SAS 70 Audit Concepts. and Benefits JAYACHANDRAN.B,CISA,CISM. August 2010

Size: px
Start display at page:

Download "SAS 70 Audit Concepts. and Benefits JAYACHANDRAN.B,CISA,CISM. August 2010"

Transcription

1 JAYACHANDRAN.B,CISA,CISM August 2010 SAS 70 Audit Concepts and Benefits

2 Agenda Compliance requirements Overview Business Environment IT Governance and Compliance Management Vendor & Service Provider Management What is SAS 70 & Indian Equivalent Opportunities Questions?

3 More Regulatory Requirements IT Governance at a Glance Risk Management Programs Risk Management Programs Critical Drivers Increasing Threats Reduced Tolerance for Service Disruption

4 Compliance Trends The Regulatory Environment Represents a New Enterprise Challenge Present Privacy Act of 1974 Foreign Corrupt Practice Act of Computer Security Act of EU Data Protection HIPAA FDA 21CFR Part 11 C6-Canada GLBA COPPA USA Patriot Act 2001 EC Data Privacy Directive CLERP 9 CAN-SPAM Act FISMA Sarbanes Oxley (SOX) CIPA 2002 Basel II NERC 1200 (2003) CISP Payment Card Industry (PCI) California Individual Privacy SB1386 Other State Privacy Laws (38)

5 Responsibility You are responsible for your vendors and service providers. Regulations assign data protection responsibility to the data owner Most regulations define provisions for data owners to provide oversight Law is more thoroughly defining data protection responsibilities

6 Are These your service Providers?

7 Common Theme Vendors and Service providers introduce unique risks The current state of vendor data security is inconsistent Regulators have inserted vendor management as a key element for all significant data security programs Compliance by service providers with those regulations is in the early stages (i.e. don t expect much)

8 Demystifying certifications Business knowledge makes your decision making easier

9 The certification obsession Almost a million organizations have obtained ISO 9001 certification About 5,600 have obtained ISO Certification India has over 40K organizations that are ISO 9001 certified; 369 Indian Organizations have obtained ISO Certification India Ranked #3 for ISO after Japan (3,790) and UK (487) ROI of Certification easier to establish when it s a competitive differentiator Assigning a Rupee (Dollar) value to benefits of certification hard to establish

10 Vendor Management Overview

11 RISK Know your vendor Aligned expectations Effective Controls Enforced Vendor Management Program PROGRAM Due Diligence Contract Terms Joint Risk Assessment Defined Standards Defined Control Responsibility Vendor Reporting Periodic Audit

12 A History of Issues Poor Controls A Fortune 500 Company reports a lost server with sensitive data at a marketing firm Unsecure Applications - VISA reports that unsecured applications and services are the highest risk to cardholder data processing Weak NDA Service Provider sells sensitive data and gets $10 million Poor Staff Supervision A careless firewall management firm leaves unsecured ports open to a organisation network

13 Due Diligence Service Provider capabilities aligned to business needs Financial stability Reference checks Formal review and approval process Maintain evidence of due diligence validation

14 Contract Terms Acknowledge access to sensitive data Agree to protect sensitive data Non-Disclosure and Confidentiality Agreement (NDA) Risk assessment and selection of controls Specify standards Define control responsibility Periodic reporting of control effectiveness Audit Notification of breach and support of incident investigation

15 Standards Not all service providers are aware of industry or regulatory standards for data protection. The data owner must make service providers aware of standards to include: Regulatory requirements (GLBA, HIPAA, PCI) Industry best practices (CoBIT, FFIEC, ISO 27001, NIST, ITIL) Company standards and policies Audit and reporting standards (PCI, SOX, SAS 70)

16 Risk Assessment and Control Selection Define system data flow Identify system responsibilities Perform risk assessment Select justified controls Identify control metrics Measure control effectiveness Identify a roadmap to jointly mitigate risks to sensitive data

17 PCI SOX HIPAA GLBA ISO Privacy Laws Unified Compliance Programs Training Access Controls Security Policy Unified IT Controls Security Arch. Design Code Review Penetration Testing NIDS/HIDS IDS Firewall Loggin

18 SAS 70 : What is it? The SAS 70 examination and its predecessor engagement has been in existence for more than 30 years. Commercial and Government organizations are becoming increasingly reliant on shared services processing. An examination conducted in accordance with the AICPA s Statement on Auditing Standards (SAS) No. 70 Service Organizations is a highly specialized examination of the design and operational effectiveness of a service organization s internal controls over processing transactions for user organizations. A report must be issued by an independent auditor CPA. Covers controls exercised by a service organization on behalf of its user organizations. Control Objectives are customizable based upon service organization and the functions performed. Relates to the user organization s financial statement assertions.

19 Misconceptions Misconception that a SAS 70 examination is some sort of certification process that is governed by established criteria. Organizations have referred to their SAS 70 Certification on their Web sites. SAS 70 is not a certification. A SAS 70 examination is most closely aligned with an audit, as it is governed by audit standards established by the AICPA. SAS 70 guidance was written to provide the auditor the flexibility to address varied control environments and control objectives. The AICPA s SAS 70 is a framework for auditors to follow in providing an opinion over a given control environment. Non CPAs may attempt to issue confusing websites.

20 Importance of a SAS 70 Communication of information about the service provider s controls The financial statement auditors of user organizations are required under professional standards to understand all aspects of transaction processing and control, including processing performed by a third party service organization. Clients of service organizations are beginning to demand service auditor reviews be performed on a regular basis over outsourced business processes. SAS 70 auditors can develop familiarity with the service organization s environment and leverage that knowledge for audit efficiencies across business offerings and platforms

21 Importance of a SAS 70 What are the alternatives that a financial statement auditor has when faced with an external service provider? Test the relevant controls at the service provider that support management s assertions on the financial statements Identify and test controls at the user organization that would prevent, detect and correct any control failures for key controls at the service provider (not always a possibility) Rely on the results of a SAS 70 examination (assuming appropriate scope, timing and results of testing) The above are not mutually exclusive alternatives

22 Parties Involved A service auditor is the auditor who reports on controls of a service organization that may be relevant to a user organization s internal control as it relates to an audit of financial statements. A service organization is the entity or segment of an entity that provides services to a user organization that are part of the user organization s information system. A user auditor is the auditor that reports on the financial statements of the user organization and relies on the report issued by the service auditor. A user organization is the entity that has engaged a service organization and whose financial statements are being audited.

