Risk management of code is an important and often overlooked development function that you need to pay attention to. You may think that this is not a developer’s problem, however developers should not write code that unduly adds to technical debt, hence the need to manage risk. The primary motivation for risk management is to prevent error or failure. Do not seek to eliminate failure, seek to minimise it, to manage the risk of failure.
Viruses are the hot topic of 2021. We’re not just talking about the COVID-19 virus. Computer viruses, identity theft, and threat actors are no longer just the subject of sci-fi films and crime shows, but a reality of running a business. More than ever, cybersecurity is top of mind for business leaders. Whether you are a Fortune-500 Company or just launching your first venture, no business is too big or too small to escape the realities of today’s cyber threats.
Cybersecurity is one of the essential tasks for any business. It’s not just a matter of protecting your company’s data and information from external threats, but also ensuring that it remains robust to internal ones. All three, i.e. people, processes and technology, are your greatest asset. If they are not embedded and managed throughout the organisation, you can expect that they will inadvertently put your sensitive data at risk.
In 1970, the world experienced its first “cyber attack” – What first started as a harmless joke, paved the way for a new wave of criminality - cybercrime. Since then, attacks have become more sophisticated with the use of malware, ransomware, and phishing attacks, among many others. In fact, according to Security Magazine, today’s hackers attack computers with Internet access every 39 seconds on average.
When developing business continuity plans, businesses should understand that they actually need two documents: an incident response plan and a disaster recovery plan. Having an incident response plan means your organization is prepared for possible information security incidents such as a data breach, a system outage, or a security breach.
In today’s complex regulatory environment, organizations need to maintain compliance with numerous regulations. Two important cybersecurity-related compliance standards in the United States are the Federal Risk and Authorization Management Program (FedRAMP) and the Federal Information Security Management Act (FISMA). Although these two regulations do have similarities, they have several notable differences as well. This post will explore where FedRAMP and FISMA do, and don’t, overlap.
The PCAOB published fresh guidance last week about how auditors should handle evidence supplied by others to help the auditor assess financial statements, important performance or valuation metrics, and, well, all the other stuff that can go into an audit report these days.
Companies around the world have experienced tremendous changes. For publicly traded companies, those changes can bring new considerations into the frame for your Sarbanes-Oxley risk assessment. Shifts in strategy plans and a new remote, paperless way of operations could require major updates in your SOX compliance program. In this post we’ll discuss Sarbanes-Oxley in detail and outline a step-by-step method to perform the SOX risk assessment effectively.
Vendor risk management (VRM) is the type of risk management practice assessing and mitigating business partners, third parties, or external vendors. This process is conducted before an entity enters into a business relationship and during the duration of the business contract with the vendor.
Vendor risk management (VRM) is rapidly emerging with ever-evolving cyber security strategies. As we hit the pandemic and try to manage critical operations in a remote work setup, each day, business entities challenge with the new security, privacy, and business continuity risks associated with their vendors.
