Top FAQs for Compliance Assessments

January 8, 2020
Compliance assessments are a reality of life in the modern business world; yet many companies fail to satisfy the required regulatory standards and must face hefty fines and other penalties. Complying with standards such as HIPAA and others is absolutely essential for the safe keeping of digital assets and confidential information.
Why is it then that organizations trip up on this very important issue? We fear it’s primarily because compliance rules and security policies can be overly complex, and this acts as a deterrent for many organizations on the road to compliance. Further, compliance assessments are viewed as something akin to exams which you must pass or be penalized severely.
This need not be the case, however. Compliance assessments should instead be viewed as a most vital part of ensuring the safety of your digital assets. To help you further understand what compliance assessments are and why you need them, here are the top FAQs that can help you with the process.

What Is A Compliance Assessment, Exactly?

A compliance assessment is essentially an appraisal of your organization’s digital assets to ensure that they are working according to the established standards. Put more succinctly, compliance assessments serve the purpose of determining whether you meet the regulations and rules established in compliance documents such as HIPAA or FISMA.

What Purpose Does It Serve?

Strictly speaking, a compliance assessment gauges whether there are any gaps between your established security controls, and what is required by law. It should not be compared to a risk assessment which is intended to identify any risks to which your assets may be exposed.However, it should be kept in mind that if gaps are revealed in your security systems then there is bound to be morerisk directed towards your infrastructure

Where Can I Get Guidance?

There’s no guide like experience, and if you’ve had the chance to be involved in compliance assessments previously then you can act as the guiding light. Otherwise it is prudent to hire external help to give you the right direction in this matter.Experts can guide you regarding which compliance rules you need to fulfill to ensure the smooth operation of your business.

Can Non-Compliance Attract Fines?

Absolutely! Non-compliance issues are viewed seriously by the authorities and businesses are severely penalized if any laxity or wrongdoing is discovered on the part of organization in implementing the requirements. In fact, non-compliance can, and does, attract monetary fines together with legal problems and a harrowing experience.

Do I Need Compliance Assessments?

To a large extent this depends on the nature and location of your business. For detailed information, consider talking with consultants who are subject matter experts and have meticulous experience regarding the rules and regulations.
We live in disruptive times, both in terms of humanity as well as technology. In such a scenario, to ensure the safekeeping of your digital assets, compliance assessments are a necessity you cannot do without.

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