Are stakeholders asking you to prove that your privacy program is effective? Are you asking your business partners and vendors to prove that their privacy programs are effective?
Data privacy issues and regulations are on the rise. Regulatory bodies across the globe are instituting new and more complex privacy laws, each with differing requirements—at the regional, country and state levels.
Many leaders in Legal, Risk, Compliance, Privacy, Audit and other areas have been hard at work breaking down complex regulations and building out their data privacy programs. But few can provide assurance over those programs to external stakeholders.
PwC professionals can help with privacy initiatives from strategy through execution—including performing independent readiness assessments and reporting—to enhancing trust between data processors and data owners, and helping stakeholders manage compliance and governance risks.
Todd Bialick discusses how organizations are using privacy as a value driver.
Many companies that handle sensitive data—including those that may outsource the handling of sensitive data—field hundreds of requests each year for assurance that their privacy program is effective and operates continuously.
Providing privacy assurance is not always straightforward.
As companies consider ways to provide assurance on their privacy programs, PwC experts recommend considering the SOC 2 attestation standard.
Like a certification, an attestation is an independent opinion that a privacy program meets or exceeds acceptable standards. One such attestation standard, System and Organization Controls (SOC) reporting, provides a coherent, repeatable reporting process that can help any organization provide insight and assurance to stakeholders that its privacy program is effective.
Many companies react to privacy concerns with projects. But a more proactive, comprehensive, and sustainable approach can yield a host of benefits, such as the following: