subjects a violator of the EU GDPR to a fine of up to 4% of annual global turnover. Thus, U.S. finance chiefs need to impress upon their companies of the potential financial statement effects of the requirements. To do this, they must understand the cost-benefit analysis of technical and organizational measures needed to ensure EU GDPR compliance.
Read the full article here.