Attack vectors such as ransomware attacks, stolen or compromised credentials, and misconfigured networks were identified as costly additions to damage costs, with business email compromises (BEC) being the most expensive cause of a data breach due to the resource-intensive nature of the clean-up process.

How Much Does a Data breach cost

The “Cost of a Data Breach Report” also reveals the cost of data breaches in Australia. According to the report, the average cost of a data breach in Australia is AUD $3.35 million, with compromised credentials being the most common cause. The report states that 80% of data breaches resulted in customer data being accessed by an unauthorized third-party, leaving organizations liable to further punitive measures from regulators. In addition, the report shows that the COVID-19 pandemic has impacted the cost of data breaches, with remote working increasing the time taken to identify a breach and adding an extra cost of AUD $137,000 per breach.

The True cost of data breaches

The true cost of a data breach is not just financial; it can also result in reputational damage and loss of trust from customers. The report highlights that organizations with an information security management system or similar were spared millions of dollars in further damages in the aftermath of a data breach. On average, the cost of a data breach for organizations without an incident response plan or dedicated team is AUD $5.2 million, compared to just AUD $2 million for organizations with an information security plan and specialist team. The report emphasizes the importance of data protection and being proactive and prepared when it comes to cyber risks.

ORGANISATIONS WITH AN INFORMATION SECURITY MANAGEMENT SYSTEM OR SIMILAR WERE MILLIONS BETTER-OFF.

Authors of the report made it clear that organisations that were proactive and prepared when it came to cyber risks were spared millions of dollars in further damages in the aftermath of a data breach. On average, costs associated with a data breach for organisations with neither an incident response plan or dedicated team are said to be $5.2 million, compared to just $2 million for organisations with an information security plan and specialist team. 

“When it comes to businesses’ ability to mitigate the impact of a data breach, we’re beginning to see a clear advantage held by companies that have invested in automated technologies,” Wendi Whitmore, Vice President of IBM’s X-Force Threat Intelligence said. 

“At a time when businesses are expanding their digital footprint at an accelerated pace and the security industry’s talent shortage persists, teams can be overwhelmed securing more devices, systems and data. Security automation can help resolve this burden, not only supporting a faster breach response but amore cost-efficient one as well.”

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However, this might not be as simple as it may sound, especially if there isn’t an ISO 27001 certification checklist in place. A proper checklist will help streamline the certification process and ensure appropriate resource allocation.

If you’re interested in the standard, we’ve created a 7-step ISO 27001 requirements checklist to guide you.

7 Step ISO 27001 Certification Checklist

1. Assign Roles

First, you need to assemble an implementation team and assign specific roles to each member. Appoint a team leader to manage the implementation of the information security system. The leader must be highly knowledgeable in information security matters and able to lead a team and collaborate with managers.

2. Create the Implementation Plan

The second step involves planning for the implementation of the ISMS. The project manager will lead the implementation team to define the information security objectives and create a risk register as well as an ISMS plan which includes:

• Roles and responsibilitiesCommunication through internal and external channels
• Methodology for its continual improvement

3. Define the ISMS Scope

This involves defining the information security management system (ISMS) framework to help you gain a broader understanding of how the standard works. Create standards, policies, procedures, and guidelines that align with your information security system. Ensure the ISMS scope is correctly defined to avoid making it too small or too complex to manage.

4. Develop a Risk Management Process

The sole concept behind an ISMS is risk management. Most aspects of your ISMS are based upon the risks and vulnerabilities detected, making risk management a key factor for any company seeking ISO 27001 compliance.

Implementing this standard can help define your risk management processes, which technically involve five steps:

• Develop a risk evaluation framework
• Identify risks
• Assess risks
• Evaluate risks
• Choose a risk management approach

5. Implement a Risk Management Plan

Once you develop a working risk management process, you should consider implanting a risk management plan to ensure potential risks are put at bay. This may include developing and implementing appropriate security controls to mitigate the identified risks. These controls should include both technical and organisational.

