Your glossary for risk and compliance
Helpful definitions of all of the terms you need to know to better manage risk and compliance.
TermsAFSL Authorised Representative AICPA Annex A Controls ASIC Attestation of Compliance (AOC) Business Continuity Management Communication and consultation Compliance Automation Software Compliance Risk Management Consequence Context control Cybersecurity Cybersecurity Maturity Model Certification (CMMC) FedRAMP Governance Risk & Compliance (GRC) GPDR HIPAA HITRUST How many controls are there in ISO 27001? Incident Management Information Security Management System (ISMS) ISMS Governing Body ISO 27001 ISO 27001 certified ISO/IEC 27000 ISO/IEC 27004 ISO/IEC 27005 ISO/IEC 27017 ISO/IEC 27018 Level of risk Likelihood Notifiable Data Breach OAIC Policy Management Risk Risk analysis Risk identification Risk management Risk management framework Risk management plan Risk management policy Risk management process Risk owner Risk profile Risk review Risk source Risk treatment SOC 1 SOC 2 SOC 3 SOC Reports SOC Trust Services Criteria (TSC) SSAE 16 SSAE 18 Stakeholder Third Party Risk Management Vendor Assessment Vendor Management Policy Vendor Review Vulnerability Vulnerability Management What are the ISO 27001 controls? What is an ISO 27001 internal audit? What is an ISO 27001 risk treatment plan? What is an IT security policy? What is Hacking? What is ISO 27002? What is PaaS (Platform-as-a-Service)? What is the ASD Essential 8? What is the ISO 27001 management review? What is the ISO 27001 Stage 1 Audit? What is the ISO 27001 stage 2 audit?
What is an ISMS Governing Body?
An ISMS governing body is an organizational governance team with management oversight, composed of key members of top management—typically defined as senior leadership and executive management responsible for strategic decisions and resource allocation—from within the organization.
The ISMS governing body provides appropriate management oversight for the organization’s Information Security Management System (ISMS) to ensure:
- Information security objectives are in alignment with the business strategy to help meet the organization’s strategic objectives.
- A risk management program identifies and mitigates the risks to an organization’s resources and assets and produces the intended results.
- Policies and procedures supporting the organization’s ISMS are reviewed, approved, and remain current.
- Appropriate allocation and use of resources to meet intended objectives.
- According to established policies and procedures, an internal audit program is defined and carried out, including sufficient independence to maintain a separation of duties and avoid conflicts of interest.
- Metrics such as Key Performance Indicators (KPIs) are defined, useful, and reported to ensure the achievement of intended outcomes and the effectiveness of the ISMS.
Necessary adjustments improve the ISMS.
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