Risk Assessment Archives - Audit and Risk

Scenario vs. Asset-Based Risk Assessments: Understanding the Key Differences

By admin|2024-08-26T09:14:20+01:00August 12th, 2024|Risk Assessment|

Scenario vs. Asset-Based Risk Assessments: Understanding the Key Differences Risk assessment is a crucial process for organisations to identify, analyse, and mitigate potential threats. Two common approaches to risk assessment are scenario-based and asset-based methods. Each has its strengths and is suited to different contexts. Scenario-Based Risk Assessment Scenario-based risk assessment focuses on identifying potential events or situations that could negatively impact an organisation. It is the one I would recommend for those organisations just starting out looking at the risks faced by their organisation as [...]

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Risk Assessment – What scale should I use?

By admin|2024-08-26T09:11:17+01:00August 5th, 2024|Information Security, Risk Assessment|

Risk Assessment - What Scale should I use? When undertaking a risk assessment process, one of the key things you need to decide upon is the scale you are going to use. I have seen some very complicated risk assessment scales, ones with multiplication of values, a scale of 1 to 10, different areas for reporting risk. It doesn't have to be complicated. Actually the simpler the scale, the easier it is to evaluate risk. Keep it simple Unless your business is complex, multi-million pound and [...]

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Data Classification – How to get it right

By admin|2024-07-22T13:41:51+01:00July 22nd, 2024|Information Security, ISO27001 Certification, ISO27001 Implementation, policies and procedures, Risk Assessment|

Data Classification: How to get it right Not all business data is created equal. Some information is more valuable—and more sensitive—than others. This is where data classification becomes important. It helps separate the low risk information from the highly sensitive and confidential. What is Data Classification? Data classification is the process of categorising business information based on its level of sensitivity and the impact to the organisation should that data be disclosed, altered, or destroyed without authorisation. It's about understanding what data you have, where it [...]

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ISO 27001 – Risk Assessment Requirements

By admin|2023-11-23T12:18:47+00:00November 23rd, 2023|Risk Assessment|

ISO27001 - Risk Assessment Requirements Managing Risk: A Core Element of ISO 27001 Certification For organisations seeking ISO 27001 certification, implementing a comprehensive risk management program is essential for obtaining the certification. ISO 27001 requires a formal risk assessment policy and procedure to be in place. This can be a bit intimidating when you haven't done any formal risk management practices before. But remember that you are managing risk as a business owner or department head all the time. You may not see it that way [...]

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