Question

In: Accounting

discuss about on controls specific to confidentiality and privacy of corporate and customer iinformation

discuss about on controls specific to confidentiality and privacy of corporate and customer iinformation

Solutions

Expert Solution

Privacy and Confidentiality are commonly used interchangeably,They are related but not identical concepts. Privacy refers to the right to control access to oneself, and includes physical privacy such as ensuring curtains are closed during physical examinations.Privacy may also relate to information about oneself.

Confidentiality relates to information only.It s the protection of information. Confidentiality means keeping a client’s information between you and the client, and not telling others including co-workers, friends, family, etc.

With the escalation and increase in cybercrime threatening both the public and private sector, it’s important for organizations to have a data security policy in place. Making sure all company data is private and being used properly can be a near-impossible task that involves multiple layers of security, including technology that scans for vulnerabilities continually. When formulating a data security policy, it is important to look at all threats and to cover more than just the basics.

A number of mechanisms and measures are in place to ensure that privacy is respected and confidentiality is protected, including the following:

1 Mandatory obligations for employees

2 Training

3 Strong culture of respect for the need for privacy and confidentiality

4 Physical security

5 Information technology (IT) security

6 Disclosure control

7 Record-linkage control

8 Privacy impact assessments

9 Measures to protect confidentiality while granting access to confidential information for statistical and/or research purposes


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