Document background
The IT Risk Assessment Policy serves as a foundational document for organizations operating in Canada to systematically identify, assess, and manage technology-related risks. This policy is essential for ensuring compliance with Canadian federal legislation such as PIPEDA, provincial privacy laws, and industry-specific regulations, while also incorporating international best practices and standards. Organizations should implement this policy to establish a structured approach to evaluating IT risks, including cybersecurity threats, data privacy concerns, and operational vulnerabilities. The policy is particularly relevant in today's digital landscape where organizations face increasing technological complexity and evolving cyber threats. It provides a framework for regular risk assessments, defines responsibilities across the organization, and establishes procedures for risk mitigation and ongoing monitoring. The document should be reviewed and updated periodically to reflect changes in technology, regulatory requirements, and business operations.
