Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Finance > IRIS survey finds most accountancy practices are ready for GDPR but still have challenges
    Finance

    IRIS survey finds most accountancy practices are ready for GDPR but still have challenges

    Published by Gbaf News

    Posted on May 25, 2018

    6 min read

    Last updated: January 21, 2026

    Image depicting professionals in technology and legal fields strategizing GDPR compliance. This reflects the growing job opportunities in response to data protection regulations, as highlighted in the article.
    Technology and legal experts discussing GDPR compliance strategies - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    With GDPR legislation coming into effect today, IRIS Accountancy Solutions has found accountancy practices have taken substantial steps to become GDPR-ready but still have concerns over individuals’ rights.

    The UK’s leading accountancy software provider solicited opinion from its customers in September 2017 and May 2018, and found practices have taken positive steps to apply the principles of personal data protection, implement procedures and allocate a data lead.

    However, concerns on the individual rights to know the information held, access personal data and the right to be forgotten, remain as key challenges.

    IRIS-logoSion Lewis, CEO of IRIS Accountancy Solutions says, “Preparation has accelerated across the industry and, looking at other UK sectors, I’m delighted to see we have made significant progress. There are still concerns but I believe by continuing to share and learn from each other we can respond effectively to requests.”

    The results from IRIS’ survey reveal the industry is very aware of GDPR, with an increase to 99% in May 2018, compared to 80% previously. This is higher than other reports have found – one claiming that 84.3% of organisations in the UK are very or somewhat aware of GDPR.

    Other key findings include:

    • Nearly three quarters (69%) of accountancy practices feel their employees can apply principles of personal data protection, up from two fifths (40%) in September 2017
    • Two thirds (66%) can demonstrate they have the necessary basis to hold client data, an increase from 42%
    • Over half (53%) of IRIS accountancy practices have procedures in place to detect data and report a data breach,a 28% rise from the previous survey
    • Four fifths (80%) of respondents now have a data protection lead,a rise from 60%

    The survey also finds the industry is generally more prepared than other UK businesses. In February 2018, FSB research found a third (33%) of small business had not started preparing for the introduction of GDPR and a further third (35%) were only in the early stages of preparation. This highlights the breadth of support businesses need, and as a trusted advisor to their clients, accountants are well-placed to advise them in many aspects of their business, including GDPR.

    IRIS has undertaken many initiatives to support and help practices become GDPR-ready, including its GDPR conferences across the UK, webinars and in-house training sessions, as well as wider education efforts.

    IRIS has also added significant GDPR enhancements in its April and May accountancy suite updates to assist accountants in their compliance efforts. These have focused on the most challenging areas including:

    • Bulk client delete capability which addresses the clients right to be forgotten
    • Improved reporting for client rights to accessibility and portability of their data
    • Client creation to deletion audit trail
    • Enhanced security (file encryption, password policy, reset and obfuscation)

    “GDPR compliance is a journey not a destination,” concludes Sion Lewis. “Although GDPR is effective from today, it should not be viewed as a one-off activity. Protecting personal data is central to every client relationship and needs to be frequently monitored. By continuing training and process checks, practices not only ensure they are compliant but also build client loyalty and trust.”

    Further guidance and information can be found on the IRIS GDPR Hub.

     

    With GDPR legislation coming into effect today, IRIS Accountancy Solutions has found accountancy practices have taken substantial steps to become GDPR-ready but still have concerns over individuals’ rights.

    The UK’s leading accountancy software provider solicited opinion from its customers in September 2017 and May 2018, and found practices have taken positive steps to apply the principles of personal data protection, implement procedures and allocate a data lead.

    However, concerns on the individual rights to know the information held, access personal data and the right to be forgotten, remain as key challenges.

    IRIS-logoSion Lewis, CEO of IRIS Accountancy Solutions says, “Preparation has accelerated across the industry and, looking at other UK sectors, I’m delighted to see we have made significant progress. There are still concerns but I believe by continuing to share and learn from each other we can respond effectively to requests.”

    The results from IRIS’ survey reveal the industry is very aware of GDPR, with an increase to 99% in May 2018, compared to 80% previously. This is higher than other reports have found – one claiming that 84.3% of organisations in the UK are very or somewhat aware of GDPR.

