HITRUST® to Address Market Gaps in Reliability and Challenges in the Exchange of Security and Privacy Assessments
HITRUST® announced today a major expansion of its assessment portfolio to raise the quality and efficiency of assurances across the spectrum of information assurance needs. HITRUST also is unveiling a new evolutionary approach to streamline the exchange and consumption of assessment results across the ecosystem of relying parties.
HITRUST CSF Certification is the most reliable information assurance report on the market and made possible by the transparency and consistency in the selection of controls, and in the scoring, and validation of controls by both qualified third-party assessors and the HITRUST Assurance and Quality teams. The assurance process is rigorous by design to ensure a high level of assurance in the results provided. However, there are many situations where a moderate or low level of assurance is warranted. Organizations are seeking a broader range of assessment options that require less effort and time to perform while still providing a commensurate level of reliability for moderate- to lower-risk scenarios.
To meet the market needs for varying levels of assurance with higher reliability, HITRUST is adding two new assessment offerings. Like the HITRUST CSF Validated Assessment, these new offerings will aid in understanding control effectiveness as well as cyber preparedness and resilience. With the two new additions, the HITRUST assessment portfolio will include:
- The Basic Current State (bC) Assessment is a “good hygiene” assessment and offers higher reliability than self-assessments and questionnaires by utilizing the HITRUST Assurance Intelligence Engine™ (AI Engine) to identify errors, omissions, and deceit.
- The Implemented One-Year (i1) Validated Assessment is a “best practices” assessment and recommended for situations that present moderate risk or where a baseline risk assessment is needed. The i1 is designed to provide higher levels of transparency, integrity, and reliability over existing moderate assurance reports, with comparable levels of time, effort, and cost. HITRUST Authorized External Assessors will validate i1 assessments.
- The industry standard HITRUST CSF Validated Assessment is a risk-based and tailorable assessment, which continues to provide the highest level of assurance for situations with greater risk exposure due to data volumes, regulatory compliance, or other risk factors. The HITRUST CSF Validated Assessment will be renamed the Risk-based, Two-Year (r2) Validated Assessment.
Until now, most low to moderate risk assessment mechanisms were either self-attested or validated against unsuitable or inconsistent control selection and limited and subjective assurance programs; which makes it difficult for relying parties to understand the control requirements and depth, breadth, and consistency of the assurance process, limiting the usefulness and reliability of the results.
“Often, organizations utilize mid-level assurance reports such as a SOC 2 report because they take less time and effort while being less costly. Unfortunately, these mid-level assurance reports lack the consistency and reliability of more comprehensive assessments like HITRUST,” said John Houston, Vice President of Information Security and Privacy at UPMC. “The HITRUST i1 Assessment fills a gap in the market for a medium assurance assessment that delivers a higher level of reliability and consistency while having a similar effort and cost to a SOC 2 report. And it can help the organization move towards full HITRUST CSF Certification—which organizations like UPMC view as the gold standard.”
While reliability is crucial for assurance, the accessibility, usability, and consumption of the results are just as important if organizations are to manage supply chain risk given evolving cyber threats. The current method of obtaining and consuming assessment results by the relying party often results in delays, inefficiencies, and misinterpretations as it is based on the exchange of PDF files that are reviewed to determine the scope, scoring, and corrective action plans before key information is often manually entered into a third-party risk management (TPRM) system.
To meet the expanding demand for effective information risk management across the supply chain, the HITRUST Results Distribution System (RDS) will enable assessed entities to deliver their HITRUST Assessment results through a secure, centralized reporting hub to relying parties, eliminating the need for exchanging PDFs and the manual review and entry into third-party systems that subsequently occurs. Recipients will be able to customize dashboards to view the results that interest them most, including scope, aggregate, or specific control scores. In addition, integration with GRC/VRM platforms will be available via API.
“For third-party risk management systems to achieve their full potential in helping organizations manage their vendor risk, assessment results need to be electronically shared and consumed,” said Jeremy Fisher, Vice President of Product at Archer. “HITRUST’s Results Distribution System is a big step in making that possible and will be a strong complement to our focus on vendor interaction through Archer Engage.”
