IT Compliance

Managing compliance status to Sarbanes-Oxley (SOX), Payment Card Industry (PCI) standards, Health Insurance Portability Accountability Act ) (HIPAA), Foreign Corrupt Practices Act (FCPA), and state privacy laws, is a daunting tasks for organizations today. Moreover, existing regulations are constantly changing and new regulations are coming out regularly. At the same time however, organizations must additionaly comply with contractual obligations and their own policies and procedures. Complying with all these requirements can not only help companies reduce the risk of legal woes but actually improve their business posture by better defining internal processes around disciplines, including IT management and security.

The challenge is to know what compliance regulations that your organization is subject to, whether it is compliant, and how it should report on compliance. Some requirements such as SOX do not specifically tell you what to do for compliance whereas requirements such as PCI are very specific. The result is a complex compliance environment that organizations are spending a lot of money and time-consuming efforts on hoping to achieve and maintain compliance.

How do you manage your organization AND all the ever changing compliance programs, each with their own unique facets? How do you keep the cost of compliance down?

The key lies in developing a compliance program that focuses on automating controls and the audit process, lowering the cost of compliance through efficient use of IT, and lastly, the efficient use of internal and external people resources. Developing a sustainable and repeatable compliance program that integrates all compliance regulations and their controls to minimize the daily cost of performing the controls and auditing them.

If you are interesting in lowering your cost of compliance, outsourcing IT audit or retaining a Virtual Compliance Officer (VCO)  that can manage and monitor your Compliance Program, contact GRC Consulting Services and we will assist your organization in understanding your compliance environment and map out a process to mature your practices.

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