White Papers for Health Insurance Portability and Accountability Act (HIPAA)

Managing IT Security Risks

CA

A number of industry and market factors have increasingly caused the management of corporate risk to become a critical issue for business executives and corporate boards. Not the least of these has been the increased scrutiny for all company activities in the form of legislative and industry mandates. In addition, the increased visibility, and catastrophic financial effects of a number of recent corporate security breaches have made the management of risk of all types into a front-burner issue for all corporations. Possibly the most important element of any enterprise risk management (ERM) program relates to IT security risks.

The most important elements of IT security risk management involve protection of critical corporate assets, and the continual availability of IT services. If the risks inherent in corporate asset protection and service continuity are properly mitigated and minimized, the overall risks to the corporation are significantly reduced. In addition, reducing IT security risks through the adoption of strong internal security controls makes the task of regulatory compliance much easier.

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