Your glossary for risk and compliance
Helpful definitions of all of the terms you need to know to better manage risk and compliance.
Terms
AFSL 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 the ISO 27001 management review?
The ISO 27001 management review intends to ensure an organization’s Information Security Management System (ISMS) and its objectives continue to remain appropriate and effective given the organization’s purpose, issues, and risks around its information assets.
Senior management within an organization is ultimately responsible for the success of the organization’s ISMS. For senior management to confirm the ISMS is operating effectively and meeting defined objectives, they need to conduct management reviews. The management review serves the critical purpose of setting the tone and expectations for the organization concerning the organization’s implementation and maintenance of good information security practices.
Management reviews should be pre-planned and conducted often enough to make sure the ISMS continues to operate effectively and achieve the objectives of the business. The ISO 27001 standard states that reviews should occur at planned intervals, generally at least once per year and within the external audit period. However, given the rapidly changing information security threat and legal and regulatory landscape, it is recommended that the ISMS governing body conduct meetings more frequently. Meeting at least every quarter will help establish that the ISMS is operating effectively; that senior management remains informed; and that any adjustments to address risks or deficiencies can be promptly implemented.
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