“GDPR is not about just following a law, but to evolve it as a practice in the organization.”

What does GDPR stand for?

GDPR stands for General Data Protection Legislation. It is a European Union (EU) law that came into effect on 25th May 2018. GDPR governs the way in which we can use, process, and store personal data (information about an identifiable, living person). It applies to all organisations within the EU, as well as those supplying goods or services to the EU or monitoring EU citizens. Therefore it is essential for businesses and organisations to understand explicitly what GDPR means. It is the legislative force established to protect the fundamental rights of data subjects whose personal information and sensitive data is stored in organisations. Data subjects will now have the right to demand subject access to their personal information, and the right to demand that an organisation destroys their personal information. These regulations will affect most sectors within business, from marketing to health services. Therefore, to avoid the crippling fines administered by the Information Commissioner’s Office (ICO) it is essential to become GDPR compliant.

These are the 7 key principles of GDPR:

Lawfulness, fairness and transparency

Purpose limitation

Data minimisation

Accuracy

Storage limitation

Integrity and confidentiality (security)

Accountability

Is It Applicable on Your Organization?

GDPR has been in the discussion since its implementation. Irrespective of your location in the globe, if you are doing business in the European Union or European Economic Area, and collecting the information of their residents, then you have to comply with the regulations of Global Data Protection Regulation, abbreviated as GDPR.

Even if you have made a product such as a Software Application like Call Center Management Software or another application which is being used by your client to save and process the information of EU/EEA Residents, then GDPR will be applicable to your organization and you must abide by its compliance.

Further if you have hired any employee from EU resident then it is also applicable on your organization as you store his/her information.

Why should your organization comply with GDPR?

Legal Basis for Improved Security

GDPR is not only about the protection of personal data of subjects but it also asks to safeguard the business data and information of any organization. It helps you to strengthen the IT Security. There will be legal basis that asks you to improve and maintain the IT Security at various levels in the organization.

Legal Framework to deliver Rights related to Personal Data

It also provides a legal framework to your organization, following which, you can easily provide the required rights to the concerned data subjects.

Safety from Hefty Fine

Your Organization will be saved from the hefty fine that can be imposed if GDPR Provisions are not implemented or its violation is detected.

Better Business Opportunities

After complying with the GDPR, your organization will have a better chance to attract the business opportunities in EU/EEA Region. Security and Compliance Abidance is an important factor, which increases the trust factor amongst the clients. Abidance with GDPR means better IT Security that is mostly required and asked by the clients worldwide, and now especially in EU/EEA Region.

Complying with One opens the Gate for Others

All IT-related compliance, especially related to Data Protection and IT security, have always something in common. If you are fully complying with one compliance, especially GDPR, then you have already started complying with common or initial provisions of other IT-related Compliance like ISO, HIPAA, and Personal Data Protection Bill.

Reasons for the Implementation

 – Meet the regulations of GDPR

 – Provide a specific mechanism to the employees, customers, partners, and other users of your organization, especially of EU/EEA Residents, to protect and safeguard their Personally Identifiable Information (PII)

 – Help in securing and safeguarding the business information, personal data of users, and other important data in the organization

 – Create and Maintain the Register of the Data Processing

 – Avoid the Hefty fine that can be imposed if the GDPR Regulations are not followed.

 Objectives

 – After studying the requirement, we will share GDPR Implementation Approach that will be the best fit for your organization.

NOTE: We prepare dedicated and customized Implementation Approach document for our every client.

 – A Target Date has to be finalized after the discussion which the regulations of GDPR has to be implemented.

 – Normal functioning of the business should not be impacted before, during, and after the implementation of GDPR

 – Data Processing Activity Planner has to be prepared to meet the organization’s demands as per GDPR.

Why ABS?

We are a team of experienced and seasoned professionals. We reserve our expertise in helping the clients from the different industry sectors to meet the IT related compliance including GDPR.

Our USPs

 – Continuous Work on your requirements starting from your request to send the proposal till the GDPR is implemented in your organization

 – On-time completion of the different stages mentioned in the Implementation Approach

 – Regular Updates through daily status notifications, weekly emails, and scheduled meetings to avoid any last-minute surprise

 – A Non-Disclosure Agreement (NDA) will be executed between both parties before starting the work.

A SOC 1 engagement is an audit of the internal controls which a service organization has implemented to protect client data, specifically internal controls over financial reporting. SOC 1 is the standard used by CPAs during a SOC 1 engagement to evaluate, test, and report on the effectiveness of the service organization’s internal controls.

A SOC 1 audit provides reasonable assurance to your publicly traded clients and their auditors that you have implemented effective internal controls over financial reporting.

Who, Why, What

Yes/No

Report

Will the report be used by your customers and their auditors to plan and perform an audit or integrated audit of your customer’s financial statements?

Yes

SOC 1

Will the report be used by your customers as part of their compliance with Sarbanes Oxley Act or similar law or regulation?

Yes

SOC 1

Will the report be used by your customers or stakeholders to gain

confidence and place trust in a service organization’s system?

Yes

SOC 2 or

1

Do you need to make the report generally available?

Yes

SOC 1 & 2

Do your customers have the need for and ability to understand the details of the processing and controls at a service organization, the tests performed by the service auditor and results of those tests?

Yes

SOC 2

About SOC 2 Reports

Service organization control reports are designed to help service organizations, organizations that operate information’s systems and provide information system services to other entities, build trust and confidence n their service delivery processes and controls through a report by an independent certified public accountant

(American Institute of certified public accountants (AICPA)

A SOC 2 is an attestation report that provides controls assurance over a defined set of the service provider’s systems. Each report covers a defined period of time (usually nine months) to be agreed on between the service auditor and service provider. The report can encompass between one and five trust services principles (TSP), depending on the needs of the service organization, which include: security, availability, processing integrity, confidentiality and privacy. The security principle is one of the most commonly selected and is used to determine whether relevant systems are protected against unauthorized access, use or modification

SOC reports are designed to help service organizations, entities that process information or handle business transactions on behalf of its customers, build trust and confidence in their service delivery and controls over information and data through a report prepared by a CPA