Strategic Advantages of GLBA Audit Certification
At I.S. Partners, LLC, our independent auditors take the anxiety out of the process by providing comprehensive compliance auditing for information security.
When it comes to security and privacy, regulatory compliance builds trust among customers and stakeholders. Demonstrating conformity with the Privacy and Safeguards Rules outlined by the FTC in the Gramm-Leach-Bliley Act decreases the risk of data breaches, damage to the company’s reputation, and hefty fines. In fact, financial institutions found in violation of GLBA audit regulations can be fined up to $100,000 for each incident of non-compliance.
Unified Program for GLBA Compliance
Every business that fits the “financial institution” definition requirement should make sure they have a safe and efficient compliance procedure in place. Our independent auditors support ongoing compliance auditing and information security with risk assessments, GLBA audit preparation, and more.
GLBA Risk Assessment
For financial institutions required to comply with GLBA regulations, regular risk assessments must be a top focus. Advisory services by I.S. Partners start with an initial assessment of operations, evaluation of the technology used to transmit and store consumers’ NPI, and a comprehensive GLBA risk assessment.
With clear risk assessment reports, our clients are also able to identify potential weak points that could compromise system integrity and jeopardize consumer data. In fact, our risk assessment procedures are continually updated and improved to ensure proactive vulnerability detection.
I.S. Partners’ auditors first evaluate current policies and procedures by performing a readiness assessment. Then, our team checks internal controls and policies to see if they effectively keep nonpublic privacy information safe and secure. GLBA audits cover internal controls related to identifying and storing NPI, procedures to mitigate threats and risk, crisis management response, employing training, and documentation practices.
Ongoing GLBA Compliance Support
GLBA compliance is a continuous process, not a singular annual event. It needs to be routinely assessed for efficacy and fully documented for upcoming renewal and certification requirements.
The goal of our GLBA audit and compliance program is to monitor, spot, and address flaws in a business’s operational procedures. We also run a gap analysis to identify issues and provide recommendations for enhancing GLBA compliance in the future.
Professional Assistance for Meeting GLBA Audit Requirements
GLBA compliance is complex, but it doesn’t need to be stressful. When you work with the independent auditors at I.S. Partners, LLC., your financial organization gets complete risk assessment, auditing, and ongoing updates. We work closely with clients to understand their goals and build a compliance program that supports—rather than disrupts—regular business operations. Request a quote today.
I.S. Partners Does Not Contract Out Security or Auditing Work
Partnering with us means working with a single dedicated expert who will streamline all compliance and security tasks relevant to your company’s regulatory obligations. Because we take pride in our client relationships, we personally handle every step of the procedure internally, rather than enlisting the help of outside auditors or contracting out security experts. This means that our clients will experience fewer problems and smoother, more effective engagements.