A strong cybersecurity and risk posture is increasingly important in today’s business world, which is why it is imperative that private equity investors build cybersecurity and privacy modules into their due diligence. “Why Cybersecurity and Privacy Due Diligence is Important for Private Equity Firms”
Since 2007, the HITRUST Common Security Framework (CSF) has been recognized as a well-rounded and certifiable security framework for any organizations of all sizes and industries. With the upcoming CSF v9.3 update, HITRUST continues to demonstrate its value for any organization by expanding to incorporate new frameworks, legislation and standards.
What is the HITRUST CSF?
The HITRUST CSF is a scalable and extensive security framework used to efficiently manage the regulatory compliance and risk management of organizations. By unifying regulatory requirements and recognized frameworks from ISO 27001, NIST 800-171, HIPAA/HITECH, PCI DSS, GDPR and more into one comprehensive system, the HITRUST CSF saves time and energy by assessing once and reporting many.
Thanks to its ability to combine several assessments and frameworks into one framework, the HITRUST CSF allows clients to decide what they want to test against and get controls based on that level of risk. This “assess once, report many” approach means that assessors are performing several different audits, but the organization feels like they’re only undergoing one. Because of this benefit and its exhaustive focus on security, the HITRUST CSF has been adopted by organizations across different industries.
Originally designed specifically for the healthcare industry, the recent HITRUST CSF v9.2 grew the framework to make it useful for any organization around the globe.
CSF v9.3 will be released Q3 of 2019 and the HITRUST organization has detailed the additional regulatory factors that will be added to the framework.
Incorporation with the California Consumer Privacy Act
One of the most notable updates in CSF v9.3 is the incorporation of new standards and regulations, including requirements placed on organizations by the California Consumer Privacy Act (CCPA).
Passed in 2018, the CCPA was built to be similar to the European Union’s General Data Protection Regulation (GDPR) and takes a stronger stance to protect the sharing, transmission and storage of consumer data. The CCPA legislation goes into effect on January 1, 2020, with the enforcement of the law starting on July 1, 2020.
Not only does the HITRUST CSF v9.3 incorporate standards and regulations from the CCPA, it reflects key differences between the CCPA and GDPR, including requirements for data access, applicability and requirements for opt-out methods.
Other Important Updates to CSF v9.3
Aligning the HITRUST CSF with the CCPA is only one of the updates to the HITRUST framework. CSF v9.3 also updates the framework to incorporate other authoritative sources, including:
- The Federal Risk and Authorization Management Program (FedRAMP)
- The National Institute of Standards and Technology’s (NIST) Framework for Improving Critical Infrastructure Cybersecurity: Framework Core – Subcategories, v1.1
- Centers for Medicare & Medicaid Services’ (CMS) Information Security ARS: CMS Minimum Security Requirements for High Impact Data, version 3.1
- IRS Publication 1075: Tax Information Security Guidelines for Federal, State and Local Agencies: Safeguards for Protecting Federal Tax Returns and Return Information
- South Carolina’s Bill 4655, the Insurance Data Security Act
Who Should Migrate to CSF v9.3
If your entity wants to add any of the six regulatory factors outlined above to your HITRUST assessment, you will need to undergo CSF v9.3. If you are not interested in adding these factors, you can instead opt to undergo CSF v9.1 or CSF v9.2.
By giving organizations more choice to better fit their needs, the HITRUST CSF continues to position itself as a valuable, powerful and flexible framework for organizations of all sizes across all industries.
The A-LIGN Difference
A-LIGN’s experience and commitment to quality helped over 130 clients successfully achieve HITRUST certification. Our vigorous process outlined above helps you prepare for the HITRUST assessment, and our team of HITRUST experts are here to answer any question you might have through every step of the process by answering all inquiries within twenty-four hours. With A-LIGN, you’re on the right path to HITRUST certification success.
Interested in pursuing the HITRUST CSF for your organization? Contact A-LIGN at 1-888-702-5446 to speak with one of our cybersecurity and compliance professionals.