How ISO 27001 certification can help secure your business’s information

What is ISO 27001?

The ISO 27001 information security standard has existed since 2005. Developed by the International Organization for Standardization (ISO) in conjunction with the International Electrotechnical Commission (IEC), it enables companies to plan and implement an approach to managing the security of their information systems. 

“Recently, the demand for ISO 27001 certification has been exploding,” observes Isabelle Ledoux, Senior Business Advisor, BDC Advisory Services. This upsurge in interest by businesses for information security coincides with a series of information management system breaches and high-profile cyberattacks on large and small organizations. 

“Businesses are realizing that they can no longer neglect information security,” says Ledoux, who assists entrepreneurs who wish to obtain 27001 certification. 

What is the purpose of ISO 27001 standards?

Implementing security standards helps you manage the security of your most sensitive assets, such as:

• Financial data
• Documents concerning intellectual property
• Personal information
• All the information you need to run your business smoothly

The most common vulnerabilities exploited by criminals when it comes to information security are:

• System vulnerabilities: No system is perfect, and systems that are not regularly updated are juicy targets for criminals.
• Social engineering: Criminals will exploit human weaknesses through email phishing attacks, phone calls, deepfakes, text messages and other strategies that aim to get access to systems or obtain passwords.
• Credential theft: Inadequate or nonexistant access and password management or a lack thereof can leave your information vulnerable. 

The successful exploitation of these or other vulnerabilities opens the way to many different types of cybersecurity incidents such as ransomware attacks, data leaks, malware installation and more. Having good management practices and the right controls will help mitigate this risk.

ISO 27001 certification requires the company put in place mechanisms to ensure information security and to develop a continuity plan that details how it will maintain operations in the event of a cyberattack. What are the potential risks? What to do first? “We rank the risks, starting with those that have the largest impact on the company,” explains Isabelle Ledoux.

“It doesn’t prevent you from being hacked,” she acknowledges. “But it targets good practices and establishes solid contingency plans.”

5 steps to obtain ISO 27001 certification

1. Assess what is already in place

“Before we even start the certification process, we begin by taking stock,” notes the business advisor. “We assess what’s already in place.” A series of audits ensures that processes and systems are working.

“Unless you have the internal expertise, we recommend that businesses consult experts who are familiar with the standard’s requirements,” says Ledoux.

2. Establish the scope of the certification

Next, your company must establish the scope of the certification. A document containing more than 100 questions allows you to define risks, establish priorities and re-evaluate certain processes.
 
Obtaining certification makes it possible to redefine the broad outlines of existing mechanisms and identify the interactions among processes. It looks at all external and internal security threats and links them to your business objectives and key performance indicators. 

Your business needs to be resilient on all IT security front. “Imagine protecting customer data while leaving your IT infrastructure open to ransomware,” says Ledoux. “With ISO 27001, this type of scenario would not even arise because it requires you to protect your business and your customers.” 

Once it is obtained, the certification must be maintained. To do this, the business needs  to demonstrate the effectiveness of controls, including through annual internal audits, vulnerability assessments and penetration tests. 

3. Establish your information security management framework

More specifically, certification provides an IT security management framework for the entire organization. It covers practices, sound management and the establishment of responsible behaviours that are documented, repeatable and can be continuously improved. From private data processing to confidential information, including personal data, transactions, technical drawings, business plans, banking information and legal documents, ISO 27001 covers all aspects of information. 

For example, the certification defines the security standards to be adopted when an employee leaves the company. It establishes guidelines for recovering their materials, terminating their access, managing passwords and preventing malicious acts.

4. Train your team

In order for all this to happen and for your company to benefit from ISO 27001 certification, you must also rely on qualified internal resources. That is why certification cannot be achieved without comprehensive and in-depth training of your staff who will be responsible for information security and compliance. ISO 27001 is a general standard, and with the right training of your key employees, it can be adapted to your company.

5. Get your company certified

Only an external agency can certify your company. There are multiple accredited registrars. Your company must make a three-year commitment to the certification agency of your choice. BDC Advisory Services can help you demystify the submissions and assist you in your certification process. 

An advantage for selling abroad

“When you are 27001 certified, you are in a good position for international standards,” concludes Isabelle Ledoux. “Europe, Japan and the United States all have different standards.”

There are a growing number of countries voting comprehensive privacy laws. Examples include the EU’s General Data Protection Regulation (GDPR), The U.S.’s Health Insurance Portability and Accountability Act (HIPAA), California’s Consumer Privacy Act (CPA) and many more. In Canada, Quebec’s Law 25 and the upcoming revision of the federal Personal Information Protection and Electronic Documents Act (PIPEDA) could significantly impact businesses. 

These laws all ask the same question: How do you collect, use, store, archive, erase and protect personal information?

Companies needing to comply can face a real obstacle if they try to continue with business as usual. The ISO 27000 series, including the 27018 and 27701 extensions, can become an asset in meeting these requirements.

What are the ISO 27001 requirements?

ISO 27001 certification requires companies to adhere to a set of requirements and standards for information security management. These include:

1. Establishing an information security management system (ISMS) 

This is the core component of ISO 27001 certification, which outlines the policies and procedures for managing and protecting sensitive information within an organization.

2. Conducting risk assessments

Companies must identify potential risks to their information security and put in place measures to mitigate or eliminate them.

3. Developing a business continuity plan

This ensures that in the event of a cyberattack or disaster, the company can continue its operations without major interruptions.

Why is ISO 27001 important?

ISO 27001 is essential for several reasons.

First, it helps protect sensitive data from breaches and cyber threats, ensuring the confidentiality, integrity, and availability of information. By adhering to internationally recognized standards, you can enhance their reputation and gain trust from customers, partners and stakeholders.

Furthermore, achieving ISO 27001 certification demonstrates a commitment to information security at all organizational levels, which can give you a competitive edge, especially in industries or regions where regulatory compliance is stringent.

Additionally, the certification process encourages continuous improvement and accountability, fostering a proactive security culture that can adapt to evolving threats and maintain business resilience.

What is ISO 27001:2022?

ISO 27001:2022 is the latest version of the internationally recognized standard for ISMS. This revision builds upon the foundations set by previous iterations, introducing updates that reflect evolving threats and best practices. The standard provides a systematic approach to managing sensitive company and customer information, ensuring that it remains secure and protected from a variety of risks, including cyberattacks, data breaches, and internal threats.

This updated version also emphasizes the importance of integrating information security into the organization's culture and aligning security efforts with business objectives to ensure a comprehensive and cohesive approach to information security management.

What is the value of getting ISO 27001 certified?

Achieving ISO 27001 certification offers numerous internal and external benefits

What are ISO 27001 controls?

ISO 27001 controls are a comprehensive set of practices designed to manage and mitigate risks to information security within an organization. These controls are outlined in Annex A of the ISO 27001 standard and are grouped into 14 categories, each addressing different aspects of information security management. The primary aim of these controls is to ensure a robust security posture.

These controls serve as a guideline for implementing effective security practices as well as criteria against which an organizations are evaluated during the certification process. By applying these controls, organizations can enhance their resilience against threats, safeguard their information assets and demonstrate their commitment to information security.

Next step

Learn how BDC could help guide your company toward successful ISO 27001 certification,