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Article: Mastering the payment card industry standard: private framework seeks to shield credit and debit card account information.
- Article from:
- Journal of Accountancy
- Article date:
- January 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 American Institute of CPA's. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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EXECUTIVE SUMMARY
* Becoming familiar with the Payment Card Industry Data Security Standard is a prerequisite to understanding the regulatory environment in which many businesses that accept credit and debit cards operate.
* PCI dovetails with a CPA's core competencies in attest work, risk management, internal audit support and fraud prevention.
* PCI is not a standard affecting only merchants and card issuers. Through its three frameworks, it sets new standards of reasonable care and responsible safeguarding of cardholder data throughout many sectors of the economy. Simply accepting debit or credit cards or ...