Why do you need Compliance Risk Assessment ?

Every company follows certain processes and policies to mitigate the risk of confusion, corruption and government policy violation. These policies and process provides clear direction to handle all possible risk scenarios a business can come across.

  • Being compliant to Governmental, Environmental, Legal, Financial and Business policies saves lot of time and money and save businesses to incure heavy penalities.
  • Being comliant makes your company trustworthy
  • Being compliant helps in taking informed decision and any policy change becomes easy

Who requires Compliance Risk Assessment ?

Digitalization bring every small or big organization at global stage where doing business across globe becomes as easy as registering yourself on a social media platform. So practically every business seeking recognition, reputation of a brand, security for clients information, standard financial policies, environmental responsible and risk free Company , requires Compliance risk assessment.

Following are the common risks that requires certain set of compliances –

  • Legal & Financial Liability related risk
  • Data security risk
  • Business goodwill risk
  • Product/Service quality risk

What are the type of Compliance Risk Assessment ?

Although its not mendatory to get Compliance certificate for a company but it certainly brings you in good books for Clients, Insurance companies, Investors and regulatory bodies.

We can categories compliances in majorly 3 different types of compliances

  • Corporate Compliance
  • Healthcare Compliance
  • Business Specific Compliance (Banking, IT and Privacy)

Most popular compliance audits

Compliance Audit Applicability Checks on

S.NCompliance Audit Introduced RegionWho shall ComplyApplies to
1Health Insurance Portability and Accountability Act (HIPAA)1996USHealth insurers
Health care clearinghouses,
Health care provider
Any company that handles protected health information for clients in healthcare treatment, payment, or operations
2General Data Protection Regulation (GDPR)2018EUAll Organization catering Citizens of Europian UnionAny organization in the world that collects or processes data related to citizens of the EU.
3Payment Card Industry Data Security Standards (PCI DSS)2004GlobalCompanies using online payment FacilityAnyone who processes payment cards, including merchants, financial institutions, and point-of-sale vendors, as well as hardware and software developers who create the infrastructure to process payments.
4SOC 2 GlobalIT Companies
E-commernce Companies
service providers who store customer data in the cloud and requires them to follow strict policies and procedures to protect information security.
5International Organization for Standardization (ISO)1947GlobalAll organizations producing any product or serviceRegulate industry standards to align business practices and resolve interoperability issues among equipment and practices.an focuses on total quality management 

How we help you get compliance certified ?

Apstia uses complex monitoring and assessment technology for IT infra audit to make your company compliance assessement ready in matter of day. We follow transparent workflow to make any company compliance ready with our automated monitoring and security algorithms.

Follow 5 simples steps to get compliance assessment ready

  1. Bring Assets onboard
  2. Select Compliance Certificate ( SOC2/ HIPPA/ PCI-DSS, ISO)
  3. Run Compliance readyness audit
  4. Check Audit status and resolve pending compliance with Apstia’s automatic patch functionality
  5. Live status of Compliance assessment readiness