An interesting topic that we will discuss in this article is information security governance. Why is it important and its advantages?
The Information Security Governance
Information security governance is the process of managing the risks associated with the use of information technology. But it has a broad meaning.
The NIST Definition of governance is a process that is effective and efficient. In terms of the setting and achieving of performance goals and objectives. Also, it is oriented to the achievement of outcomes.
Achieving outcomes requires the effective use of resources, often obtained from outside an organization. So usually in exchange for some form of value.
Effective governance requires identifying the values that are important to achieving outcomes. Then developing and implementing processes that align and integrate resources and processes that will achieve those values.
Information security governance is defined as the set of the following:
- Rules,
- Processes,
- People,
- roles and
- responsibilities
So these sets of standards are for ensuring accountability for information security within an organization. This is typically expressed in policies, procedures, standards, guidelines, and metrics.
Hence, we would like to know how important it is to apply this information security governance?
10 Important Reasons
Let us look at the following ten reasons why information security governance is important:
1. It ensures compliance with regulations like SOX, PCI, and HIPAA.
2. It reduces the level of risk of data breaches and other security incidents.
3. It reduces the cost of adherence to regulations and adherence to internal security policies and procedures.
4. It enabled improvement of security culture and environment. So by providing a framework for continuous improvement through excellence and innovation.
5. It encourages sharing of best practices and lessons learned. It is for continuous improvement in information security practices across an organization.
The Risk Management Important Reasons
6. It helps in risk management by the following:
- identification of risks,
- reporting of risk,
- developing plans to address risks,
- managing risks by the plan,
- monitoring risks by the plan,
- controlling risks following the plan.
7. It helps in conducting audits by identifying internal controls needed for the following:
- internal controls testing,
- internal controls assessment reporting,
- conducting internal controls testing,
- evaluating the effectiveness of controls
It is based on internal controls assessment reporting. These processes are recommended by regulators like SOX, PCI, HIPAA, etc.
8. It helps in developing a methodology for the following:
- risk assessment,
- risk management,
- due diligence,
- security policies and procedures,
- metrics,
- security control assessment,
- and security control monitoring
9. It enables an organization to maintain accountability for information security.
Accountability framework, which is based on the identification of key roles and responsibilities within an organization. This is important because it makes clear who is responsible for what and how to ensure that rules and processes.
10. It helps in the achievement of organizational outcomes and objectives. This is achieved by ensuring that organizations have a clearly defined mission and strategy.
So with identified values and objectives. This makes it possible to identify the activities and resources needed to achieve those values and objectives.
