A company’s IT security and privacy compliance may not always be sufficient. In fact a recent study conducted by consultancy firm, Capgemini showed that only 28% of organisations believed that they were fully compliant with GDPR. The lack of certainty surrounding compliance can lead to significant problems in administration or on sale. Buyers of IT heavy or consumer facing businesses will expect comprehensive warranties concerning IT and data security and GDPR compliance.
Practitioners may not be aware that in certain circumstances, they may be held individually liable for breaches of data protection laws where they carry on the business of a company in administration.
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