First released in 1996, Control Objectives for Information and Related Technology (COBIT) is a framework developed by the Information Systems Audit and Control Association (ISACA) that can help you create and implement strategies around IT management and IT governance. The COBIT management framework helps you deal with the risks to enterprise IT and the impacts those risks can have on your company, business processes, and IT systems.
The retail industry is undergoing an incredible transformation as emerging technologies, omnichannel shopping, as well as digital and social media, compel organizations to figure out how to operate more efficiently and better accommodate customers. Leaders of companies in the retail industry understand the importance of the digital forces at work in the sector and are looking more closely at the inherent risks these digital forces present.
The Payment Card Industry Data Security Standard (PCI DSS) does a great job of outlining how an organization should go about protecting cardholder data. Most organizations take the best practices from the PCI council and implement a strong information security strategy bent on enforcing PCI standards, compliance requirements, and vulnerability management. What happens when an organization doesn’t follow the rules as they should or they suffer a data breach because of negligence?
System and Organization Controls for Service Organizations 2 (SOC 2) compliance isn’t mandatory. No industry requires a SOC 2 report. Nor is SOC 2 compliance law or regulation. But your service organization ought to consider investing in the technical audit required for a SOC 2 report. Not only do many companies expect SOC 2 compliance from their service providers, but having a SOC 2 report attesting to compliance confers added benefits, as well.
Congratulations, you have achieved PCI compliance! Now comes the hard part, staying compliant. Remember, it was a great deal of work to get your environment where it needed to be for the Payment Card Industry Data Security Standard (PCI DSS). Organizations spend a fair amount of money getting systems, networks, and people exactly where they need to be for cardholder data protection.
Inherent risk and control risk are two of the three parts of the audit risk model, which auditors use to determine the overall risk of an audit. Inherent risk is the risk of a material misstatement in a company’s financial statements without considering internal controls.
If your organization has a presence in California or does business with California residents, then it probably needs to comply with the California Consumer Privacy Act (CCPA). CCPA compliance is no easy task but never fear: Using this checklist and our CCPA audit guide can help smooth the way.
For decision making, “reactive” tends to be frowned upon in the business world. “Proactive” is the preferred mode and has been pretty much since the word was coined (in 1933).
A formal, written vendor or third-party risk management policy is the first step in developing your vendor risk management program, and essential to that program’s success. Vendor risk management encompasses third-party risks as well as that of your vendors’ vendors — fourth-party risks — and is an important component of any cybersecurity program.