6. Conduct an Internal Audit

Conducting an internal audit is essential as it helps prepare your organisation for the official audit. It is also an excellent way to test your new system to know if your controls are working appropriately. An internal audit can be conducted by an independent external auditor or an internal team that was not involved in documenting and setting up the ISMS.

7. Engage an accredited certification body

It is important to find an accredited ISO Certification Body like Best Practice Certification. Once you choose a suitable Certification Body, technically known as a Conformity Assessment Body (CAB), they will provide you with an ISO 27001 lead auditor to complete your audit. The auditor will focus on two critical areas. First, they will evaluate your documentation to ensure it’s in good order. Second, they will check your controls to see if they are being followed. Then, you will be given a list of non-conformities that should be addressed before being awarded ISO 27001 certification.

How Best Practice Certification Can Help

Contact Best Practice Certification if you are ready to implement your ISO 27001 certification checklist. We offer exclusive training and support systems to help on your certification journey and ensure maximum information protection.

Download ISO 27001 Gap Analysis Checklist

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Cyber Resilience Defined

Cyber resilience is focused on increasing the ability of critical infrastructure and business processes to absorb and respond to cybersecurity incidents while maintaining continuous business operations. It is an organisation’s ability to manage and adapt to changing circumstances and rapidly recover from disruptions caused by a cyber incident

Achieving cyber resilience requires organisations to plan for, prevent, respond to, and recover from cyber threats, security incidents, and cyber attacks. Creating a comprehensive cybersecurity plan with a robust cyber resilience strategy can protect your confidential data from malicious actors and guarantee your organisation’s ability to remain operational during difficult times.

How is Cyber Resilience Different From Cyber Security

The difference between cyber resilience and cyber security lies in focus on the result. Cyber security is focused on preventing cyber threats from compromising your organisation’s data, while cyber resilience is focused on how your organisation can continue operations after a cybersecurity incident.

In other words, cyber resilience requires an extensive understanding of an organisation’s critical infrastructure, business processes and information security systems to ensure they can be maintained if disrupted.

When it comes to data and operations security, having a focused and well-defined cyber resilience strategy that incorporates best practices helps organisations ensure they are prepared for any cyber attack or security incidents.

This strategy should include specific goals and intended outcomes related to responding to and recovering from threats or incidents quickly and effectively with minimal business continuity risk. Ensuring you have a comprehensive plan will help protect your organisation from malicious actors and prevent losses due to cyber risks.

Building an Effective Cyber Resilience Strategy

To create an effective cyber resilience strategy, you need to:

• Identify critical assets and determine each asset’s key roles in your organisation’s operations.
• Analyse and prioritise the potential threats and vulnerabilities that could affect those assets.
• Develop plans for responding to a cyber incident.
• Establish processes for monitoring performance, assessing progress, and improving risk management efforts throughout your organisation.

An effective cyber resilience strategy should include the steps to dealing with a potential or real cyber incident. These steps include:

• Gathering enough information to characterise the threat
• Invoking business continuity processes
• Activating response teams
• Containing, mitigating, and eradicating the threat
• Recovering critical systems
• Re-establishing normal operations
• Fully remediating any residual threats or problems
• Analysing and learning from the incident

An effective plan can help your organisation respond more quickly and efficiently in times of crisis and better protect against future risks or cyber threats.

Contact us Today for ISO Certification

You already know what cyber resilience is, but did you know that attaining ISO certification is the most effective way to ensure your organisation’s cyber resilience? Becoming ISO certified for cyber security involves having policies, processes, and a system that continuously monitors, identifies, and manages cyber risks.

The team of experienced professionals at Best Practice Certification can help you achieve your desired ISO certifications. These experts know the right steps to take so you meet every requirement to achieve your data security goals. Contact us today to discover more about how we can help.

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Business Continuity Management (BCM) is an essential process within ISO 27001 that helps companies recognise potential risks to their operation and develop strategies to ensure continued business in case of an emergency.