23 What is a Service Organization? Providing services that impact a customer organization s internal control Organizations that host or support customer hardware and software Data center providers Application service providers (ASPs) Managed information security services Web-hosting or ecommerce infrastructure services Organizations that assist customers with initiating, authorizing, recording, or processing transactions Transfer agents and custodians Third-party administrators (TPAs) Claims processing facilities Data warehouses Call center and customer service centers

24 Establishing the Terms of the Engagement Most audit firms require a signed engagement letter before beginning the work. Must be dated before field work starts Includes: Scope Type I or Type II report and period of review Areas to be covered and control objectives to be reviewed Management s responsibilities Staff to be assigned to the engagement Professional fees

25 SAS 70 Sample Approach Evaluate testing results and determine if additional testing is necessary Report results to management Develop report Obtain management representation letter Finalize and Issue report

26 Content of a SAS 70 Report Independent Service Auditor s Report Provided by (Audit Organization) Description of control provided by the Service Organization Overview of Operations Relevant aspects of a control environment, risk assessment and monitoring Information and Communication

27 Management Representation Letters Communication from Service Organization management to Independent Auditors Dated last day of audit field work Key disclosures: Service Organization must disclose to the auditor all significant changes in controls that have occurred since the last examination and they must reflect such changes in their description of controls Service Organization must disclose to the auditor any illegal acts, fraud, or uncorrected errors attributable to management or employees that may affect one or more of the user organizations.

28 Management Representation Letters Key disclosures: Any design deficiencies in the controls must be disclosed for which the service organization believes the cost of corrective action may exceed benefits. No subsequent events have occurred that would have a significant effect on user organizations that have not been disclosed to auditor. Service organization has disclosed to the auditor all instances in which they are aware that controls have not operated with sufficient effectiveness to achieve the specified control objectives.

29 Purpose of SAS 70 Report Reports on the processing of transactions performed by service organizations; Provides for reporting on a service organization s internal controls to clients, clients auditors and other interested parties including prospective clients; Often referred to as a service auditors report.

30 Types of SAS 70 Reports Type 1 Type 2 Reports on controls placed in operation (as of a point in time) Looks at the design of controls- not operating effectiveness Considered for information purposes only Not considered a significant use for purposes of reliance by user auditors/organizations Most often performed only in the first year a client has a SAS 70 Reports on controls placed in operation and tests of operating effectiveness (for a period of time, generally not less than 6 months) Differentiating factor: Includes Tests of Operating Effectiveness More comprehensive Requires more internal and external effort Identifies instances of noncompliance More emphasis on evidential matter

31 Report Structure Section One - Independent Service Auditors Report (the auditors opinion) Section Two - Description of Internal Controls and Control Objectives Overview of the Organization Control Environment Elements System Description Control Objectives, Control Activities and User Control Considerations

32 Report Structure Section Three - Information Provided by the Independent Service Auditor Type 1 includes the test related to the design of the control environment Type 2 also includes the tests of operating effectiveness with results and exceptions Section Four - Information Provided by the Service Organization (Optional)

33 The Value of the SAS 70 Examination Provides the User Organization and their auditors with basic assurance around specified controls at the Service Organization Decreases interruptions from multiple user organization audits Increases consistency of information provided to user organizations Provides management within the Service Organization independent assurance of the design and operating effectiveness of key controls used to process user organizations transactions Increases audit efficiencies for the User Auditor and the Service Auditor

34 Key benefit of a SAS 70 Reduce disruption from multiple user organization audits The SAS 70 review was designed by the AICPA to enable service organizations to obtain a single audit to accommodate all or most of its user organizations audit requirements, substantially reducing its audit support costs.

35 SAS 70 assignment execution

36 "What's in it for me?" SAS 70 And SA 402 (AAS 24)AUDIT Considerations Relating To Entities Using Service Organizations( ) The Sarbanes-Oxley Act requires accounting firms to register with the PCAOB in order to prepare, issue, or participate in audit reports of issuers. Non-U.S. accounting firms that furnish, prepare, or play a substantial role in preparing an audit report for any issuer also are subject to PCAOB rules Preparation of Internal control documentation (SOP) Continuous assessment effectiveness of controls

37 SAS 70 assignment execution

38 SAS 70 Drivers: Legislation Legislation does not mandate the production of SAS 70 showever, the Legislation has: Increased the awareness and scrutiny of internal controls Made obtaining a SAS 70 from external as well as internal service organizations a sound and prudent risk management practice Made CEOs and CFOs responsible for establishing, evaluating, and monitoring the effectiveness of internal controls over financial reporting and disclosure

39 Leveraging existing certification To SAS 70 compliance The Initial Solution Document requirements for SAS 70 Develop / re deploy controls Maintain SAS 70 compliance The Pain Separate initiatives for each compliance driver Duplication of effort Confused employees The Smart Solution Leverage existing certifications Combination of ISO 9001 and ISO controls to meet SAS 70 requirements, Have Quality management maintain SAS 70 compliance Benefit: SAS 70 compliance at no extra cost Centralized records to address documentation requirements Extension of this innovative deployment to other engagements Site certification of SAS 70 proactive demonstration of commitment

40 Prevention vs. Response A recent Gartner study showed that preventing an incident was typically less than 4% of the cost of the incident

41 Questions or Comments?

ISACA Cincinnati Chapter March Meeting

ISACA Cincinnati Chapter March Meeting ISACA Cincinnati Chapter March Meeting Recent and Proposed Changes to SOC Reports Impacting Service and User Organizations. March 3, 2015 Presenters: Sayontan Basu-Mallick Lori Johnson Agenda SOCR Overview

