This paper outlines the key features and risks of the various forms of cloud computing and provides decision makers with the set of key issues to address when considering the adoption of cloud services. Cloud computing is a widely used format and we don't see this changing anytime soon. Before considering cloud computing technology, it is important to understand the risks involved when moving your business into the cloud. In spite of these concerns, there are myriad security measures in cloud computing that even surpass the standards of traditional IT. As you evaluate your choices and the associated risks, consider the following. �� 3. When thinking about cloud computing there are many non-functional dimensions which should be taken into account, including data protection, data security and data sovereignty. This blog entry is about managing risks and issues when providing cloud services to commercial customers. Subscribe to our communications to get business tips delivered straight to your Inbox. Vendor 5. The revised strategy retains the 'Cloud Computing Risk and Assurance Framework' that was developed and implemented under the authority of the NZ Government Chief Information Officer (GCIO). Randall Romes ; 5/8/2013 Cloud computing is here and virtually every organization is using it in some way, shape, or form. Before considering cloud computing technology, it is important to understand the risks involved when moving your business into the cloud. To Account or Service Traffic Hi… Financial. Standard cloud provider audit reports typically do not include vulnerability/penetration testing results. You should carry out a risk assessment process before any control is handed over to a service Cloud computing offers potential benefits including cost savings and improved business outcomes for Australian government agencies. �LL��D�1�a���C5gi��x:�vϾ��k�kd����9Ҡ_U��ڋ�}�)�>�Әȳ�4�՜�uN�عpA��s۳�������i��d� "CliftonLarsonAllen" and "CLA" refer to CliftonLarsonAllen LLP. [)�"�K���@[��C�z/�/�D|F�4�&�h��a��A�$� R����J������X_��v��Ѝ3)tT�t�� 6�6]L2�VbD���H0��jg�4�r����AC�E���t �e"���ň�`��jZ�xJ��1a�� L)�3vEx� The California license number is 7083. When thinking about cloud computing there are many non-functional dimensions which should be taken into account, including data protection, data security and data sovereignty. This is driven by certain controls not being tested, exclusion of pertinent systems, or other factor that require on-site testing. NIST SP 500-317 Cloud Computing Accessibility Considerations 2 225 2. Educating yourself and your people on the opportunities and risks associated with this technology is of the utmost importance. Cloud computing is surrounded by many security issues like securing data, and examining the utilization of cloud by the cloud computing vendors. However, many IT professionals are citing the increased risks associated with trusting information assets to the cloud as something that must be clearly understood and managed by relevant stakeholders. A cloud vendor risk management program provides a tailored set of security considerations, controls and requirements within a cloud computing environment through a phased life cycle approach. While cloud computing brings a number of benefits and innovations to companies, customers should also be aware of the security risks a platform can pose. They also have the flexibility to host their virtual IT infrastructure in locations offering the lowest cost. The most important classes of cloud-specific risks (see section 4 Risks) are: Cloud computing risk and assurance framework - Background to Government’s approach Along with great benefits, using cloud services also has risk. Cloud computing provides a scalable online environment that makes it possible to handle an increased volume of work without impacting system performance. The 2009 Cloud Risk Assessment contains a list of the top security risks related to Cloud computing. Knowing that you are managing the risks associated with housing your sensitive data offsite will give you confidence with the platform, so you can take advantage of the opportunities presented by the cloud. Exploring cognitive capabilities to find new opportunities in data or experimenting with new technologies that a cloud-native data platform can support are other areas to look at. However, there are a variety of information security risks that need to be carefully considered. 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