What is ISO 27001?
ISO 27001 is an international standard for an Information Security Management System (ISMS). This standard helps organizations systematically manage information security risks and ensure:
- Confidentiality – Only authorized persons have access to information;
- Integrity – Data is accurate and not changed unwanted;
- Availability – Information is accessible when needed.
Organizations that implement and become certified to ISO 27001 take into account best practices in the field of information security.
What is ISAE 3402?
ISAE 3402 (International Standard on Assurance Engagements) is a standard that helps service organizations demonstrate that their internal controls are effective, particularly in relation to their clients’ financial reporting.
There are two types of ISAE 3402 reports:
- Type I: Assesses the design and implementation of internal controls at a specific point in time;
- Type II: Assesses not only the design and implementation, but also the operational effectiveness over a longer period.
ISAE 3402 vs ISO 27001: the differences
While ISO 27001 and ISAE 3402 both focus on risk management and controls, there are some important differences:
- Scope and objective:
- ISO 27001 focuses on the protection of information within an organization through an ISMS;
- ISAE 3402 provides assurance on internal controls that affect the financial reporting of customers.
Certification vs. Assurance:
- ISO 27001 results in a certification by an independent certification body;
- ISAE 3402 results in an Assurance report that is prepared by an auditor.
- Scope:
- ISO 27001 is applicable to any organization that wants to strengthen its information security;
- ISAE 3402 is specifically intended for service organizations whose processes affect the financial reporting of customers.
ISAE 3402 and ISO 27001: Possible integration
Many organizations choose to combine ISAE 3402 and ISO 27001 in their internal control framework. By integrating the standards, companies can work more efficiently and reduce duplicate controls. This ensures:
- Consistent controls
Within both information security and financial control; - More efficient audit management
Because the same internal processes are assessed; - Increased certainty for customers
About both information security and financial reporting.