More information

Weighing in on the Benefits of a SAS 70 Audit for Third Party Administrators

Weighing in on the Benefits of a SAS 70 Audit for Third Party Administrators Weighing in on the Benefits of a SAS 70 Audit for Third Party Administrators With increasing oversight and growing demands for industry regulations, third party assurance has never been under a keener

More information

A SERVICE ORGANIZATION S GUIDE SOC 1, 2, & 3 REPORTS

A SERVICE ORGANIZATION S GUIDE SOC 1, 2, & 3 REPORTS A SERVICE ORGANIZATION S GUIDE SOC 1, 2, & 3 REPORTS Introduction If you re a growing service organization, whether a technology provider, financial services corporation, healthcare company, or professional

More information

Understanding and Evaluating Service Organization Controls (SOC) Reports

Understanding and Evaluating Service Organization Controls (SOC) Reports Understanding and Evaluating Service Organization Controls (SOC) Reports Kevin Sear, CPA, CIA, CISA, CFE, CGMA Agenda 1. Why are SOC reports important? 2. Understanding the new SOC-1, SOC-2, and SOC-3

More information

C22: SAS 70 Practices and Developments Todd Bishop, PricewaterhouseCoopers

C22: SAS 70 Practices and Developments Todd Bishop, PricewaterhouseCoopers C22: SAS 70 Practices and Developments Todd Bishop, PricewaterhouseCoopers SAS No. 70 Practices & Developments Todd Bishop Director, Risk Assurance Services, PricewaterhouseCoopers Agenda SAS 70 Background

More information

PREPARING FOR SOC CHANGES. AN ARMANINO WHITE PAPER By Liam Collins, Partner-In-Charge, SOC Audit Practice

PREPARING FOR SOC CHANGES. AN ARMANINO WHITE PAPER By Liam Collins, Partner-In-Charge, SOC Audit Practice PREPARING FOR SOC CHANGES AN ARMANINO WHITE PAPER By Liam Collins, Partner-In-Charge, SOC Audit Practice On May 1, 2017, SSAE 18 went into effect and superseded SSAE 16. The following information is here

More information

Managing Privacy Risk & Compliance in Financial Services. Brett Hamilton Advisory Solutions Consultant ServiceNow

Managing Privacy Risk & Compliance in Financial Services. Brett Hamilton Advisory Solutions Consultant ServiceNow Managing Privacy Risk & Compliance in Financial Services Brett Hamilton Advisory Solutions Consultant ServiceNow 1 Speaker Introduction INSERT PHOTO Name: Brett Hamilton Title: Advisory Solutions Consultant

More information

The ProcessGene GRC Suite. Solution Presentation

The ProcessGene GRC Suite. Solution Presentation B u s i n e s s P r o c e s s R e a l i z a t i o n The ProcessGene GRC Suite Solution Presentation Design Processes Supervise Realization Control Changes Enforce Compliance Copyright 2007 About ProcessGene

More information

Exploring Emerging Cyber Attest Requirements

Exploring Emerging Cyber Attest Requirements Exploring Emerging Cyber Attest Requirements With a focus on SOC for Cybersecurity ( Cyber Attest ) Introductions and Overview Audrey Katcher Partner, RubinBrown LLP AICPA volunteer: AICPA SOC2 Guide Working

More information

Global Security Consulting Services, compliancy and risk asessment services

Global Security Consulting Services, compliancy and risk asessment services Global Security Consulting Services, compliancy and risk asessment services Introduced by Nadine Dereza Presented by Suheil Shahryar Director of Global Security Consulting Today s Business Environment

More information

SAS 70 & SSAE 16: Changes & Impact on Credit Unions. Agenda

SAS 70 & SSAE 16: Changes & Impact on Credit Unions. Agenda SAS 70 & SSAE 16: Changes & Impact on Credit Unions John Mason CISM, CISA, CGEIT, CFE SingerLewak LLP October 19, 2010 Agenda Statement on Auditing Standards (SAS) 70 background Background & purpose Types

More information

SAS 70 SOC 1 SOC 2 SOC 3. Type 1 Type 2

SAS 70 SOC 1 SOC 2 SOC 3. Type 1 Type 2 SAAABA Changes in Reports on Service Organization Controls April 18, 2012 Changes in Reports on Service Organization Controls (formerly SAS 70) April 18, 2012 Duane M. Reyhl, CPA Andrews Hooper Pavlik

More information

Assessment and Compliance with Sarbanes-Oxley (SOX) Requirements DataGuardZ Whitepaper

Assessment and Compliance with Sarbanes-Oxley (SOX) Requirements DataGuardZ Whitepaper Assessment and Compliance with Sarbanes-Oxley (SOX) Requirements DataGuardZ Whitepaper What is the history behind Sarbanes-Oxley Act (SOX)? In 2002, the U.S. Senate added the Sarbanes-Oxley Act (SOX) to

More information

SOC Reporting / SSAE 18 Update July, 2017

SOC Reporting / SSAE 18 Update July, 2017 SOC Reporting / SSAE 18 Update July, 2017 Agenda SOC Refresher Overview of SSAE 18 Changes to SOC 1 Changes to SOC 2 Quiz / Questions Various Types of SOC Reports SOC for Service Organizations (http://www.aicpa.org/soc4so)

More information

Service Organization Control (SOC) Reports: What they are and what to do with them MARCH 21, 2017

Service Organization Control (SOC) Reports: What they are and what to do with them MARCH 21, 2017 Service Organization Control (SOC) Reports: What they are and what to do with them MARCH 21, 2017 Presenter Colin Wallace, CPA/CFF, CFE, CIA, CISA Partner Colin has provided management consulting and internal

More information

SERVICE ORGANIZATION CONTROL (SOC) REPORTS: WHAT ARE THEY?

