What is a Compliance Readiness Assessment?
Organizations must comply with the ever-increasing global data privacy and cyber security regulations. The rapid growth in IT and global networking makes IT security compliance critical. Preparing for an inherent risk is the only way to negate and avert it. A compliance readiness assessment is an in-depth assessment of your security infrastructure, correlating the findings with compliance regulations, laws, rules, and industry standards for small businesses and organizations. A thorough assessment highlights security and compliance shortfalls; essential upgrades required to nullify threats; and legal, financial, operational, and notoriety implications of non-compliance.
Inherent Risk
One of the key components of CDGs compliance readiness assessment service is the analysis of “inherent risk.” The level of risk present in the absence of safeguards is inherent risk. In other words, an organization’s risk is inherent before they consider countermeasures. In compliance assessment, inherent risks within an organization are identified and quantified, and detailed security complaint implications are provided.
Implications of Noncompliance
Legal
Legal or administrative actions against the business or its employees may result in fines, penalties, imprisonment, product confiscation, or disqualification. A business may face legal problems whenever its workers fail to comply with the law.
Financial
The damage to an organization’s income statement, stock price, or potential future earnings is a financial impact. Numerous problems, such as fines from legal problems, lost sales from reputational damage, or decreased cash flow from industrial downtime, can have a financial impact.
Operational
Internal or external causes may impact an organization’s capacity to function. Political penalties and a botched new product launch can hinder your supply chain’s efficiency.
Notoriety
Negative media attention may harm the company’s reputation or brand). Negative publicity may lead to a loss of client confidence and poor personnel morale.
What Does CDG Compliance Readiness Service Provide?
With the help of CDG compliance readiness assessment service, you can identify the vulnerabilities in your most important assets and take preventative measures before attackers use them to damage your company’s operations or steal sensitive data.
Assessment of compliance and security policy
We evaluate the fundamental competencies and objectives of your organization. The products and services your company provides affect your level of risk for a cyber security breach.
We examine your policies
Policy review involves people, processes, and procedures. Examining only one aspect of this leaves compliance readiness and actual security at risk of exposure. Your company’s policies and procedures must align with your business objectives; otherwise, they may lead to conflict and misunderstanding, resulting in security holes that attackers may exploit.
We evaluate your technology through security program evaluation
Penetration testing, industrial controls health checks, active directory evaluations, cloud evaluations, cyber insurance, and risk evaluations for mergers and acquisitions.
Steps for Compliance Assessment
Risk and readiness assessments are available for various commercial hazards and businesses, such as the financial services, public procurement, and healthcare sectors. Risks related to the possibility of noncompliance in your sector are precisely identified, prioritized, and controlled by compliance risk assessments. Fines, reputational harm, legal implications, or the inability to run the firm are all examples of potential sanctions. Compliance risk assessments, in contrast to other types of Cyber security assessments, concentrate on the legal or regulatory standards that a firm must adhere to. The chief compliance officer (CCO) or head of your compliance department often oversees risk analysis and compliance testing. The chief financial officer (CFO), the chief information officer (CIO), or another C-level executive may be in charge of managing additional risks.
What Benefits Do You Get With CDG?
The Outcome-Based security program is a process that CDG follows when assessing infrastructure and implementing security systems for its clients. This process begins with a comprehensive assessment of client readiness security and attack surface network infrastructure. The Outcome-Based security program is a result-oriented approach toward actionable insights to enhance the weak links in the client’s cyber security infrastructure. This process, coupled with the experience and expertise of the CDG team, ensures that our clients are always threat-prepared and action-ready in case of a security breach. Additionally, CDG adopts the best industry practices and is driven by a team of ambitious and expert individuals who ensure customized solutions for businesses of all sizes.