The expansion of the HITRUST Assessment Portfolio and the addition of the RDS further extend HITRUST’s position as an innovator and leader in information risk management, compliance, and assurance. HITRUST continues to drive higher assurances and greater efficiencies into the assurance ecosystem. “HITRUST is building upon our market leadership in providing Rely-Able assurances by introducing moderate and low-level information assurance products,” said Bimal Sheth, Executive Vice President, Standards Development and Assurance Operations, HITRUST. “No other assessment or certification organization is able to meet the expanding global market need for information assessments and electronic results distribution.”
The industry standard r2 assessment (HITRUST CSF Validated Assessment) is currently available while the bC and i1 assessments will be offered to the market later this year. Any i1 or r2 assessment submitted with a reservation is backed by a service-level guarantee to deliver the assessment report within 45 days.
To Learn More:
Since it was founded in 2007, HITRUST has championed programs that safeguard sensitive information and manage information risk for organizations across all industries and throughout the third-party supply chain. In collaboration with privacy, information security, and risk management leaders from the public and private sectors, HITRUST develops, maintains, and provides broad access to its widely adopted common risk and compliance management frameworks as well as related assessment and assurance methodologies. For more information, visit www.hitrustalliance.net.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Media Contact: Marc Fitzpatrick, e: firstname.lastname@example.org, t: 469.269.1230
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Peru Holds a Ribbon Cutting Ceremony at Its Pavilion at Dubai Expo and Wins 4 World Travel Awards22.10.2021 19:15:00 CEST | Press release
The Dubai World Expo took place in an electrifying musical atmosphere where thousands of attendees were captivated by the variety of artistic, musical and cultural expressions that characterize the different regions of Peru. All this was part of the inauguration of the Peru Pavilion at the most important cultural event in the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211022005454/en/ Peru inaugurated its Pavilion at Expo 2020 Dubai and received four awards from the “Tourism Oscars.” (Photo: Business Wire) The Peru Pavilion was inaugurated by the Commissioner General for Peru at the Expo, Amora Carbajal, and Najeeb Mohammed Al-Ali, Executive Director of Expo 2020 Dubai, in front of official representatives from different country pavilions. “The purpose of the pavilion is to offer a complete learning experience about ancient Peruvian wisdom throughout the visit, communicating the importance of the heritage, biodive
Schlumberger Announces Third-Quarter 2021 Results22.10.2021 12:50:00 CEST | Press release
Schlumberger Limited (NYSE: SLB) today reported results for the third-quarter 2021. Third-Quarter Results(Stated in millions, except per share amounts)Three Months EndedChangeSept. 30, 2021Jun. 30, 2021Sept. 30, 2020SequentialYear-on-yearRevenue* $5,847 $5,634 $5,258 4% 11% Income (loss) before taxes - GAAP basis $691 $542 $(54) 28% n/m Net income (loss) - GAAP basis $550 $431 $(82) 28% n/m Diluted EPS (loss per share) - GAAP basis $0.39 $0.30 $(0.06) 30% n/m Adjusted EBITDA** $1,296 $1,198 $1,018 8% 27% Adjusted EBITDA margin** 22.2% 21.3% 19.4% 90 bps 280 bps Pretax segment operating income** $908 $807 $575 12% 58% Pretax segment operating margin** 15.5% 14.3% 10.9% 120 bps 460 bps Net income, excluding charges & credits** $514 $431 $228 19% 126% Diluted EPS, excluding charges & credits** $0.36 $0.30 $0.16 20% 125% Revenue by Geography International $4,675 $4,511 $4,210 4% 11% North America* 1,129 1,083 1,034 4% 9% Other 43 40 14 n/m n/m $5,847 $5,634 $5,258 4% 11% *Schlumberger dive
Disruptive.Asia: Huawei's Ryan Ding and Peng Song Discuss How Operators Can Leverage Connectivity to Unlock New Growth22.10.2021 12:30:00 CEST | Press release
Disruptive.Asia reported that Ryan Ding and Peng Song stressed the growing importance of connectivity in driving industry growth and generating value amid a rapidly evolving landscape at the 7th Ultra-Broadband Forum (UBBF 2021) in Dubai, which is jointly hosted by the UN Broadband Commission and Huawei. Ding, Executive Director of the Board and President of the Carrier Business Group, Huawei, said that connectivity has made it possible to innovate, especially in a digital age where increasing efficiency has become paramount. The pandemic has also ushered a paradigm shift in connectivity, as homes turned into multi-functional centers for education, work, and business. It became increasingly clear that connectivity not only drives digital economies forward but also maintains the functioning of society. Peng, President of the Global Carrier Marketing & Solution Sales Department, Huawei, said that looking at connectivity through Huawei's C.A.F (Coverage, Architecture and Fusion) model can
