ISO/IEC 27001 - ISMS

Information Security Management System

What is ISO/IEC 27001?

An information security standard and the part of ISO/IEC 27000 family is ISO/IEC 27001 which is the most popular one among IT industries. It was developed and published worldwide to help the IT industry to manage risks and to make its security system more effective.

ISO/IEC 27001 is an internationally recognized success-proven standard for any information security management system that provides assistance to not only highlight risks in existing management system but helps to devise relevant and an effective information security management system that is perfect for your organization.

Moreover, ISO/IEC 27001 standard serves as a guideline towards continually reviewing and improving the security of your information, which will exemplify reliability and add value to the services of your organization. It is based on three core principle of information security:

  1. Confidentiality
  2. Integrity
  3. Availability

The implementation of an Information Security Management System, complying with ISO/IEC 27001 is a strategic decision that aspires to improve your overall information security and provide a strong basis for sustainable development initiatives.

What is the importance of  ISO/IEC 27001?

Nowadays, words are not enough to prove credibility you must have a solid proof to gain the trust of your customers, affiliates, and stakeholders. Especially in terms of information security, you cannot fathom to gain a foothold in global marketplace without having a solid standardize information security management system in place and the best one for this specific job can be attained by implementing ISO/IEC 27001.

What are the benefits of ISO/IEC 27001?

Securing your company assets according to ISO/IEC 27001 standard and refining the infrastructure to ensure the informational integrity and business stability will help you gain a respectable reputation among your suppliers and customers because you are prioritizing the security of their as well as your private internal information. Some notable benefits of ISO/IEC 27001 implementation are as follows:

  • Gaining a certain amount of distinction among your peers
  • You will have peace of mind regarding the operating procedures as they will be well defined
  • By having a grasp on the security ROI (return on investment) you can calculate key performance indicators
  • ISO/IEC 27001 credentials will guarantee effective risk management
  • You can stop worrying about a constant risk to reputation by any events that will breach the information security of the organization
  • It is your ultimate escape from financial penalties caused by data breaches. The losses associated with data breaches are recorded with a rise of about 7% in 2017 according to Ponemon
  • Process integration with corporate strategies of risk management
  • Being ISO/IEC 27001 compliant defines how much you are concerned about your business’s image and want to protect your organization from cyber attacks and potential threats

Adherence to appropriate information security management principles will aid the organization in achieving business objectives and goals, whereas poorly designed information security management system might result in substantial deterioration of your organization’s information security.

Stage 1:  Discovery

  • GAP Analysis to identify the gaps as compared to standard requirements
  • Awareness Training

Stage 2: Documentation & Implementation

  • Documentation

Documenting  Management System procedures and WI based on document structure most suitable and value add to the Organization.

  • Implementation

Once documents are drafted, reviewed, and approved, process owners, will implement the documented processes.

Stage 3: Audit (Internal and External)

  • Internal Audit of the implemented ISMS and Management Review is a mandatory requirement. Internal Audit program with Internal Audit schedule and plan is required. Internal audit needs to be conducted by Trained Internal Auditors or External Contracted Auditors.
  • After Internal Audit, External Audit can be scheduled and conducted.

This entire process can take up to 6-8 months depending on the number of locations, employees, scope, number of processes, and resource commitment by organization.

 

The various cost incurred in the process of securing ISO certification are distributed over a 3-year cycle:

  1. 1st Year Cost

  • Create and Charter ISO project (Quality Manager)
  • External Registrar Cost+ Logistic Cost
  • Consultant Support( if external consultant used)

 

  1. 2nd Year Cost

  • Surveillance Audit and Logistics cost.
  • Soft Cost associated with Internal Audit, Reporting and Maintenance of the QMS

 

  1. Recertification cost( every 3 years)

External Audit and Logistics cost

ISO 27001 is a Management system for Information Security. Keeping information secure is not the task of IT department but of each individual of the Organization. Becoming more aware of existing threats will help the organization to manage the risks and place effective controls. That is the true benefit of the ISMS certification.

The database/list can exist based on the country and its regulations. In the USA there is no such list, but all certificates are issued by Accredited Registrars.

ISO standard can be purchased from ANSI stores, ISO website, and authorized vendors only. Printed/electronic copies are managed per the  Terms and Agreement as well as IEC and ISO copyright requirements.

https://webstore.ansi.org/standards/iso/isoiec2700127002security

https://www.iso.org/standard/54534.html

ISMS Scope is defined based on the physical and logical boundary of the organization pursuing certification. The information system that organizations consider critical and want to secure is defined with the scope. Any interrelating process is part of the scope.

Example Human Resource is responsible for maintaining the training records of all individuals hired for the personnel and confidential personnel information.

The HR department will be within the scope of the Audit. Based on the scope, the Statement of Applicability and Controls checklist needs to be documented and implemented. 3rd party audit will certify to the said scope.

Yes, certification is not tied to the duration of Organizations’ existence. Any organization having defined processes, meeting the compliance requirements of ISO 27001, and adequate resources ( personnel & finance) for implementation can achieve certification.

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