This process helps organisations to identify risks, prepare for the risks, respond, and recover from disruptions. It involves the implementation of controls, such as personnel training, data backups, and disaster recovery plans, as outlined under Annex A.17 of Annex A controls.

What is Annex A.17?

This is a document that provides the guidelines for policies and controls for a company’s business operations continuity regarding its information systems. It outlines how informational assets, data, and systems can be continued during disaster recovery.

What Are The Annex A.17 Controls?

Annex A.17 of ISO 27001 consists of four controls:

A.17:1 Information Security Continuity

These controls are related to the formulation, implementation, and maintenance of an information security system. It ensures that the continuity of an information security system is incorporated into a company’s business continuity program. This clause is further divided into three sub-controls:

• Annex A:17.1.1 Planning Information Security Continuity – If you’re planning to implement ISO 27001, you need to establish the guidelines for information security. This control requires organisations to implement a recovery plan to prevent or avoid potential uncertainties.
• Annex A:17.1.2  Implementing Information Security Continuity – This control requires an organisation to implement and maintain procedures and processes to ensure that the recommended level of continuity for security is attained.
• Annex A:17.1.3 Verify, Review, and Evaluate Information Security Continuity – An organisation’s control measures must be evaluated from time to time to ensure they are effective. They should be tested and maintained according to the organisation’s risk-based requirements.

A.17.2  Redundancies

The purpose of this control is to facilitate the reliability and availability of information process systems with minimal complexity. It helps to prevent disruption events of system operations in the event of a disaster or technical failure by ensuring continuity of service. Redundant items must be tested periodically and be appropriately documented for audit purposes.

The Importance Of Business Continuity Management In Business

Business continuity management is important for an organisation because it facilitates the continuity of business operations in case of an emergency or unexpected disruptions. It identifies, plans for, and prepares an organisation for any disruption that could impact its operations, products, or services.

Businesses are vulnerable to disruptions, emergencies, and other risks. It is important for your organisation to be able to recover quickly from any disaster so that its operations and activities can continue. This can help keep the business running smoothly, and its customers will remain satisfied.

Organisations can also use business continuity management to protect their reputation and brand by ensuring they are resilient and able to address any situation. In addition, business continuity planning can help ensure that your company is able to recover and restore its functionality quickly.

Effective planning involves risk assessment and evaluation, and steps must be taken to safeguard the availability, confidentiality, and integrity of information systems.

How Best Practice Certification Can Help

If you are interested in ISO 27001 certification, Best Practice Biz can help. As a JAS-ANZ-approved certification body, we are committed to helping your organisation reduce its exposure to information security hazards to protect the integrity of its information assets. Contact us to get started.

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A great way to ensure your organisation has the processes and procedures to protect itself is through achieving ISO 27001 certification. One of the key benefits of ISO 27001 for small businesses is improved data security. The standard provides a comprehensive framework for protecting sensitive information, reducing the risk of data breaches and unauthorized access. This is particularly important for small businesses, as they may have limited resources to devote to information security and may be more vulnerable to security threats. By implementing ISO 27001, small businesses can take proactive steps to protect their information and reduce their risk of data loss or theft.

Another important benefit of ISO 27001 is increased credibility and trust. Having ISO 27001 certification demonstrates a commitment to information security, which can improve the reputation of the company and increase trust among customers, partners, and suppliers. In today’s increasingly connected world, data security is a major concern for many individuals and organizations. By showing that they take information security seriously, small businesses can differentiate themselves from their competitors and build stronger relationships with their stakeholders.

Click here for our upcoming live ISO 27001 training

ISO 27001 also requires regular risk assessments and the implementation of controls to mitigate identified risks. This helps businesses stay ahead of potential security threats and ensures that their information security measures are up-to-date and effective. By implementing a systematic approach to risk management, small businesses can reduce the likelihood of security incidents and minimize the impact of any incidents that do occur.

