Tag: governance risk and compliance

GRC and the Adversity of Not Meeting Its Requirements

When it comes to risk management compliance, every business entity is concerned about meeting all the requirements because governance, risk, and compliance have a great impact on the small workflow offer business entity. This is why it has always been important to hire consultants to supervise these important domains. But on one hand where most of the firms are looking for the best suitable candidate for the organisational structure, there are certain business entities who are still not taking GRC seriously enough. In a recently published article in 2017 it was estimated that almost 57% of senior level executives believed that risk management and compliance are two of the most crucial categories have that are prone to risks. According to them, they are least prepared for any mishappening in these two domains. The severity of the situation can be gauged we take a look at a research report published in 2019 dad mentioned that only 36% of organisations have a formal enterprise risk management programme installed within their structure. What do these statistics say about the service seeking firms? When we understand that the global market is full of business entities who are not being able to come up with compliance strategies, we figure out that a consultant is facing some difficulty in reaching out to those companies and making them aware about the severity of the situation. But it is not entirely the fault of the consultancy organisations that certain companies are not facing success in terms of GRC. The companies themselves are equally responsible for this adverse scenario because, at the end of the day, it is these organisations and their expertise when it comes to hiring GRC consultants for their firm. For example, we at Assured GRC, are focused on mitigating any issue that might come up in the global market; but, if the companies are not opened to hiring consultants, there is nothing much we can do after that. In other words, business entities around the world should understand that GRC is important for their existence and hiring consultants is the most effective way of meeting all the requirements in that respect. It is now or never Let us take risk management for example and understand why it is high time for every business entity to focus on hiring a risk management consultant. As we earlier discussed in this article, according to certain sources, only 36% of organisations have installed a formal enterprise risk management programme within their structure. Apart from that, 62% of the companies have had an experience of witnessing a dreadful risk event in the past three years. Now, this is an excerpt from an article published by the same source. In a nutshell, we can agree to the fact that when it comes to statistics about these topics, every source in the past have few years has garnered enough material to unleash the fact that every firm is at default and the situation is worsening with each passing year. One of the main reasons why Assured GRC is focused towards maintaining the supremacy of consultancy services is the cause the list of prospective clients is set to grow at an exponential rate. as a consultancy firm, we understand that we are required to study all these statistics so that we can understand the cruciality of our role. And this is why, we believe in continuously improving our consultancy services so that the consultancy service seeking organisations who hired us are not at all disappointed by the expertise that we offer to them. If yours is an organisation that is looking for expert consultants to meet all the requirements of governance risk and compliance, you can hire Assured GRC and reap the benefits of the expertise that we hold. As far as consultancy services are concerned, you should always look for the best candidate out there and assured GRC is always out there to fulfil your need for the same. Our services like gap analysis and continuous audit helps us in preparing your photo for all the threat or risk that you might get exposed to. Call us today at +44 (0)203 4759 932 and give us the opportunity to serve you the best consultancy services that you can ever get.

How Cyber Attacks are Hampering The Entire GRC Model of An Organization

Whenever we talk about cyber security attacks and their penetration on the overall market, we base our analogy on the freshly updated statistics laid down by credible sources all on the digital and print media. But even after taking a look at them, many organizations still lack the attention they need to put while maintaining their network infrastructure., When it comes to protecting your organization against a particular kind of cyber attack, the entire process is dependent on the fact that you assess the threat in the nick of time. But that’s where the organizations and the digital risk management consultancy services face the problem. FACTS SUPPORTING THE ISSUE AT HAND When it comes to cyber attacks, one thing that remains constant in each of the cases is the fact that none of the professionals or organizations has exactly identified the threat, at the point of breach. The fact that 2019 alone suffered from a loss of $470 million in spoofing frauds, is the proof that the attackers might have access to their surrounding network pretty easily. With being said, every network in a stipulated area is exposed to the threat of being monitored by these attackers. The procedures have been improving from their end, and have turned out to be immaculate enough to avoid any breach of identity, in any scenario whatsoever. If we take a look at some of the common attempts of scanning and breaching a particular network, everything from network mapping till hacking the particular network counts as viable aspects to consider. But the fact that everyone is aware of these terms doesn’t really assure their security. When we take a look at the risk management services being extended to a stipulated organization, these attacks harm them the most. RISK MANAGEMENT AND CYBER ATTACKS Risk professionals work tirelessly to mitigate any potential threat headed towards the organization. But they can’t really do their job if they have the fear of being watched by an anonymous third-party entity. Considering the current market scenario, as the workforce of an entire organization has moved to the remote platform, the threat of being attacked has risen too. According to a research report published by Check Point, Apple, Netflix, and Yahoo have collectively reported 25% of all the brand impersonation fraud via phishing attacks in the first quarter of 2020. Netflix, who was on 7th rank last year, topped the chart as of now, with almost 10% of the entire brand impersonation attacks happened till now. This shows it’s not only about the risk management services but the entire GRC model of the organizations that is being targeted by these attackers. We all are aware how important an addition cyber-security risk management is in the risk management model of an organization, but when we trace the severity of these attacks, we can notice how the governance risk and compliance altogether have been impeached by these attackers, simply by keeping an eye on each movement in the stipulated LAN of the organization. Let’s suppose all the employees who have been working remotely since the past six months, suddenly have to be cautious just because a group of hackers might be watching every step they take. This jeopardises all the functions because it creates gaps between the actual point of initiation and the time of delivery. If everyone in an organization have to be sure whether or not a particular file, document, or image is secure, it will be reflected in the delay of shift timings of the firm. On the contrary, if the top-level management directs their subordinates to take all the possible measures to secure themselves, and carry on with the work, it might lead the organization to face a serious cyber attack that might erase its entire existence from the market. WHAT SHOULD BE DONE? When companies like Netflix and Yahoo have successfully become the target of such heinous attacks, the only others can do is learn and try to be more resilient while devising cyber-security measures. On that note, if you want to make your overall network infrastructure stable enough to survive such attacks, you might take a look at Assured GRC and our expert consultation services that covers all aspects of cyber-security and risk management. Call us at +44 (0)203 4759 932 and enjoy our services today.