SERVICE ORGANIZATION CONTROL (SOC) REPORTS: WHAT ARE THEY? WHITE PAPER SERVICE ORGANIZATION CONTROL (SOC) REPORTS: WHAT ARE THEY? JEFF COOK DIRECTOR CPA, CITP, CIPT, CISA North America Europe 877.224.8077 info@coalfire.com coalfire.com TABLE OF CONTENTS Summary...

More information

COBIT 5 With COSO 2013

COBIT 5 With COSO 2013 Integrating COBIT 5 With COSO 2013 Stephen Head Senior Manager, IT Risk Advisory Services 1 Our Time This Evening Importance of Governance COBIT 5 Overview COSO Overview Mapping These Frameworks Stakeholder

More information

SOC 3 for Security and Availability

SOC 3 for Security and Availability SOC 3 for Security and Availability Independent Practioner s Trust Services Report For the Period October 1, 2015 through September 30, 2016 Independent SOC 3 Report for the Security and Availability Trust

More information

locuz.com SOC Services

locuz.com SOC Services locuz.com SOC Services 1 Locuz IT Security Lifecycle services combine people, processes and technologies to provide secure access to business applications, over any network and from any device. Our security

More information

GDPR AMC SAAS AND HOSTED MODULES. UK version. AMC Consult A/S June 26, 2018 Version 1.10

GDPR AMC SAAS AND HOSTED MODULES. UK version. AMC Consult A/S June 26, 2018 Version 1.10 GDPR AMC SAAS AND HOSTED MODULES UK version AMC Consult A/S June 26, 2018 Version 1.10 INDEX 1 Signatures...3 2 General...4 3 Definitions...5 4 Scoping...6 4.1 In scope...6 5 Responsibilities of the data

More information

01.0 Policy Responsibilities and Oversight

01.0 Policy Responsibilities and Oversight Number 1.0 Policy Owner Information Security and Technology Policy Policy Responsibility & Oversight Effective 01/01/2014 Last Revision 12/30/2013 Department of Innovation and Technology 1. Policy Responsibilities

More information

Mastering SOC-1 Attestation Reports Under SSAE 16: Auditing Service Organizations Controls in the Cloud

Mastering SOC-1 Attestation Reports Under SSAE 16: Auditing Service Organizations Controls in the Cloud FOR LIVE POGRAM ONLY Mastering SOC-1 Attestation Reports Under SSAE 16: Auditing Service Organizations Controls in the Cloud TUESDAY, AUGUST 9, 2016, 1:00-2:50 pm Eastern IMPORTANT INFORMATION FOR THE

More information

IT Attestation in the Cloud Era

IT Attestation in the Cloud Era IT Attestation in the Cloud Era The need for increased assurance over outsourced operations/ controls April 2013 Symeon Kalamatianos M.Sc., CISA, CISM Senior Manager, IT Risk Consulting Contents Introduction

More information

The SOC 2 Compliance Handbook:

The SOC 2 Compliance Handbook: The SOC 2 Compliance Handbook: Your guide to SOC 2 Audit Success The SOC 2 Compliance Handbook Page 2 Table of Contents Abstract 3 Why am I being asked about SOC Compliance? 4 What s the difference between

More information

SOC Lessons Learned and Reporting Changes

SOC Lessons Learned and Reporting Changes SOC Lessons Learned and Reporting Changes Dec. 16, 2014 Your Presenters Today Arshad Ahmed, CISA, CISSP, CPA Leader of SOC and Technology Risk Services for Crowe Rod Smith, CISA, CPA Thought Leader for

More information

Retirement of SAS 70 and a new generation of Service Organization Control (SOC) Reports

Retirement of SAS 70 and a new generation of Service Organization Control (SOC) Reports new generation of Service Organization Control (SOC) Reports Presented by: Nina Currigan, KPMG Advisory Manager Karen Krebsbach, Ernst & Young Advisory Manager With you today Nina Currigan Advisory Manager

More information

Information Technology General Control Review

Information Technology General Control Review Information Technology General Control Review David L. Shissler, Senior IT Auditor, CPA, CISA, CISSP Office of Internal Audit and Risk Assessment September 15, 2016 Background Presenter Senior IT Auditor

More information

Audit Considerations Relating to an Entity Using a Service Organization

Audit Considerations Relating to an Entity Using a Service Organization An Entity Using a Service Organization 355 AU-C Section 402 Audit Considerations Relating to an Entity Using a Service Organization Source: SAS No. 122; SAS No. 128; SAS No. 130. Effective for audits of

More information

2018 HIPAA One All Rights Reserved. Beyond HIPAA Compliance to Certification

2018 HIPAA One All Rights Reserved. Beyond HIPAA Compliance to Certification 2018 HIPAA One All Rights Reserved. Beyond HIPAA Compliance to Certification Presenters Jared Hamilton CISSP CCSK, CCSFP, MCSE:S Healthcare Cybersecurity Leader, Crowe Horwath Erika Del Giudice CISA, CRISC,

More information

ISO / IEC 27001:2005. A brief introduction. Dimitris Petropoulos Managing Director ENCODE Middle East September 2006

ISO / IEC 27001:2005. A brief introduction. Dimitris Petropoulos Managing Director ENCODE Middle East September 2006 ISO / IEC 27001:2005 A brief introduction Dimitris Petropoulos Managing Director ENCODE Middle East September 2006 Information Information is an asset which, like other important business assets, has value

More information

SSAE 18 & new SOC approach to compliance. Moderator Name: Patricio Garcia Managing Partner ControlCase Attestation Services

SSAE 18 & new SOC approach to compliance. Moderator Name: Patricio Garcia Managing Partner ControlCase Attestation Services SSAE 18 & new SOC approach to compliance Moderator Name: Patricio Garcia Managing Partner ControlCase Attestation Services Agenda 1. SSAE 18 overview 2. SOC 2 + 3. 2017 Trust Services Criteria SSAE 18

More information

Data Security Standards

Data Security Standards Data Security Standards Overall guide The bigger picture of where the standards fit in 2018 Copyright 2017 Health and Social Care Information Centre. The Health and Social Care Information Centre is a

