In the rapidly evolving landscape of artificial intelligence (AI), governance, risk, and compliance (GRC) professionals somehow need to navigate the increasingly complex challenges of trustworthy development, deployment, and monitoring of AI systems.

The U.S. federal government has many laws and regulations intended to assure strong cybersecurity for government agencies. Two of the most important are the Federal Information Security Management Act (FISMA) and the Federal Risk and Authorization Management Program (FedRAMP). Both FISMA and FedRAMP have the same fundamental goal: to assure that federal agencies and their vendors protect government data. That said, they also differ in many ways.

In today’s rapidly evolving business environment, the stakes for maintaining robust governance, risk management, and compliance (GRC) practices have never been higher. Regulators and auditors are scrutinizing areas such as risk management, regulatory mandates, cybersecurity, vendor management, and more with unprecedented rigor.

Staying compliant with ever-changing regulatory and risk management standards can be a daunting task. Compliance automation tools have emerged as a vital solution, simplifying and streamlining your work to meet legal and industry standards. This blog explores the intricacies of compliance automation, the tools involved, and how they revolutionize the way organizations approach regulatory compliance.

Third-party assessment organizations, or “3PAOs,” play a crucial role in compliance with the Federal Risk and Authorization Management Program, more commonly known as FedRAMP. 3PAOs assess the offerings of cloud service providers (CSPs), to help those CSPs satisfy their FedRAMP compliance obligations. Moreover, the 3PAOs’ input allows U.S. federal agencies to make informed, risk-based decisions about the CSPs those agencies might want to use.

Audit logs are essential for ensuring the security of an organization’s information systems. They track all events that occur within a system, including log-on attempts, file access, network connection, and other crucial operations. Should But, without proper management, audit logs are mostly a wasted opportunity – nothing more than scraps of data whose importance and potential are never harnessed.

As global data privacy and cybersecurity regulations continue to increase, the pressure for organizations to manage compliance risk grows. The first step in your journey to better compliance risk management is compliance risk assessment. With risk management methodologies, a compliance risk assessment analyzes how an organization might not meet its regulatory compliance obligations.

Corporate compliance is not a new idea; for many years, organizations everywhere have had to comply with certain rules and standards to reduce risks and vulnerabilities. Those rules might be defined internally by the company’s compliance team or by an external party such as a regulatory agency — but either way, they are rules that the company must follow. An effective compliance function assures that the organization complies with both internal and external rules.

In the ever-evolving landscape of data security and compliance, businesses must always stay current with the latest industry standards. As 2024 arrives, one such standard that demands your attention is the Payment Card Industry Data Security Standard (PCI DSS) version 4.0. PCI DSS v4.0 is a significant shift in how organizations must approach credit card and payment processing security and compliance.

What are some of the worries that keep compliance professionals up at night? For one, stressful stakeholder meetings and keeping abreast of the latest regulatory requirements. So is reporting bad news to the board or senior management, certainly. Another nagging worry for many: Despite your best efforts, you may “misreport” an issue – not report it completely or accurately.