Information security risk management

The Statement of Applicability (SoA) is a key document that defines how an organization implements much of its cyber security.

The statement describes which of the controls recommended by ISO 27001 are implemented in the organization, how they are implemented, and the current state of the controls. In addition, possible reasons for not using certain controls are described.

The organization has defined procedures for assessing and treating cyber security risks. The definition includes at least:

• Risk identification methods
• Methods for risk analysis
• Criteria for risk evaluation (impact and likelihood)
• Risk priorisation, treatment options and defining control tasks
• Risk acceptance criteria
• Process implementation cycle, resourcing and responsibilities

The task owner regularly checks that the procedure is clear and produces consistent results.

The organization proactively seeks to list and assess the likelihood and severity of various cyber security risks. The documentation shall include the following:

• Description of the risk
• Evaluated impact and likelihood of the risk
• Tasks for managing the risk or other treatment options
• Acceptability of the risk

The organization must determine an acceptable level for risks. The level is calculated based on the likelihood, impact and control of the risks.