More information

Information for entity management. April 2018

Information for entity management. April 2018 Information for entity management April 2018 Note to readers: The purpose of this document is to assist management with understanding the cybersecurity risk management examination that can be performed

More information

Google Cloud & the General Data Protection Regulation (GDPR)

Google Cloud & the General Data Protection Regulation (GDPR) Google Cloud & the General Data Protection Regulation (GDPR) INTRODUCTION General Data Protection Regulation (GDPR) On 25 May 2018, the most significant piece of European data protection legislation to

More information

University of Pittsburgh Security Assessment Questionnaire (v1.7)

University of Pittsburgh Security Assessment Questionnaire (v1.7) Technology Help Desk 412 624-HELP [4357] technology.pitt.edu University of Pittsburgh Security Assessment Questionnaire (v1.7) Directions and Instructions for completing this assessment The answers provided

More information

The HITRUST CSF. A Revolutionary Way to Protect Electronic Health Information

The HITRUST CSF. A Revolutionary Way to Protect Electronic Health Information The HITRUST CSF A Revolutionary Way to Protect Electronic Health Information June 2015 The HITRUST CSF 2 Organizations in the healthcare industry are under immense pressure to improve quality, reduce complexity,

More information

Security Operations & Analytics Services

Security Operations & Analytics Services Security Operations & Analytics Services www.ecominfotech.biz info@ecominfotech.biz Page 1 Key Challenges Average time to detect an attack (Dwell time) hovers around 175 to 210 days as reported by some

More information

Balancing Compliance and Operational Security Demands. Nov 2015 Steve Winterfeld

Balancing Compliance and Operational Security Demands. Nov 2015 Steve Winterfeld Balancing Compliance and Operational Security Demands Nov 2015 Steve Winterfeld What is more important? Compliance with laws / regulations Following industry best practices Developing a operational practice

More information

Achieving third-party reporting proficiency with SOC 2+

Achieving third-party reporting proficiency with SOC 2+ Achieving third-party reporting proficiency with SOC 2+ Achieving third-party reporting proficiency with SOC 2+ Today s organizations do business within a broad ecosystem. Customers, partners, agents,

More information

IT Audit Process Prof. Liang Yao Week Two IT Audit Function

IT Audit Process Prof. Liang Yao Week Two IT Audit Function Week Two IT Audit Function Why we need IT audit A Case Study What You Can Learn about Risk Management from Societe Generale? https://www.cio.com/article/2436790/security0/what-you-can-learn-about-risk-management-fromsociete-generale.html

More information

Evaluating SOC Reports and NEW Reporting Requirements

Evaluating SOC Reports and NEW Reporting Requirements Evaluating SOC Reports and NEW Reporting Requirements ISACA Kris Lonborg, EY Partner Maria Avedissian, EY Senior Manager September 12, 2013 Agenda Evaluating SOC reports Recent changes made to the SOC1

More information

Introduction to ISO/IEC 27001:2005

Introduction to ISO/IEC 27001:2005 Introduction to ISO/IEC 27001:2005 For ISACA Melbourne Chapter Technical Session 18 th of July 2006 AD Prepared by Endre P. Bihari JP of Performance Resources What is ISO/IEC 17799? 2/20 Aim: Creating

More information

Making trust evident Reporting on controls at Service Organizations

Making trust evident Reporting on controls at Service Organizations www.pwc.com Making trust evident Reporting on controls at Service Organizations 1 Does this picture look familiar to you? User Entity A User Entity B User Entity C Introduction and background Many entities

More information

SOC-2 Requirement Solution Brief. EventTracker 8815 Centre Park Drive, Columbia MD SOC-2

SOC-2 Requirement Solution Brief. EventTracker 8815 Centre Park Drive, Columbia MD SOC-2 Requirement Solution Brief 8815 Centre Park Drive, Columbia MD 21045 About delivers business critical software and services that transform high-volume cryptic log data into actionable, prioritized intelligence

More information

Balancing Between Risk and Compliance

Balancing Between Risk and Compliance Balancing Between Risk and Compliance Dave Mann, Ph.D. Senior Security Strategist BindView Development Business is risky! Want low risk? Get a savings account Risk Appetite = Organizational need for risk

More information

Demonstrating Compliance in the Financial Services Industry with Veriato

Demonstrating Compliance in the Financial Services Industry with Veriato Demonstrating Compliance in the Financial Services Industry with Veriato Demonstrating Compliance in the Financial Services Industry With Veriato The biggest challenge in ensuring data security is people.

More information

CCISO Blueprint v1. EC-Council

CCISO Blueprint v1. EC-Council CCISO Blueprint v1 EC-Council Categories Topics Covered Weightage 1. Governance (Policy, Legal, & Compliance) & Risk Management 1.1 Define, implement, manage and maintain an information security governance

More information

Protecting your data. EY s approach to data privacy and information security

Protecting your data. EY s approach to data privacy and information security Protecting your data EY s approach to data privacy and information security Digital networks are a key enabler in the globalization of business. They dramatically enhance our ability to communicate, share

More information

HPE DATA PRIVACY AND SECURITY

HPE DATA PRIVACY AND SECURITY ARUBA, a Hewlett Packard Enterprise company, product services ( Services ) This Data Privacy and Security Agreement ("DPSA") Schedule governs the privacy and security of Personal Data by HPE in connection

More information

SAS70 Type II Reports Use and Interpretation for SOX

SAS70 Type II Reports Use and Interpretation for SOX SAS70 Type II Reports Use and Interpretation for SOX November 19, 2007 Presented by: Erin Erickson, Senior Manager Enterprise Governance and Brenda Karl, Director Technology Risk Management Agenda Background

More information

HITRUST Common Security Framework - Are you prepared?

