ISO 27001 certification cost
Have you considered investing in ISO 27001?
ISO 27001 certification is the internationally accepted standard for establishing an information security management system. It provides benefits such as increased productivity, reduced costs and improved customer relationships. ISO 27001 certification is recognised globally and extremely beneficial for organisations looking to gain competitive advantages in national and global markets. It enables them to meet stringent standards of information security and risk management across the globe.
ISO 27001 certification is a globally accepted standard for implementing effective information security within organisations. It has been successful in satisfying the information security requirements of organisations across internationally, including those operating within the medical, banking and financial industries. The standard is updated every three years to keep abreast with technological change.
UKAS accredited ISO certifications
All of the ISO certifications that Compliant offer are UKAS accredited. But are wondering ‘why invest in UKAS accredited certifications rather than non-UKAS’? The answer is simple. The United Kingdom Accreditation Service (UKAS) is the sole national accreditation body for the United Kingdom.
The British Assessment Bureau explains about non-UKAS accredited certifications:
“One stop shop certification organisations have started to crop up in order to fulfil this need. Receiving consultation on the implementation of your ISO standards and then certification may seem like a convenient option, but in reality, it’s like asking your driving instructor to issue you with a driving license.”
One British Assessment Bureau client commented:
“Make sure that they are UKAS accredited. You could go with a non-UKAS accredited body, but it wouldn’t be the same. It’s not recognised by certain clients and you will find the process more arduous, more difficult.”
Sally Pearson, KKB Group
So when choosing how to progress with ISO 27001 be sure to invest in certification that is UKAS certified.
ISO 27001 and Risk Management
ISO 27001 certification defines a system for establishing an ISMS and meeting the objectives of an organisation’s existing risk management framework. ISO 27001 provides numerous benefits such as increased organisation efficiency, improved productivity and enhanced competitiveness. This is achieved by providing a detailed risk and threat assessment, identifying the most critical information assets, implementing appropriate technical solutions for managing risks, implementing a suitable process for updating and maintaining the ISMS, defining a suitable access control policy and monitoring of the system.
ISO 27001 certification is designed to enable organisations to effectively manage information security risks. It is a structured certification that covers the entire spectrum of information security management. It can be applied to any organisation regardless of size or industry, ensuring that they comply with international privacy and information security standards.
Documentation and effective records are key when implementing ISO 27001; organisations must look to mitigate their information security risks.
Having ISO 27001 certification may require a significant investment from an organisation. This investment has numerous advantages including reduced liabilities and costs. The initial cost is offset by numerous benefits which include increased customer satisfaction, improved customer retention, reduced fraud and enhanced productivity.
The specific requirements for ISO 27001 certification are as follows:
- A certified organisation shall have a documented information security management system (ISMS), which shall be under constant supervision and be subject to monitoring by a competent individual.
- The ISMS shall describe the structure and functions of the organisation’s ISMS and there shall be policies, procedures, processes and documentation to support the structure described in the ISMS documentation.
- The ISMS implementation shall be in accordance with the organisation’s policies, procedures and processes.
- The organisation shall provide training for all employees before and during the operation of the ISMS.
- The organisation shall ensure that its employees are aware of their responsibilities and obligations to comply with relevant information security standards, regulations and laws.
- The organisation’s ISMS policy shall be approved by a senior management representative or be ratified by the Board of Directors. An organisation must also have a Risk Management Framework (RIF) approved by its Board of Directors.
- The organisation shall make available to the public an explanation of how the organisation’s ISMS balances risk with information security and how it controls access to information systems and to information assets.
- The organisation shall publish or make available to its customers a written explanation of the ISMS, describing it in sufficient detail for any person who cannot be expected to have full knowledge of all aspects, including any technical details, of the ISMS.
- The organisation shall publish or make available to each customer a summary of the rights and responsibilities of both parties under the contract they have entered into concerning the provision of services related to the protection of sensitive data and personal data.
- The organisation shall provide annual security audits of the ISMS and implementation of the ISMS.
- The organisation shall provide a report on the status of the implementation and maintenance of the ISMS to its management.
- The organisation shall conduct an annual Risk Assessment as part of its ISMS implementation. This assessment should include a review of all applicable legislation, regulations, guidelines and standards that affect each information security risk area identified in the Risk Assessment.
- The organisation shall conduct an annual Information Security Risk Assessment as part of its ISMS implementation. This assessment should include a review of all applicable legislation, regulations, guidelines and standards that affect each information security risk area identified in the Information Security Risk Assessment.
- The organisation shall provide documentation to allow third parties to verify that the ISMS complies with these requirements. Documentation includes policies, procedures, processes and documentation to support the structure defined in the ISMS documentation.
- The organisation shall inform its management of any critical deficiency in the ISMS, including any possible risks arising from the deficiencies.
Is ISO 27001 expensive?
The cost of implementing ISO 27001 depends on each organisation. The cost of compliance may be greater than the initial investment, but there are a number of benefits that come with this practice. ISO 27001 certification can be used to help business reduce those costs by reducing data theft, increased customer retention and enhanced productivity. ISO 27001 certified organisations also benefit from reduced risks which include liabilities and costs.
