The Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework goes back to the year 1992. The industry was looking for an internal control framework, and the COSO Internal Control Framework was the answer. There are three COSO compliance disciplines, five internal control components, and 17 principles focused on internal controls.

If you want confidence that your organization is meeting its core business goals, you need internal audits. If you want to save your organization time and money and keep everything running like a well-oiled machine, internal audits will help you get there. If you want to protect your enterprise against fraud and prevent fraudulent practices, internal audits are key.

The Payment Card Industry Data Security Standards (PCI DSS) defines the framework for protecting cardholder data. The framework was developed by the Payment Card Industry Security Standards Council (PCI SSC) and enables organizations to assess how well they are protecting cardholder data, training staff, and conducting PCI DSS audits. PCI compliance and accepting credit cards go hand in hand.

Each month, Reciprocity highlights companies that have earned compliance certifications for information security frameworks. Here’s our July 2020 roundup of compliance news from around the United States, and around the world.

ISO 27001 enables organizations of any size to manage the security of assets such as employee information, financial information, intellectual property, employee details, and third-party information. ISO 27001 is primarily known for providing requirements for an information security management system (ISMS) and is part of a much larger set of information security standards. An ISMS is a standards-based approach to managing sensitive information to make sure it stays secure.

No lock has ever been invented that was completely secure. If an intruder really wants to get in, they usually can find a way. And yet, most of us wouldn’t leave the door to our home, office, or automobile open or unlocked overnight. Security isn’t perfect, but it can act as a deterrent, helping to keep us and our belongings safe. The same is true in the digital realm. Cybercriminals work around the clock to infiltrate our home and business networks.

Your business continuity planning (BCP) and disaster recovery (DR) and response plans may not suffice for the COVID-19 pandemic—or for any pandemic. Let’s face it: Many organizations found themselves woefully unprepared to deal with the effects of the novel coronavirus’s rapid, devastating spread. Many are still struggling.

Being an important part of cyber security practices, security risk assessment protects your organization from intruders, attackers and cyber criminals. In this article, we will discuss what it is and what benefits it offers. A significant portion of our business processes heavily rely on the Internet technologies. That is why cyber security is a very important practice for all organizations. Making up a crucial part of cyber security, security risk assessment is a topic that must not be overlooked.

Third-party risk management (TPRM) is the process of analyzing and minimizing risks associated with outsourcing to third-party vendors or service providers. This is commonly known as third-party risk or vendor risk and can include financial, environmental, reputational, and security risks due to a vendor's access to intellectual property, sensitive data, personally identifiable information (PII), and protected health information (PHI).

In May 2013, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released its updated Internal Control-Integrated Framework. COSO is an organization that aims to improve organizational performance and corporate governance through effective internal control, enterprise risk management, and fraud deterrence.