Two years ago, the General Data Protection Regulation was put into effect in European Union. Soon afterward, the state of California passed the California Consumer Privacy Act into law as well. Just four months ago, in the midst of the general elections, the California Privacy Rights Act was also passed into law.
Many more privacy and IT security regulatory laws are on the drafts of many state and national legislative bodies. Many will be passed in the next few years, and protections are going to be steadily strengthened in the already existing rules and regulations. We are entering into a new era of privacy and IT compliance regulations. One with non-compliance, even if accidental, can be a death stroke for your business.
These are the three most famous compliance laws that most organizations looking to do business in either California or in the EU have to look out for. The list of regulatory compliance laws that organizations have to adhere to is a much larger list.
While organizations already were having issues in being fully compliant with these strict regulations, post the pandemic, as the workforce is rapidly shifting to a work from home model, it only serves to complicate organizations’ IT risks.
Why are third-party compliance Audits essential?
Ineffective IT compliance can lead to incredibly punishing fines and punishments from regulatory authorities. But in the midst of still stabilizing from the rapid shift to a remote work environment, many organizations are simply incapable of realizing whether they’re following regulations or not. In short, they unknowingly ignore them.
This is why third-party compliance audits are an absolute necessity and are a must-have in today’s world. Not only will they give you a clear insight into what new regulations and changing requirements are, but they also point out shortcomings in your organizations’ efforts to comply with said rules and regulations.
MSPs like Commprise IT Solutions Company will not just provide you a complete compliance audit, but they will also be able to work with your organization to bring your IT compliances up to the latest code.
This is incredibly important in order for small and medium businesses to continue operating in the state of California and the European Union.
Smaller enterprises neither have the resources nor the means to completely audit their own IT systems to ensure that they are fully compliant with the latest laws. While larger businesses have large in-house teams of IT and regulatory experts, most small organizations have neither of those.
Many IT professionals working in small and medium organizations aren’t even aware of the latest rules and regulations either. After all, they are IT professionals and lawyers, and the abstract rules and regulations of compliance laws can be hard to understand.
This is why your organization needs the help of professionals who have experience with compliance audits and expertise in bringing IT systems up to the current code. Without being compliant, your business runs risks of massive issues coming down the line.