All levels have their own individual cost and timetable – from the information discovery procedure to GDPR customer privacy alerts, to training staff.
Some factors to be mindful of:
The points listed below will assist you in locating what you need more effectively. Moreover, this handy list will determine the cost of compliance. So, use this list and the templates provided, regardless of how much GDPR affects your business.
GDPR Audit Cost Inventory for Compliance
1) Your company should be an information controller or information processor. Therefore, each of these is held to account to safeguard your information, and there are specific demands to be met by processors or controllers.
2) Above all, know your risk level; in cases of risks associated with securing personal information, extra controls are used.
3) The number of business processes that handle data impacts the cost. Consequently, the more the number, the higher the cost. Furthermore, it is vital for your company to process every piece of personal information.
4) Are you aware of how many separate repositories are being utilized to hold personal information?
5) What number of companies does your organization share information with? In addition, do you have policies in place to check third party compliance?
6) For example, your company transfers personal information to organizations in countries outside of the EU. In these situations, you need to check that your agreements with these organizations incorporate GDPR rules for personal information protection.
7) Your organization should store information for the smallest quantity of time necessary.
8) However, to deal with all the information, processes for correcting, accessing, transferring, updating, removing, holding and restricting personal information should be introduced.
9) A lawyer must review your contracts, to make sure that your dealings with vendors and clients comply with the new Data Protection laws.