Suzano Brings Its Target for Capturing 40 Million Tons of Carbon From the Atmosphere Forward To 202522.10.2021 12:19:00 CEST | Press release
Suzano, the world's leading eucalyptus pulp producer and a global benchmark in the manufacture of bioproducts developed from eucalyptus, announces today that it has revised one of its 14 long-term goals – collectively known as Suzano’s “Commitments to Renewing Life”*. Suzano’s goal to remove 40 million tons of carbon from the air by 2030 has been brought forward by five years to 2025. With this revision, Suzano reinforces its capacity to make an even more positive contribution to the planet's climate by achieving net carbon removals from the atmosphere at a faster pace than previously expected. The new five-year target will be supported by the expansion of Suzano’s forest covering which will involve both an uplift in commercial planting operations and setting aside new designated conservation areas that were previously anthropized. Alongside these improvements, Suzano will maintain its focus on reducing carbon emissions across its own operations and supply chain and will continue to im
AntChain Launches Its First Security Chip and New Blockchain Platform Powered by Privacy Computing Technology22.10.2021 12:01:00 CEST | Press release
AntChain, the flagship technology brand of Ant Group, today unveiled two new products at the Apsara Conference 2021 in Hangzhou – the FAIR platform and the T1 security chip – to ensure the security and trustworthiness of data flows within blockchain networks. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211022005166/en/ Yan Ying, technical director of AntChain, unveiled the FAIR platform at the Apsara Conference on October 22, 2021. (Photo: Business Wire) Based on AntChain’s upgraded technical architecture, the FAIR platform natively integrates privacy-preserving computation (PPC) and blockchain technologies in a unified platform, unleashing the value of data flows over their entire lifecycle. FAIR is designed to address pain points in multi-party collaboration on data flows, which is increasingly common on the industrial internet. It replaces traditional “PPC plus blockchain” dual-system architecture, integrating the two
Total Telecom: Maximizing the Value of Connectivity22.10.2021 12:00:00 CEST | Press release
Total Telecom reported that industry leaders gathered recently at Ultra-Broadband Forum 2021, organized by UN Broadband Commission and Huawei, held in Dubai to discuss building future-proof networks sustainably. Total Telecom thinks that the expectations from digital connectivity have been redefined in the last one year. From conducting financial transactions online to remote factory management, the digital way of life is becoming pervasive. "Connectivity reshaped how we live and work when the pandemic hit in 2020. Connectivity is more than an expansion of functions, it is an emotional bond. As long as there is connectivity, there is a bond. Where there is connectivity, there is innovation. It presents us with unlimited possibilities. I believe in our shared mission to create a connected world," says Ryan Ding, Executive Director of the Board, President of the Carrier BG, Huawei, in his inaugural address. The C.A.F (Coverage, Architecture and Fusion) model is emerging as a way for the
Egle Therapeutics Raises 40 Million € Series a to Develop First-In-Class T-regulatory Cells Therapies Based On Treg-starvers22.10.2021 11:30:00 CEST | Press release
Egle Therapeutics SAS (Egle), an emerging biotechnology company focused on developing First-In-Class immunotherapies targeting immune suppressor regulatory T-cells (Tregs) for oncology and autoimmune diseases, today announces that it has completed a €40M ($46.4M) Series A financing. The Series A was co-led by LSP and Bpifrance through their InnoBio 2 fund. Fund+, Bioqube Ventures and Takeda Ventures, Inc. also participated in this round. Egle Therapeutics was founded in early 2020 with a vision to become a game changer in the field of Tregs immunomodulation through the unique concept of Tregs starving and specifically targeting the most immunosuppressive ones. Spun out of Institut Curie, Egle’s scientific foundation leverages unprecedented, computational-based, IL-2 modified variants and newly tumor-associated Treg targets to build a furnished pipeline of First-In-Class immunocytokines against Tregs. The new capital will be used primarily to advance 2 leads assets into the clinic and f