HITRUST Common Security Framework - Are you prepared? ALLINIAL HITRUST Common Security Framework - Are you prepared? Michael Kanarellis, HITRUST CCSFP May 17, 2017 MEMBER OF PKF ALLINIAL NORTH GLOBAL, AMERICA, AN ASSOCIATION AN OF LEGALLY OF LEGALLY INDEPENDENT

More information

SOC for cybersecurity

SOC for cybersecurity April 2018 SOC for cybersecurity a backgrounder Acknowledgments Special thanks to Francette Bueno, Senior Manager, Advisory Services, Ernst & Young LLP and Chris K. Halterman, Executive Director, Advisory

More information

The Honest Advantage

The Honest Advantage The Honest Advantage READY TO CHALLENGE THE STATUS QUO GSA Security Policy and PCI Guidelines The GreenStar Alliance 2017 2017 GreenStar Alliance All Rights Reserved Table of Contents Table of Contents

More information

26 February Office of the Secretary Public Company Accounting Oversight Board 1666 K Street, NW Washington, DC

26 February Office of the Secretary Public Company Accounting Oversight Board 1666 K Street, NW Washington, DC 3701 Algonquin Road, Suite 1010 Telephone: 847.253.1545 Rolling Meadows, Illinois 60008, USA Facsimile: 847.253.1443 Web Sites: www.isaca.org and www.itgi.org 26 February 2007 Office of the Secretary Public

More information

Table of Contents. Preface xvii PART ONE: FOUNDATIONS OF MODERN INTERNAL AUDITING

Table of Contents. Preface xvii PART ONE: FOUNDATIONS OF MODERN INTERNAL AUDITING Table of Contents Preface xvii PART ONE: FOUNDATIONS OF MODERN INTERNAL AUDITING Chapter 1: Significance of Internal Auditing in Enterprises Today: An Update 3 1.1 Internal Auditing History and Background

More information

Aligning Your Organization s Business Units to Achieve a Cohesive Cybersecurity Strategy

Aligning Your Organization s Business Units to Achieve a Cohesive Cybersecurity Strategy Aligning Your Organization s Business Units to Achieve a Cohesive Cybersecurity Strategy Orus Dearman, Director, Business Advisory Services, Grant Thornton Johanna Terronez, Senior Manager, Business Advisory

More information

Performing a Vendor Security Review TCTC 2017 FALL EVENT PRESENTER: KATIE MCINTOSH

Performing a Vendor Security Review TCTC 2017 FALL EVENT PRESENTER: KATIE MCINTOSH Performing a Vendor Security Review TCTC 2017 FALL EVENT PRESENTER: KATIE MCINTOSH 1 Speaker Bio Katie McIntosh, CISM, CRISC, CISA, CIA, CRMA, is the Cyber Security Specialist for Central Hudson Gas &

More information

Model Approach to Efficient and Cost-Effective Third-Party Assurance

Model Approach to Efficient and Cost-Effective Third-Party Assurance Model Approach to Efficient and Cost-Effective Third-Party Assurance 1 CHALLENGES WITH THIRD-PARTY ASSURANCE 2 What s Driving Demand for Increased Assurance? Increasing risk posed by third parties Increasing

More information

Cybersecurity in Higher Ed

Cybersecurity in Higher Ed Cybersecurity in Higher Ed 1 Overview Universities are a treasure trove of information. With cyber threats constantly changing, there is a need to be vigilant in protecting information related to students,

More information

Information Security Risk Strategies. By

Information Security Risk Strategies. By Information Security Risk Strategies By Larry.Boettger@Berbee.com Meeting Agenda Challenges Faced By IT Importance of ISO-17799 & NIST The Security Pyramid Benefits of Identifying Risks Dealing or Not

More information

INFORMATION SECURITY. One line heading. > One line subheading. A briefing on the information security controls at Computershare

INFORMATION SECURITY. One line heading. > One line subheading. A briefing on the information security controls at Computershare INFORMATION SECURITY A briefing on the information security controls at Computershare One line heading > One line subheading INTRODUCTION Information is critical to all of our clients and is therefore

More information

Risk Advisory Academy Training Brochure

Risk Advisory Academy Training Brochure Academy Brochure 2 Academy Brochure Cyber Security Our Cyber Security trainings are focused on building your internal capacity to leverage IT related technologies more confidently and manage risk and uncertainty

More information

California ISO Audit Results for 2011 SSAE 16 & Looking Forward for 2012 December 15, 2011

California ISO Audit Results for 2011 SSAE 16 & Looking Forward for 2012 December 15, 2011 www.pwc.com California ISO Audit Results for 2011 SSAE 16 & Looking Forward for 2012 December 15, 2011 Agenda SSAE 16 Background Results of Audit Scope of Audit Looking Forward Closing Thoughts Slide 1

More information

INTELLIGENCE DRIVEN GRC FOR SECURITY

INTELLIGENCE DRIVEN GRC FOR SECURITY INTELLIGENCE DRIVEN GRC FOR SECURITY OVERVIEW Organizations today strive to keep their business and technology infrastructure organized, controllable, and understandable, not only to have the ability to

More information

Cybersecurity Conference Presentation North Bay Business Journal. September 27, 2016

Cybersecurity Conference Presentation North Bay Business Journal. September 27, 2016 Cybersecurity Conference Presentation North Bay Business Journal September 27, 2016 1 PRESENTER Francis Tam, CPA, CISM, CISA, CITP, CRISC, PCI QSA Partner Information Security and Infrastructure Practice

More information

Best Practices & Lesson Learned from 100+ ITGRC Implementations

Best Practices & Lesson Learned from 100+ ITGRC Implementations Best Practices & Lesson Learned from 100+ ITGRC Implementations Presenter: Vivek Shivananda CEO of Rsam Dec 3, 2010 ISACA -NY Chapter Copyright 2002 2010 Relational Security Corp. (dba Rsam) Agenda Overview

More information

manner. IOPA conducts its reviews in conformance with Government Auditing Standards issued by the Comptroller General of the United States.

manner. IOPA conducts its reviews in conformance with Government Auditing Standards issued by the Comptroller General of the United States. PCAOB Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org The Honorable Christopher Cox Chairman Securities