Investing in ISO 27001 may also support organisations in securing larger clients or tendered work which requires certification.
ISO 27001 certification provides a high level of security and compliance for an organisation which can set the stage for other protection measures to follow.
The cost of ISO 27001 certification is dependant entirely on the certification body and the number of days they require to audit an organisation. As a partner to many of the certification bodies we enjoy preferential day rates that can be passed directly onto our clients in the form of discounts.
Compliant and many of our ISO certification body partners offer deposit payment options followed by interest free payments.
This investment can be offset by numerous benefits including reduced risks which include liabilities and costs. In fact, many companies can benefit from the ISO 27001 accreditation process by reducing fraud and saving money on audit services.
Costs associated with ISO 27001
The cost of implementing ISO 27001 depends on the size of the organisation. When considering the size of an organisation a certification body will review the number of employees and number of premises that a business operates from.
The cost of implementation varies considerably, therefore it is important to speak with professional consultants such as ourselves to determine the best approach for your company.
We can provide you with a FREE no obligation quote today to give you an indication of costs.
ISO 27001 certification provides a high level of security and compliance for an organisation that can set the standard for other protection measures to follow. For example, if your organisation is certified against ISO 27001 standards, you have assured yourself and your stakeholders that your IT infrastructure meets the baseline from which you can move forward.
The ISO 27000 family of standards provides a framework for managing information security in organisations by specifying requirements and guidelines. It is a practical means to address information security and ensure that an organisation is compliant.
ISO 27001 certification assures an organisation’s customers and partners that its ISMS has been designed to provide the appropriate level of security, to safeguard personal information assets from unauthorised use or disclosure, misuse or alteration and destruction. As such, ISO 27001 certification can help reduce data loss and theft.
An organisation with an ISO 27001 certified information security management system will be able to demonstrate ISO 27001 compliance as part of its benefits package. The benefits include reduced fraud, reduced costs and improved customer satisfaction with the service delivered.
To become certified a recognised certification body will assess whether an organisation is compliant within the ISO 27001 criteria.
The assessment is performed by a registered auditor who is approved to perform assessments by ISO. The goal of the assessment is to confirm whether criteria are met.
Certification consultants such as Compliant are engaged to manage the audit process, liaise with the certification body on behalf of an organisation and manage documentation required to become ISO certified.
An ISO 27001 certification is issued to an organisation that has demonstrated compliance with the requirements of ISO 27001. The organisation will receive a certificate which valid for three years.
How long does ISO 27001 last?
An ISO 27001 certificate is valid for three years. A plan must be developed to address any non-conformities identified during the audit. The organisation is required to implement controls and corrective actions based on approved plans to ensure that the non-conformities are corrected before the certification renewal date. Failure to amend non-conformities will result in failure of renewal or permanent withdrawal of a certification.
For how long does an ISO 27001 certificate remain valid?
It is valid for 3 years. The certification can be renewed at the end of the three years by requesting a certification update or extension. This can be done by making changes to the management system to address non-conformities found during an audit or pending non-conformities must be identified and action plans for their correction must be submitted before the certification expires.
How long does it take to become ISO 27001 certified?
The length of time needed to attain ISO 27001 certification varies considerably, depending on the organisation’s size, structure and resources. It typically takes at least six months. This can be an accelerated process for organisations already managing their information security according to international standard that has been determined as substantially equivalent to ISO 27001.
Annex 8 of the ISO 27001 framework includes over 130 documents that Compliant can support with. It takes approximately 6 to 8 weeks to get organisations into a position to proceed with their stage 1 audit.
Advantages of ISO 27001:
- It guides the organisation in achieving risk management and security objectives by providing a framework to design, implement, operate and maintain information security.
- It helps organisations focus on developing appropriate policies and procedures to demonstrate the achievement of the desired level of security.
- It serves as a means for organisations to evaluate their information security programs by measuring how well they are performing against a defined set of requirements.
- The standard helps organisations develop effective employee awareness and training programs, as well as frequent reviews of critical information resources.
- It provides a framework for developing technical and non-technical controls.
- It identifies ways to reduce the potential impact of security incidents.
- It improves accountability of the executive management at all levels that affect information security.
How ISO 27001 ties in with GDPR
GDPR ensures that companies maintain data privacy, while ISO 27001 is an internationally recognised standard that focuses on information security.
Adhering to both ensures that:
- Organisations store users’ consent forms and data is easily accessible when users or any authority requests it.
- Users can request, obtain, and reuse their data for their purposes across services.
- Users can request that an organisation destroy their data.
Users can restrict how an organisation uses their data.
Organisations use ISO 27001 best practices to guide and stay GDPR compliant. View the full article ‘A simple guide – Does ISO 27001 cover GDPR data protection’ here.
IS ISO 27001 right for you?
Do you think ISO 27001 is required for your organisation? Why or why not?
ISO 27001 requirements can be very useful for SME’s and new companies as it ensures a proper IT infrastructure. To find out more about ISO 27001 check out our latest ISO 27001 video here!