Data plays a crucial role in organizational operations, with a significant surge in volume in recent years. Securing this data is paramount, underscoring the importance of IT compliance regulations and strategies. Adhering to business security regulations not only elevates security standards but also boosts productivity, making an IT compliance strategy a foundational aspect of data management and protection.
1. The Sarbanes-Oxley Act
This piece of legislation was developed in 2002 to ensure revenue transparency between companies and their shareholders.
The impetus for this regulation was a series of infamous financial reporting breaches due to misleading records of revenue. Companies such as Enron and WorldCom became cautionary tales in these breaches which ultimately led them to bankruptcy.
While this regulation largely addresses financial reporting departments IT is an integral part of maintaining those financial records.
Since the Act stipulates that companies must preserve records for at least years IT compliance means using the necessary data protocols to protect that information.
2. IT Compliance for BYOD
As the world grows more and more centered around technology easy access to that technology becomes more of a priority.
BYOD less of a universal regulation and more of a policy that heavily ties into IT compliance with the increasing use of personal devices in corporate spaces.
It stands for "bring your own device" and encourages employees to have easier access to corporate data through their mobile devices.
In terms of IT compliance BYOD protocols can be quite liberal or limiting depending on your company's attitude toward privacy and access.
For instance a more restrictive protocol could give IT more selective control over certain data or apps on employee personal devices. Or IT could use a data container to limit data storage on personal devices.
More relaxed IT compliance protocols might include unlimited access to enterprise data and resources. While this offers tremendous convenience for employees it means that company systems are highly susceptible to loss of information or theft.
A better-controlled environment could give employees access to non-sensitive data instead of all data at once.
The freedom of using personal devices naturally increases security risks. The only way to prepare for these vulnerabilities is to implement the right restrictive protocols.
Modern tools such as Google Mobile Device Management allow IT systems to remotely enable or decline access to corporate resources from mobile devices.
3. GDPR
Personal data doesn't always translate to confidential data. In fact this is the basis for many privacy issues in corporate spaces. The GDPR or General Data Protection Regulation proposes much broader definitions to determine what personal data is.
The GDPR's definition of personal data includes any data that can be used to identify an individual. The umbrella of possible identifiers is fairly large.
Although the GDPR was established by the EU to protect personal data in European Nations the regulation applies has a global application as well.
If your business handles any personal data from individuals who live in an EU country you are expected to comply with the GDPR. This includes transactions between employees or customers based in an EU country.
The Development of IT Compliance
IT compliance evolves alongside organizations' successes and mistakes. No organization is perfect, but regulations promote accountability, protect company assets, and ultimately ensure more security through IT compliance regulations and business security regulations.
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