Making compliance a priority

Certain techniques can help move your business closer to compliance

Data security is a key component of compliance

Every large corporation will tell you that compliance is a big deal. Companies are making their chief compliance offers an integral part of the C-suite, and increasingly complex regulations have made their jobs difficult. But there are strategies that businesses can implement that will do a great deal to move them along the path to compliance. 

The team at itbusinessedge.com has outlined five steps that companies can take to accelerate their path to compliance. They are: 

  1. De-provisioning: It’s never a pleasant time when an employee is terminated. But it’s extremely important for companies to revoke employee access immediately (and completely) upon termination, in order to stay in compliance with federal regulations.
  2. Monitor privileged accounts: It may seem logical that employees with system-level access would be the most trustworthy, but studies show that these privileged accounts are the primary source of security breaches. Keeping tabs on these accounts is essential to data security.
  3. Limit access: It is important to isolate critical company resources. To do this, companies should implement strong authentication processes and review access on a regular basis.
  4. Codify controls: Automated controls can make matters easier when auditors coma around. The ability to generate comprehensive reports that reflect compliance is also key.
  5. Run regular reports: Speaking of reports, running reports that target compliance traps is also essential. Things to look for include guest access, resource control and password reports.

With these in mind, companies can accelerate on the path toward compliance by keeping a lid on data and proving they have done their due diligence.

 

For more stories on the topic of compliance, check out the following:

 

Risk & reward: The evolving role of the chief compliance officer

10 traits of a good chief compliance officer: Lessons from polar exploration

Labor intensive: How to drink from the fire hose of workplace litigation

Senior Editor

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Rich Steeves

Richard P. Steeves is Senior Editor of InsideCounsel magazine, where he covers the intellectual property and compliance beats. Rich earned a B.A. in English Literature...

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