The Impact of the Facebook Court Order & CCPA 2020: Helping Businesses and Accountants Meet the Challenge of the New Era of Privacy Compliance
Journal of Accounting, Ethics and Public Policy 21(2): 247-262 (2020)
16 Pages Posted: 24 Jun 2020
Date Written: June 1, 2020
The regulatory and compliance environment regarding privacy issues has changed drastically in the past few years. With the California Consumer Privacy Act becoming effective on January 1, 2020 and the Federal Trade Commission’s imposition of a $5 billion fine on Facebook for privacy violations on July 24, 2019, companies that utilize customer data are now finding themselves reevaluating their privacy practices. This article provides businesses and accountants with solutions to address these new privacy issues. First, the paper analyzes the new legal framework of the CCPA and the FTC’s action. Next, advice is provided for businesses to comply with the CCPA and respond to consumer requests for information. The paper concludes with a practical implementation plan for businesses to adopt.
Keywords: privacy, compliance, customer data, regulation
JEL Classification: L51, M41, M48
Suggested Citation: Suggested Citation