    Other key findings include:

    • Nearly three quarters (69%) of accountancy practices feel their employees can apply principles of personal data protection, up from two fifths (40%) in September 2017
    • Two thirds (66%) can demonstrate they have the necessary basis to hold client data, an increase from 42%
    • Over half (53%) of IRIS accountancy practices have procedures in place to detect data and report a data breach,a 28% rise from the previous survey
    • Four fifths (80%) of respondents now have a data protection lead,a rise from 60%

    The survey also finds the industry is generally more prepared than other UK businesses. In February 2018, FSB research found a third (33%) of small business had not started preparing for the introduction of GDPR and a further third (35%) were only in the early stages of preparation. This highlights the breadth of support businesses need, and as a trusted advisor to their clients, accountants are well-placed to advise them in many aspects of their business, including GDPR.

    IRIS has undertaken many initiatives to support and help practices become GDPR-ready, including its GDPR conferences across the UK, webinars and in-house training sessions, as well as wider education efforts.

    IRIS has also added significant GDPR enhancements in its April and May accountancy suite updates to assist accountants in their compliance efforts. These have focused on the most challenging areas including:

    • Bulk client delete capability which addresses the clients right to be forgotten
    • Improved reporting for client rights to accessibility and portability of their data
    • Client creation to deletion audit trail
    • Enhanced security (file encryption, password policy, reset and obfuscation)

    “GDPR compliance is a journey not a destination,” concludes Sion Lewis. “Although GDPR is effective from today, it should not be viewed as a one-off activity. Protecting personal data is central to every client relationship and needs to be frequently monitored. By continuing training and process checks, practices not only ensure they are compliant but also build client loyalty and trust.”

    Further guidance and information can be found on the IRIS GDPR Hub.

     

    More from Finance

    Explore more articles in the Finance category

    Image for Greenland foreign minister says US talks are positive but the outcome remains uncertain
    Greenland foreign minister says US talks are positive but the outcome remains uncertain
    Image for Hungary's opposition Tisza promises wealth tax, euro adoption in election programme
    Hungary's opposition Tisza promises wealth tax, euro adoption in election programme
    Image for Farmers report 'catastrophic' damage to crops as Storm Marta hits Spain and Portugal
    Farmers report 'catastrophic' damage to crops as Storm Marta hits Spain and Portugal
    Image for If US attacks, Iran says it will strike US bases in the region
    If US attacks, Iran says it will strike US bases in the region
    Image for Olympics-Biathlon-Winter Games bring tourism boost to biathlon hotbed of northern Italy
    Olympics-Biathlon-Winter Games bring tourism boost to biathlon hotbed of northern Italy
    Image for Analysis-Bitcoin loses Trump-era gains as crypto market volatility signals uncertainty
    Analysis-Bitcoin loses Trump-era gains as crypto market volatility signals uncertainty
    Image for NatWest closes in on $3.4 billion takeover of wealth manager Evelyn, Sky News reports
    NatWest closes in on $3.4 billion takeover of wealth manager Evelyn, Sky News reports
    Image for Stellantis-backed ACC drops plans for Italian, German gigafactories, union says
    Stellantis-backed ACC drops plans for Italian, German gigafactories, union says
    Image for US pushes Russia and Ukraine to end war by summer, Zelenskiy says
    US pushes Russia and Ukraine to end war by summer, Zelenskiy says
    Image for Russia launches massive attack on Ukraine's energy system, Zelenskiy says
    Russia launches massive attack on Ukraine's energy system, Zelenskiy says
    Image for Russia launched 400 drones, 40 missiles to hit Ukraine's energy sector, Zelenskiy says
    Russia launched 400 drones, 40 missiles to hit Ukraine's energy sector, Zelenskiy says
    Image for The Kyiv family, with its pets and pigs, defying Russia and the cold
    The Kyiv family, with its pets and pigs, defying Russia and the cold
    View All Finance Posts
    Previous Finance PostFrom cash to crypto: will national cryptocurrencies trigger a cashless society?
    Next Finance PostBroken chains and mortgage pains: millions suffer as house sales fall through