It’s that time again—time for your compliance audit. Depending on your business, it might be an annual audit from a government or regulatory entity, or it may be requested by someone with whom you’re about to do business—a prospective vendor, partner or client.
What’s involved in this audit? And if you pass, does that mean you’re good to go? What’s the next step?
What Is a Compliance Audit?
A compliance audit is a set of questions designed to make sure that you are complying with industry or federal regulations. Most often, these are related to security of information. The type of information varies, but the ultimate goal is the same: making sure that your organization is taking the appropriate steps to ensure the safety of the data that has been entrusted to you.
Audits across different industries ask different questions. A healthcare compliance audit will be looking for HIPAA metrics—steps taken to safeguard protected health information (PHI). Brokers are subject to FINRA compliance audits to ensure security in the financial industry, and organizations that contract with the government must comply with NIST requirements for cybersecurity.
Compliance audits average between 100-200 questions, most of which are highly technical and are best answered by your IT team or resource. It’s not a black-and-white pass/fail scenario, though. Since audits may vary not only by industry, but even from company to company, not every question will apply to your business. For example, a healthcare organization may send a HIPAA compliance audit to a potential vendor, but since the vendor doesn’t handle any PHI, many of the questions won’t apply. This doesn’t mean that the two can’t do business together; rather, it supports an informed discussion about their partnership.
If I Passed, That Means I’m Secure, Right?
Not exactly. As Anthony, one of our FIT engineers, explains, it’s just a first step. Compliance audits are concerned with different aspects of your business and environment, but not EVERY aspect. Some areas of your network are not included, but could still pose a vulnerability in your security.
Plus, most audit questions are not a simple pass/fail; you may have passed, but with the equivalent of a C. Think of your compliance audit as a report card—an assessment of where you’re at, and where you can improve. Once you identify those areas, what do you do about them?
Your compliance audit helps you develop a TBP, or Technology Business Plan, for what adjustments or improvements your IT environment needs over the next 3-24 months. Areas that barely passed or didn’t pass will be the primary areas of focus for your IT team, and can spur projects or other resolutions to help strengthen and streamline your network.
Since the main focus of compliance audits is security, take a good look at the cybersecurity measures you have in place. New threats emerge every day, so it takes a proactive approach and constant vigilance to counter attacks and defend against new vulnerabilities and exploits.
At FIT Solutions, we are your go-to IT resource. We complete compliance audits for you and make recommendations based on the results. We also help prepare your environment to meet and repel cyberattacks. Give us a call today at 888-339-5694 or contact [email protected] to see what elite IT service is like.