Glossary of Compliance

Compliance Glossary

Our list of curated compliance glossary offers everything you to know about compliance in one place.

Glossary » SOC 2 » Risk Assessment

Risk Assessment

Risk assessment in SOC 2 is the process a service organization uses to identify potential gaps in their security system and non-conformities. It is used to identify and evaluate existing and potential vulnerabilities that can negatively impact the organization’s controls. This is an essential criteria in SOC 2, and the lack of a robust risk assessment process could lead to financial loss due to data theft, legal consequences, and interruption in business continuity. The steps involved in performing a risk assessment are: 

– Define your business objectives

– Identify in-scope systems

– Perform risk analysis

– Document risk responses

Additional reading

Why SOC 2 for SaaS Companies is the Need of the Hour

Why SOC 2 for SaaS Companies is the Need of the Hour

$4.87 million! That’s the average cost of a cloud-based data breach with a lifecycle of over 200 days. With a cyber attack happening every 39 seconds, cybersecurity has become a widely debated subject, with security, compliance, and risk management as the top priorities going forward. That’s where SOC 2 comes in. A SOC 2 SaaS…
ISO 27001 Requirements

ISO 27001 Requirements – A Comprehensive List [+Free Template]

Compliance with ISO 27001 requires familiarity with the standard, diligent planning, and committed implementation. To facilitate the process, you need to fulfill the necessary ISO 27001 certification requirements. The ISO 27001 requirements guide discusses the ISMS policies and procedures you must implement to demonstrate compliance with the clauses (4-10) listed in the ISO 27001 compliance…
audit risk model formula

Audit Risk Model: Risk Types, Formula, Calculation, Score

The audit risk model brings out the mathematics behind an auditor’s discretion of your security controls and the confidence they have in your cybersecurity posture.  The model revolves around the uncertainty that exists within every business transaction, financial statement, security control and corporate decision. Having said that, it’s still not a rigid rule book.  This…

Sprinto: Your growth superpower

Use Sprinto to centralize security compliance management – so nothing
gets in the way of your moving up and winning big.

Contact sales