How and when Businesses choose to allocate information technology spend can pose many challenges and risks. Organizations must strike a balance by achieving the right control environment through risk mitigation, visibility and consistent quality, and the right efficiency across processes and systems, while creating the right value for the business at lower cost. Companies that get it right and keep it right are positioned to see their investments in information technology become truly transformational.
Ensuring spend is linked to Risk is the key – in both Opportunity Risk and Risk mitigation. Delivering value whilst driving the Business forward is the answer. Ensuring spend is linked to value is the result.
In the current economic conditions shareholders, regulators and professional bodies are taking greater interest in not only how companies derive, report, disclose and communicate their financial position but in how opportunities have been addressed. This environment is driving extensive change across both accounting and stakeholder demands.
The current environment requires businesses to be able to address the concerns of their stakeholders and be prepared to change processes in order to adapt. This will allow them to ensure they are positioned to respond to market demands both now and in the future.
I.T. Risk Assurance permits management to make well-informed decisions. Well-informed decisions make for better business. The insight and independent assurance we bring provides an invaluable safeguard in today’s complex Business environment. As your IT systems are a fundamental part of your organisation and therefore your decision making, it makes sense to have the assurance that those systems are operating as they should. In this way, you – and your customers, shareholders and regulators – can trust the decisions you made.
How can we help?
GDPR Compliance Audits
Market Street is at the forefront of helping organisations globally address the challenges of ongoing GDPR compliance. We offer comprehensive solutions, services and expertise to help you both meet and maintain your GDPR Compliance Programme. Through our Audit & Assurance Services we offer the opportunity to meet with our team of industry experts, trained and approved by us, delivering relevant, targeted advice. Our Consultants can guide you through the process of creating a Privacy Compliance Framework (PCF) aligned to the Information Commissioner’ s Office Auditing standard.
The PCF includes the following;
- Creation of a Governance Framework
- Demonstrating accountability
- Identifying and implementing Information Security needs
- Implementing Privacy by Design
- Demonstrating Records of Processing Activities (Article 30)
- Conducting DPIAs (Article 35)
- Implementing a continuous improvement process
- Staff Training guidelines
- Streamlining internal/external audits
- Mitigating Privacy Risk
Technology Risk Audits
Technology is essential to running a business and the slightest disruption can have catastrophic results. Ensure you can head problems off before they occur by identifying and managing your IT risks. From protecting your organisation from fraud to spotting vulnerabilities in your IT network, MSC’s range of assurance services can help you manage risks more effectively. We work with you to provide assurance and advice to help you manage and mitigate your risks so that you can move forward with confidence.
Effective I.T. Risk Management delivers many benefits to modern organisations. Implementing physical safeguards such as Perimeter fencing, Security guards and CCTV will keep out the intruders. Implementing secure door systems and enforcing the use of User I.D.’s and password combinations is also a great move but it takes only one disgruntled employee to discover that you have insecure USB drives or inappropriate Policies around the removal of privileges and those safeguards can become worthless.
Best practice in I.T. Security, Data Leakage Prevention strategies and Information Governance can restrict the damage that Users can do to your systems if they decide to cause you harm. By restricting User activities to only those required to conduct their daily tasks, limiting access to data files based on Role and reducing the landscape in which teams operate, Risk is vastly reduced. By implementing monitoring of user activities, systems can also identify anomalous behaviours, shutting down access before harm can be done. Correctly functioning Audit capabilities can also track actions to an individual for investigations and disciplinary action.
Helping Businesses to realise the effectiveness of data leakage prevention through the introduction of intelligent technologies and policy definition is now a fundamental part of our business offering.