What is ISO27001?
ISO27001 is the international standard that governs information security. Its purpose is to provide guidance and advice concerning how to protect and secure your organisation's data, especially its critical service data. The intention behind the standard is to help organisations identify, manage and reduce their information security risks. ISO27001 is set and managed by the International Organisation for Standardisation, an independent network of 157 member countries and based in Geneva, Switzerland.
When is the deadline and what are the penalties?
There is no specific deadline associated with ISO27001 - it is only a recommendation that your organisation implements and complies with ISO27001 because of the benefits it can bring. Increasingly though, many procurement departments (regardless of whether they are from the private, third or government sector) are listing ISO27001 compliance as part of their tendering criteria.
There are no official penalties relating to non-compliance with ISO27001 - compliance with it is a decision for the executive within each organisation to make according to their own operating conditions and strategy.
What are the benefits of complying with ISO27001?
There is a range of benefits but the most important is the assurance you will gain. By implementing and maintaining commitment to the ISO27001 standard you will be able to clearly demonstrate to the executive, employees, shareholders and customers alike that your organisation is paying due diligence and doing all it reasonably can to protect its data and related information resources.
Secondly, there is a very practical benefit to implementing ISO27001: it will help you to identify, manage and reduce the information security risks your organisation faces. This includes having the right security measures in place such as firewalls, passwords, physical access controls and an information security policy, all of which will not only help protect your customers' data but will help to prevent your competitors from getting hold of any sensitive business data crucial to maintaining your competitive edge.