Managing access rights for users has persistently posed a challenge for organizations, regardless of their size or industry. Access governance aims to enhance productivity while minimizing security risks. Additionally, maintaining a transparent overview of individuals with access to particular digital assets and ensuring the legitimacy of that access within compliance boundaries remains an obstacle.      

Additionally, the complex and time-consuming aspect of access reviews, combined with a shortage of vital context, hinders reviewers’ capacity to make well-informed decisions regarding a user’s access. This lack of clarity frequently leads organizations to resort to a “rubber stamp” approval method, leading to widespread approvals that neglect to retract overprivileged user rights.     

These challenges collectively impede your organization from reducing or eradicating access risks and, in the end, meeting compliance standards.This is where access governance can emerge as your most valuable asset in compliance and audit procedures.  

Managing your Privileged Access Governance Compliance and Audit Capabilities

Audit and compliance are integral parts of access governance, ensuring that your organization’s access policies and practices follow regulations, internal standards, and industry best practices. In addition, compliance and audit procedures play a crucial role in ensuring that your access governance aligns with regulatory mandates and industry benchmarks. Adhering to best practices and implementing a robust access governance solution not only strengthens security but also fosters trust with stakeholders, safeguarding valuable data.

Completing Audit Processes

Audit processes are necessary in verifying that your access governance practices function as they are supposed to. Not having access audits leads to incidents like the Cash App Investing breach carried out by a former employee. The perpetrator accessed and downloaded internal Cash App reports with information on more than 8 million current and former application users.

This includes the following:

Incident Response. Establishing protocols and workflows to promptly address breaches or instances of non-compliance.

Access Reviews. Conducting regular evaluations of user access to detect unauthorized or potentially risky permissions.

Reporting and record-keeping. Furnishing clear documentation of access governance activities for both internal and external audits.

Logging and Monitoring. Recording and scrutinizing access-related events and incidents to ensure comprehensive monitoring and analysis.

5 Privileged Access Governance Capabilities for Compliance and Audit

To effectively fulfill your compliance and audit responsibilities, it is crucial to incorporate the following essential practices and capabilities:

1. Streamlined Access Reviews. Harness technology to automate the certification and review of access, enhancing efficiency and accuracy in the process.

2. Centralized Audit Vault. Seek a solution that establishes a centralized hub for all compliance and audit documentation, which ensures comprehensive capture, analysis, and resolution of all access-related events.

3. Incident Response Framework. Verify that your chosen solution includes workflow notifications to promptly alert managers in case of incidents, facilitating swift action against breaches or non-compliance.

4. User-Friendly Self-Service. Opt for a solution offering user-friendly self-service option for requesting access bundles or roles, promoting efficiency and encouraging user involvement in access governance tasks.

5. Continuous Compliance. Ensure your access governance solution provider stays abreast of changes in regulations and industry standards that affect access governance to maintain robust protection.

Robust access governance solutions streamline access control through automation, providing heightened visibility and informed decision-making while harmonizing with your compliance goals. The integration of a cloud-native service expands your organization’s compliance and audit capabilities, allowing for deeper insights into access management.

It’s important to recognize that compliance and audit responsibilities are continual endeavors. Staying abreast of evolving security protocols and regulatory shifts is paramount to sustaining a resilient and compliant privileged access management system.