Compliance with the Sarbanes-Oxley Act of 2002 is a legally mandated must for all U.S. public companies and some other entities, as well. But meeting the requirements of this important law can be incredibly difficult. Preparing for a SOX compliance audit requires so much work that companies often designate entire teams full-time to the task. The law is that complex.
Risk assessment is an essential component of risk management. It enables you to determine potential hazards that may negatively affect specific projects or result from certain decisions. This article explains how to calculate your cybersecurity risk using the concept of annual loss expectancy: There are two types of risk analysis — quantitative and qualitative: Both forms of risk analysis are valuable tools in risk management.
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.