In addition to improved data security and risk management, ISO 27001 can help small businesses comply with data protection regulations. For example, the EU’s General Data Protection Regulation (GDPR) requires businesses to take appropriate measures to protect personal data. By implementing ISO 27001, small businesses can demonstrate their compliance with these regulations and avoid the significant fines and reputational damage that can result from non-compliance.

Implementing ISO 27001 also leads to improved efficiency. The standard requires businesses to implement systematic processes for information security management, leading to increased efficiency and productivity. This can help small businesses save time and money by streamlining their security processes and reducing the risk of security incidents.

Check out our self-paced ISO 27001 online course

Implementing ISO 27001 can give small businesses a competitive advantage, especially if they operate in industries where information security is a key concern. By demonstrating their commitment to information security and their ability to protect sensitive information, small businesses can win new business and build stronger relationships with their stakeholders. ISO 27001 is an important standard for small businesses that want to improve their information security, increase their credibility and trust, and remain compliant with data protection regulations. By implementing ISO 27001, small businesses can reduce the risk of data breaches, improve their efficiency, and gain a competitive advantage in their industry.

Don’t leave your business exposed! Invest in the safety of your information today with ISO 27001 certification.

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Annex A.9 of ISO 27001 provides guidance on developing and documenting an access control policy for an information security management system (ISMS). This blog post will look at what should be included in an access control policy and how to write one that meets the ISO 27001 standard.

What is an Access Control Policy?

An access control policy is a set of rules that dictate who can access which resources in an information management system. The most basic form of an access control policy is a simple list of users and the resources they are allowed to access.

What Should an Access Control Policy Include?

When creating an access control policy, a few key elements should be included to ensure the policy is effective. First, the policy should identify individuals with privileged access to information, network, and network services within the organisation. These individuals or teams should be designated, and their contact information should be easily accessible.

The policy should also consider how you align your information scheme and security requirements. It would be best if you also list the types of data and systems covered by the policy. This will help to ensure that all sensitive information is appropriately protected.

Your access control policy should detail the procedures used to grant and revoke access to data and systems. A password management system, data encryption, and establishing secure log-on procedures can be suitable starting points. This will help ensure that only authorised individuals or information asset owners can access sensitive information.

Finally, the policy should specify how often it will be reviewed and updated. This will help ensure the system’s administration remains effective over time.

How to Write an Effective Access Control Policy

When it comes to writing an access control policy, there are a few things you’ll want to keep in mind to make it as effective as possible. Here are some tips:

• Keep it straightforward – Don’t try to get too fancy with the policy’s language or structure. Keep it concise and easy to understand.
• Tailor it to your specific needs – Every organisation is different, so your access control policy should be tailored to fit the needs of your particular business. There’s no “one size fits all” approach here. Ensure your policy aligns with business requirements and that everyone in the organisation knows what’s expected of them.
• Ensure it is comprehensive – An effective access control policy will determine what types of access are allowed and how they can be granted. It should also detail what happens if someone tries to access something they shouldn’t have.

Once you have your access control policy in place, ensure everyone in the organisation follows it. Having a policy is pointless if it is not being enforced.

Get in Touch with Best Practice for ISO 27001 Certification Today!

If you’re looking to get ISO 27001 certified, one of the first things you need to do is create an access control policy. At Best Practice, we can offer the support you need to acquire an ISO 27001 certification. Contact us today to get a quote.

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A cyber risk assessment is usually conducted by a skilled security expert, and it involves inspecting, testing, and evaluating the existing security infrastructure and policies, as well as mapping any risks, threats, and vulnerabilities. Below, we’ll discuss cyber risks and what you can do regarding the risk management process to mitigate them and protect your information assets.

What Is a Cyber Risk?

Cyber risk refers to the potential for financial loss or a damaged reputation due to data breaches, poorly functioning cybersecurity systems, cyber-attacks, or other cyber-related threats. The losses can also include data loss and information on your customer or employees. These losses can be either lower or high risk based on the strength of your safety network and the size and nature of the threat.

