Concepts of Governance
Tags: Governance, Blog, Cybersecurity

Governance is a structure and system designed to guaranty Responsibility, Rules, Law, Equality and Clarity.

Governance split into different areas: Drivers that influence governance, corporate governance activities, Information security governance activities, and ethical decision making.

Laws and some standards apply to an organization’s compliance program to protect themselves as well as their clients.

With the automation of information, organizations face many challenges to protect their data and client’s information, example Health care organizations:

Communication of client health information and storage of medical data is easier to share between health care professional who treats them, so that information is more exposed than it uses to be, this concern has been addressed by (HIPAA) The Health Insurance Portability and Accountability Act and has been adopted by (HHS) as HIPAA Privacy Rule or standards for the protection of certain health information, and HIPAA Security Rule or standards for the protection of electronic protected Health information set of security standards for protecting certain health information that is held or transferred in electronic form.

This apply to covered entities, business associate, and subcontract, every health care worker should have a practical understanding of the HIPAA Act regarding Safeguarding information when it is investigating or stored in electronic form…

If they do not follow those regulations, they can be subject to monetary penalties or more.

Corporate Governance is internal governance refers to rules, laws, compliances, plans, procedures, and policies. For example, a financial organization has to follow strict guidelines and policies under regulatory entities.

Most of the organizations put in place training programs and internal audits for their employees to comply with their operations and regulations.

The form of a business can relates to its governance strategy, here some examples:

For proprietorship, the owner will define the goals, mission and the purpose of the business, the owner will be looking to generate profits than setting up policies and procedures.

A partnership can be challenging, most of the time owners have a different point of view and different approaches, for that reason it can cause the malfunction of the company and affect the establishment of governance strategy.

Finally, corporation, I believe that corporation is more organized compare to other forms of businesses, has a solid structure and guidelines, and leads to the effectiveness and well-defined governance strategy.

The governance structure is usually writing in the article of a corporation.

Access control: Banks should have control of the company’s computer by an authorized user to monitor the risk of communication of private information or employees breaking confidentiality.

Audit and accountability policy and procedures: Regulated company should apply audit to every

individual working for the organization regardless of their position in the company to comply with regulations.

Reference: https://www.hhs.gov/hipaa/for-professionals/security/laws-regulations/index.html