Why Compliance Pays: Reputations and Revenues at Risk - Research Report

August 9, 2007; 05:19 AM

DES MOINES, USA – Few days back the IT Policy Compliance Group publicized the availability of its latest benchmark research report titled “Why Compliance Pays: Reputations and Revenues at Risk.” The report clearly demonstrates 9 in 10 organizations are exposed to financial risk from data lost or data stolen due to not leveraging compliance and IT governance procedures. It further reports organizations with the best IT compliance results have the least business downtime from IT security events.

The research shows that successful firms, those with the fewest data losses and thefts, are driving operational excellence in IT by improving compliance results, especially in IT general controls and IT security controls and procedures. More notable, the benchmarks show the least data loss among firms that are monitoring and measuring controls against objectives consistently, at least once every two weeks.

“An effective IT governance process with concise IT control objectives, along with the right mix of built-in IT controls, allow businesses to set policies and measure against those policies in a consistent manner,” said Everett C. Johnson, CPA, International President of ISACA and the IT Governance Institute. “By creating a measurable and repeatable IT compliance program, businesses are able to adequately produce data and ensure a high level of compliance.”

Based on what is working among organizations with the fewest data losses, the IT Policy Compliance Group report identifies several practices that can assist businesses with improving IT compliance results, reduce business downtime, and reduce data loss and theft. These steps include:

• Implementing more and appropriate IT controls
• Reducing control objectives, making it easier to communicate, measure and report against
• Establishing higher standards for performance objectives
• Encouraging a culture of operational excellence in IT
• Conducting monitoring, measurement and reporting of controls against objectives at least once every two weeks
• Allocating more spend to controls automation

In addition to spending larger percentages of the IT budget on IT security controls, the firms with the fewest undisclosed latent data losses and least number of compliance deficiencies are reallocating monies away from external contract spend towards additional funding of equipment and software, specifically targeted at automating the monitoring and measurement of controls and procedures.

To view the research report, please visit http://www.compliancehome.com/symantec/compliance.html

ABOUT Compliancehome.com

www.ComplianceHome.com is the online regulatory compliance portal focused on delivering the latest news, events, white papers, webinar, audio conference, seminars, articles, products and vendors, and jobs related to compliance of HIPAA, SOX, FISMA, GLBA, FFIEC, FDA, Basel II, OSHA and ISO 17799.

Contribute to our website:

• Add your White papers for free: www.compliancehome.com/submit/whitepaper.html
• Submit Events for free: Training, Conference, Seminar, Webinar, Audio Conference: www.compliancehome.com/submit/event.html
• Submit Resources: Articles, Archived Webinars & Audio Conferences, Regulation Overviews and PowerPoint Presentations: www.compliancehome.com/submit/resource.html
• Add Products and Services: www.compliancehome.com/submit/product.html
• Add Press Releases: www.compliancehome.com/submit/pressrelease.html

About Supremus Group
Supremus Group is focused on the Compliance training, consulting and business process outsourcing services. Our aim is to offer practical, customized and affordable solutions in timely manner.

www.ComplianceHome.com is the unbiased and independent corporate compliance resource for information regarding government regulations portal focused on delivering the latest news, events, white papers, articles, products and vendors, and jobs related to HIPAA, SOX, GLBA, FISMA, FDA, FFIEC, OSHA and ISO 17799 compliance.  If you have articles, white papers, conferences, events, seminars, online training, news, compliance related training or have web content we should link to, that you believe our visitors would find of interest, please visit any of our submit pages and submit your information.

Focus of www.Training-HIPAA.Net website is on helping healthcare organizations meet compliance, in a timely and cost effective manner by offering a broad portfolio of products and services to help with HIPAA Compliance. We provide HIPAA compliance kits, manuals, training, templates and compliance consulting services to help make your HIPAA compliance efforts successful, self sufficient and cost-effective. Thomson Corporation (www.thomson.com) has partnered with Supremus group to update their HIPAA manuals.

www.itglobalsolution.com provides solutions like Search Engine Optimization, Internet Marketing Services SEO Consulting, PPC(Pay Per Click), Link Exchange, Website Designing and Development, data conversion, Website Testing on Search Engine Marketing platform for websites / portal globally. Our SEO Services guarantee top 10 search engine ranking in major search engines like Google, Yahoo, MSN etc.