Whether you are a large or small business owner, it’s essential to check your current information management system frequently to ensure it is efficient and up to date. The best way to do this is through cyber risk assessment.

How To Perform A Cyber Risk Assessment

A cyber risk assessment helps identify vulnerabilities and threats, allowing you to take proactive steps to mitigate the chances of a successful attack. Conducting this assessment means knowing the likelihood of your organisation being threatened, where the weak areas are, and the type of data you should protect. The risk assessment process involves the following steps:

• Identify informational assets – First, you need to identify any asset that can be compromised in a cyber attack. This could be networks, data, applications, or people.
• Identify weakness – Spot any vulnerabilities that could be exploited by cybercriminals, such as weak passwords and a lack of security patches.
• Recognise threats – You should also understand the potential cyber threats that could be used to exploit the identified weaknesses. It is also important to estimate the possible financial and reputational damage that could be caused by cyber-attacks.
• Develop mitigation strategies – Create security strategies to reduce the chances of a successful cyber attack.
• Monitor and control – Monitoring, controlling, and adjusting your strategies can help address new risks.

One of the most effective ways to control cyber risks and protect your informational assets is to obtain ISO 27001 certification.

What Is ISO 27001 Certification?

ISO 27001 certification is a globally accepted standard that provides requirements for an Information Security Management System (ISMS). It sets out procedures and policies that must be followed to maintain secure information systems and safeguard sensitive data.

An information security risk assessment is necessary to ensure your organisation’s practices meet international requirements. Large companies may consider creating an in-house security team to handle the firm’s cyber security needs.

But if you have a small business and cannot afford to maintain an entire IT department, you can outsource this service to a specialised third-party company like Best Practice Certification.

Contact Best Practice Certification For Support

Contact the security experts at Best Practice Certification if you need help conducting a cyber risk assessment. We can evaluate your information assets and advise you on the best solutions to meet your business needs. Contact us today to learn more about our cyber risk assessment services or how to get ISO 27001 certification for the first time.

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ISO, or the International Organisation for Standardisation, has developed popular standards for industries worldwide. Its work has helped to foster easier collaboration between organisations, higher quality products and services for customers, and a more organised business world overall.

In this post, we will focus on one of the most popular standards; ISO 27001. The ISO 27000 standards focus on information security and risk assessment, particularly now that most companies collect and handle sensitive information.

iso 27001 certification by best practice

What Is ISO 27001?

Developed by ISO together with the International Electrotechnical Commission (IEC), ISO 27001 is the leading international standard that relates to cyber risk management and information security. ISO 27001 certifications are issued by certification bodies after conducting external audits.

Implementing ISO 27001 allows companies to develop a standardised and efficient Information Security Management System (ISMS) that ensures customers, employees, and business partners are protected from cyber-attacks and their data is handled appropriately.

Which Factors Affect Your ISO 27001 Certification Process?

Achieving a good certification process requires understanding the main factors that influence the process. Each case is different, so it is impossible to predict a specific time limit that is generally applicable.

1. Your Organisation’s Size

Most of the time, your organisation’s size will directly affect how quickly you can achieve your ISO 27001 certification. You can implement your ISMS company-wide or just in the few areas that might be affected by data breaches, depending on how your company uses data and how broad its scope is.

2. Business Maturity

The best thing about ISO standards is that your organisation will directly benefit from implementing them. Most ISO standards typically align with some of your internal practices. ISO standards are designed to make your activities more efficient, streamlined, less costly, and secure.

If you have just established a new business or did not invest adequately in development, it will take longer to make the relevant changes. A gap analysis will give you a better idea of how ready you are for ISO 27001 implementation.

3. How Many Requirements You Meet

Achieving ISO 27001 certification requires meeting all the requirements defined in clauses 4 to 10. Here is what you need to do to finalise the process of meeting all the essentials:

• Identify the scope of IMS within your organisation
• Establish senior management-level roles and information security regulations
• Draft a risk treatment plan and understand the information security risks
• Set ISMS objectives
• Declare your controls in the Statement of Applicability
• Conduct an internal audit to evaluate your current performance
• Correct processes that are not satisfactory

You can determine how close you are to becoming ISO 27001 certified by assessing your company and identifying the requirements you haven’t met.

