Central to successful and efficient business operations is the secure and fluid exchange of information. As we currently thrive in an information-centric society, highly dependent on the information we create and share, the advancement of information technology has driven the need of organisations in employing strategic methods to protect valuable corporate data from digital risks and threats.

Without proper security controls, private data and intellectual property can be easily lost, stolen, or destroyed.  To have such important assets disrupted can create an avalanche of financial and corporate losses; customers and corporate stakeholders would lose confidence in the company's ability to secure important information, which could ultimately lead to the organisation facing potential extremes such as a class action lawsuit. As a result of this, market performance and the value of the company would decline significantly. Thus, it is fair to say that information risk management is an integral part of business assurance.

In 2013, the internationally recognised standard for information security – known as ISO/IEC 27001 – was revised. The purpose of becoming certified with this standard is to demonstrate to potential and existing customers, suppliers, and shareholders the integrity and commitment an organisation has on internal and external data and systems. It also lowers the possible risk of fraud, information loss, and disclosure. According to recent data, Australia is slow to adopt ISO/IEC 27001; only a hundred companies chose to invest in this standard upon its revision in October 2013. This value is slowly growing as organisations gain awareness of the risks involved with information disruptions. This however remains low compared to nations such as the UK.

If you are concerned and interested in employing a risk-based approach to the security of your organisation’s valuable data and information, our team at Compliance Council can help you achieve IEC/ISO 27001 certification. To organise a consultation or find out more information, contact us via info@compliancecouncil.com.au or give us a call on 1800 771 275.