More information

Data Processing Agreement

Data Processing Agreement Data Processing Agreement Merchant (the "Data Controller") and Nets (the "Data Processor") (separately referred to as a Party and collectively the Parties ) have concluded this DATA PROCESSING AGREEMENT

More information

354 & Index Board of Directors Responsibilities Audit Committee and Risk Committee Coordination, 244 Audit Committee Functions and Responsibilities, 2

354 & Index Board of Directors Responsibilities Audit Committee and Risk Committee Coordination, 244 Audit Committee Functions and Responsibilities, 2 Index Accounts Payable Process Review Procedures Assessments, 191 Actions to Resolve Risks COSO ERM Control Activities, 97 Activity Management COSO ERM Control Activities, 81 AICPA SAS No. 1 Internal Controls

More information

Credit Union Service Organization Compliance

Credit Union Service Organization Compliance Credit Union Service Organization Compliance How do SOC reporting and PCI requirements affect your overall compliance strategy? May 15 2012 Your Speakers Dennis Lavin Credit Union Assurance Partner Moderator

More information

HCL GRC IT AUDIT & ASSURANCE SERVICES

HCL GRC IT AUDIT & ASSURANCE SERVICES HCL GRC IT AUDIT & ASSURANCE SERVICES Overview The immense progress made in information and communications technology offers enterprises outstanding benefits. However this also results in making the risk

More information

COPYRIGHTED MATERIAL. Index

COPYRIGHTED MATERIAL.   Index Index 2014 revised COSO framework. See COSO internal control framework Association of Certified Fraud Examiners (ACFE), 666 Administrative files workpaper document organization, 402 AICPA fraud standards

More information

GDPR: A QUICK OVERVIEW

GDPR: A QUICK OVERVIEW GDPR: A QUICK OVERVIEW 2018 Get ready now. 29 June 2017 Presenters Charles Barley Director, Risk Advisory Services Charles Barley, Jr. is responsible for the delivery of governance, risk and compliance

More information

SECURITY & PRIVACY DOCUMENTATION

SECURITY & PRIVACY DOCUMENTATION Okta s Commitment to Security & Privacy SECURITY & PRIVACY DOCUMENTATION (last updated September 15, 2017) Okta is committed to achieving and preserving the trust of our customers, by providing a comprehensive

More information

Cyber Security in M&A. Joshua Stone, CIA, CFE, CISA

Cyber Security in M&A. Joshua Stone, CIA, CFE, CISA Cyber Security in M&A Joshua Stone, CIA, CFE, CISA Agenda About Whitley Penn, LLP The Threat Landscape Changed Cybersecurity Due Diligence Privacy Practices Cybersecurity Practices Costs of a Data Breach

More information

Transitioning from SAS 70 to SSAE 16

Transitioning from SAS 70 to SSAE 16 Industry Webinar Series SAS 70 ENDS EXIT TO SSAE 16 Transitioning from SAS 70 to SSAE 16 How Does This Apply to Your Organization? Cindy Boyle, Partner Rodney Walsh, Director BKD IT Risk Services Agenda

More information

existing customer base (commercial and guidance and directives and all Federal regulations as federal)

existing customer base (commercial and guidance and directives and all Federal regulations as federal) ATTACHMENT 7 BSS RISK MANAGEMENT FRAMEWORK PLAN [L.30.2.7, M.2.2.(7), G.5.6; F.2.1(41) THROUGH (76)] A7.1 BSS SECURITY REQUIREMENTS Our Business Support Systems (BSS) Risk MetTel ensures the security of

More information

Altius IT Policy Collection Compliance and Standards Matrix

Altius IT Policy Collection Compliance and Standards Matrix Governance Context and Alignment Policy 4.1 4.4 800-26 164.308 12.4 EDM01 IT Governance Policy 5.1 800-30 12.5 EDM02 Leadership Mergers and Acquisitions Policy A.6.1.1 800-33 EDM03 Context Terms and Definitions

More information

USER CORPORATE RULES. These User Corporate Rules are available to Users at any time via a link accessible in the applicable Service Privacy Policy.

USER CORPORATE RULES. These User Corporate Rules are available to Users at any time via a link accessible in the applicable Service Privacy Policy. These User Corporate Rules are available to Users at any time via a link accessible in the applicable Service Privacy Policy. I. OBJECTIVE ebay s goal is to apply uniform, adequate and global data protection

More information

WHITE PAPER. Title. Managed Services for SAS Technology

WHITE PAPER. Title. Managed Services for SAS Technology WHITE PAPER Hosted Title Managed Services for SAS Technology ii Contents Performance... 1 Optimal storage and sizing...1 Secure, no-hassle access...2 Dedicated computing infrastructure...2 Early and pre-emptive

More information

The Common Controls Framework BY ADOBE

The Common Controls Framework BY ADOBE The Controls Framework BY ADOBE The following table contains the baseline security subset of control activities (derived from the Controls Framework by Adobe) that apply to Adobe s enterprise offerings.

More information

Network Instruments white paper

Network Instruments white paper Network Instruments white paper SOX AND IT How the Observer Performance Management Platform can help IT Professionals comply with the data practices components of Sarbanes-Oxley. EXECUTIVE SUMMARY U.S.

More information

Security Awareness Compliance Requirements. Updated: 11 October, 2017

Security Awareness Compliance Requirements. Updated: 11 October, 2017 Security Awareness Compliance Requirements Updated: 11 October, 2017 Executive Summary The purpose of this document is to identify different standards and regulations that require security awareness programs.