4. Senior Management Support

Implementing a standard like ISO 27001 requires adequate human resources and time. If your senior management isn’t dedicated to offering this support, the process can be slowed down or jeopardised entirely. Luckily, this rarely happens since the benefits of getting ISO certified are apparent.

What Is the Timeline for ISO 27100 Certification?

If your company is committed to ISO 27001 certification and already has experience handling information security, the process will take about three months for small organisations and a year for large companies.

Working with an accredited ISO certification body like Best Practice Certification is the best way to speed up the process. We specialise in implementing ISO standards and taking business owners through the process. Get in touch with us today to learn more about how we can help you get ISO certified.

Click Here for Your Free ISO Gap Analysis Checklist

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But is there a difference between ISO 27001 and 27002? In this blog, we’ll discuss the difference between these two standards and how to use them in your organisation to manage an effective ISMS.

What is ISO 27001?

ISO 27000 family of standards is a series of guidelines and best practices created to help companies improve their information security. ISO 27001 is the most popular standard of the ISO 27000 family, which covers the specific implementation requirements for information systems.

It highlights everything an organisation needs to achieve compliance. ISO 27001 is often used at the beginning of a project. However, to fulfil these requirements, your organisation must:

• Perform a gap analysis
• Conduct a risk analysis
• Define the scope of the ISMS
• Develop strict policies
• Conduct staff training
• Choose and apply controls

What is ISO 27002?

This is a series of security guidelines designed to help a company to select, implement, and maintain its ISMS. As a supplementary standard, ISO 27002 is utilized as a guide under ISO 27001 framework for choosing suitable security control in deploying an effective ISMS. The standard describes the objective of each standard, how it works, and how to implement it.

ISO 27001 vs 27002

While ISO 27001 and ISO 27002 are closely related, they have significant differences in terms of applicability, guidelines, and certification.

Applicability

Although numerous information security controls exist, not all will apply to your company. According to ISO 27001 specifications, you must conduct a risk assessment to recognise the potential risks associated with your information security.

On the contrary, ISO 27002 does not define these specifications. And this makes it a little harder to identify which appropriate controls to apply.

Detail

ISO 27001 is not as detailed as ISO 27001, making it precise and less complicated. It only describes individual aspects of an information system, with detailed guidelines being found in other standards.

These additional standards include ISO 27002, a supplementary standard, and ISO 27003, which provides guidelines for ISMS implementation. ISO 27004 deals with the measuring, monitoring, evaluation, and analysis of the ISMS.

Certification

When it comes to certification, you can only certify to ISO 27001 because this standard provides a complete range of compliance requirements. On the other hand, you cannot certify to ISO 27002 since it is a supplementary standard that addresses just a single aspect within an ISMS.

Learn The Basics of ISO 27001 Certification with Best Practice

Best Practice is a JAZ-ANZ-approved certification body that provides ISO certification services in Australia and globally. We can guide and support you through the ISO 27001 certification process to ensure your information system is well-implemented and maintained. Contact Best Practice today to get started.

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However, each of those thirteen controls has sub controls, so in reality, there’s a total of 114 controls in Annex-A of the ISO 27001 standard. It’s important to note that depending on your organization’s requirements, not all controls are mandatory to implement.

However, what you have to do is justify the including or excluding of control. It’s very comprehensive because it’s catered for all types of industries and organizations, not just IT.

You can pick it up and say yes, a whole set of these controls is applicable to my manufacturing process, it’s applicable to my pharmaceutical company, it’s applicable to the hospital or to other industries. That’s why it’s all-encompassing and why you have the opportunity to say well these controls are applicable and these controls are not.

You may not be managing your own data center, you may have an external provider and in which case you can further evaluate whether the controls, in terms of the data center, is applicable to you or not.

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