More information

REPORT 2015/149 INTERNAL AUDIT DIVISION

REPORT 2015/149 INTERNAL AUDIT DIVISION INTERNAL AUDIT DIVISION REPORT 2015/149 Audit of the information and communications technology operations in the Investment Management Division of the United Nations Joint Staff Pension Fund Overall results

More information

Overview Bank IT examination perspective Background information Elements of a sound plan Customer notifications

Overview Bank IT examination perspective Background information Elements of a sound plan Customer notifications Gramm-Leach Bliley Act Section 501(b) and Customer Notification Roger Pittman Director of Operations Risk Federal Reserve Bank of Atlanta Overview Bank IT examination perspective Background information

More information

Chapter 18 SaskPower Managing the Risk of Cyber Incidents 1.0 MAIN POINTS

Chapter 18 SaskPower Managing the Risk of Cyber Incidents 1.0 MAIN POINTS Chapter 18 SaskPower Managing the Risk of Cyber Incidents 1.0 MAIN POINTS The Saskatchewan Power Corporation (SaskPower) is the principal supplier of power in Saskatchewan with its mission to deliver power

More information

Altius IT Policy Collection Compliance and Standards Matrix

Altius IT Policy Collection Compliance and Standards Matrix Governance Context and Alignment Policy 4.1 4.4 800-26 164.308 12.4 EDM01 IT Governance Policy 5.1 800-30 12.5 EDM02 Leadership Mergers and Acquisitions Policy A.6.1.1 800-33 EDM03 Context Terms and Definitions

More information

Information Technology Security Plan Policies, Controls, and Procedures Identify Governance ID.GV

Information Technology Security Plan Policies, Controls, and Procedures Identify Governance ID.GV Information Technology Security Plan Policies, Controls, and Procedures Identify Governance ID.GV Location: https://www.pdsimplified.com/ndcbf_pdframework/nist_csf_prc/documents/identify/ndcbf _ITSecPlan_IDGV2017.pdf

More information

Certified Information Security Manager (CISM) Course Overview

Certified Information Security Manager (CISM) Course Overview Certified Information Security Manager (CISM) Course Overview This course teaches students about information security governance, information risk management, information security program development,

More information

Controlled Document Page 1 of 6. Effective Date: 6/19/13. Approved by: CAB/F. Approved on: 6/19/13. Version Supersedes:

Controlled Document Page 1 of 6. Effective Date: 6/19/13. Approved by: CAB/F. Approved on: 6/19/13. Version Supersedes: Page 1 of 6 I. Common Principles and Approaches to Privacy A. A Modern History of Privacy a. Descriptions, definitions and classes b. Historical and social origins B. Types of Information a. Personal information

More information

Cybersecurity The Evolving Landscape

Cybersecurity The Evolving Landscape Cybersecurity The Evolving Landscape 1 Presenter Zach Shelton, CISA Principal DHG IT Advisory Zach.Shelton@DHG.com Raleigh, NC 14+ years of experience in IT Consulting 11+ years of experience with DHG

More information

HIPAA Compliance: What it is, what it means, and what to do about it. Adam Carlson, Security Solutions Consultant Intapp

HIPAA Compliance: What it is, what it means, and what to do about it. Adam Carlson, Security Solutions Consultant Intapp HIPAA Compliance: What it is, what it means, and what to do about it. Adam Carlson, Security Solutions Consultant Intapp Agenda Introductions HIPAA Background and History Overview of HIPAA Requirements

More information

TARGET2-SECURITIES INFORMATION SECURITY REQUIREMENTS

TARGET2-SECURITIES INFORMATION SECURITY REQUIREMENTS Target2-Securities Project Team TARGET2-SECURITIES INFORMATION SECURITY REQUIREMENTS Reference: T2S-07-0270 Date: 09 October 2007 Version: 0.1 Status: Draft Target2-Securities - User s TABLE OF CONTENTS

More information

Within our recommendations for editorial changes, additions are noted in bold underline and deletions in strike-through.

Within our recommendations for editorial changes, additions are noted in bold underline and deletions in strike-through. 1633 Broadway New York, NY 10019-6754 Mr. Jim Sylph Executive Director, Professional Standards International Federation of Accountants 545 Fifth Avenue, 14th Floor New York, NY 10017 Dear Mr. Sylph: We

More information

Administration and Data Retention. Best Practices for Systems Management

Administration and Data Retention. Best Practices for Systems Management Administration and Data Retention Best Practices for Systems Management Agenda Understanding the Context for IT Management Concepts for Managing Key IT Objectives Aptify and IT Management Best Practices

More information

IT Governance ISO/IEC 27001:2013 ISMS Implementation. Service description. Protect Comply Thrive

IT Governance ISO/IEC 27001:2013 ISMS Implementation. Service description. Protect Comply Thrive IT Governance ISO/IEC 27001:2013 ISMS Implementation Service description Protect Comply Thrive 100% guaranteed ISO 27001 certification with the global experts With the IT Governance ISO 27001 Implementation

More information

DeMystifying Data Breaches and Information Security Compliance

DeMystifying Data Breaches and Information Security Compliance May 22-25, 2016 Los Angeles Convention Center Los Angeles, California DeMystifying Data Breaches and Information Security Compliance Presented by James Harrison OM32 5/25/2016 3:00 PM - 4:15 PM The handouts

More information

Overview: Compliance and Security Management PCI-DSS Control Compliance Suite Overview

Overview: Compliance and Security Management PCI-DSS Control Compliance Suite Overview PCI DSS stands for Payment Card Industry Data Security Standard. It was developed by the major credit card companies as a guideline to help organizations that process card payments prevent credit card

More information

DATA PROCESSING TERMS

DATA PROCESSING TERMS DATA PROCESSING TERMS Safetica Technologies s.r.o. These Data Processing Terms (hereinafter the Terms ) govern the rights and obligations between the Software User (hereinafter the User ) and Safetica

More information

ISACA Survey Results. 27 April Ms. Nancy M. Morris, Secretary Securities and Exchange Commission 100 F Street NE Washington, DC

ISACA Survey Results. 27 April Ms. Nancy M. Morris, Secretary Securities and Exchange Commission 100 F Street NE Washington, DC 3701 Algonquin Road, Suite 1010 Telephone: 847.253.1545 Rolling Meadows, Illinois 60008, USA Facsimile: 847.253.1443 Web Sites: www.isaca.org and www.itgi.org 27 April 2006 Ms. Nancy M. Morris, Secretary

More information