DORA

DORA (Digital Operational Resilience Act) Audit

The DORA Audit service provides a comprehensive assessment of your organization’s compliance with the Digital Operational Resilience Act. The audit process is structured to evaluate governance, risk management, incident handling, and third-party management in accordance with DORA requirements. The audit consists of the following key checks:

Audit Focus Areas:

  1. DORA Scoping
    • Review of the DORA Scoping Document, ensuring it accurately maps all critical systems, services, and dependencies.
    • Verification of the Roles & Responsibilities Matrix for DORA compliance.
  2. Governance and ICT Risk Management
    • Assessment of the organization’s Governance Framework to ensure DORA-specific responsibilities are integrated.
    • Evaluation of the ICT Risk Management Policy for DORA alignment, including the identification, mitigation, and monitoring of ICT risks.
  3. ICT Incident Management and Reporting
    • Review of the Incident Management Policy, ensuring alignment with DORA’s incident reporting requirements.
    • Assessment of existing incident response procedures, ensuring they meet regulatory timelines for ICT disruptions.
    • Examination of Incident Reporting Templates to verify they meet regulatory submission standards.
  4. Digital Operational Resilience Testing
    • Assessment of testing and monitoring procedures to ensure operational resilience testing is conducted in line with DORA requirements.
    • Review of stress testing and recovery exercises, confirming documentation and effectiveness.
  5. ICT Third-Party Risk Management
    • Evaluation of the Third-Party Risk Management Policy, ensuring that it addresses DORA-specific requirements.
    • Review of vendor contracts to ensure they include DORA-aligned clauses regarding ICT resilience and risk.
    • Assessment of third-party monitoring and auditing processes.
  6. Information Sharing and Threat Intelligence
    • Review of threat intelligence sharing protocols, ensuring they comply with DORA requirements.
    • Evaluation of secure communication plans with authorities and stakeholders in the event of an incident.

Reporting:

After the audit, a compreh

This streamlined audit process ensures that your organization is fully prepared to meet the regulatory requirements of DORA, with clear visibility into areas needing improvement.

Frequently Asked Questions (FAQ)

  • 1: What is DORA, and why is it important?

    DORA (Digital Operational Resilience Act) is a European regulation aimed at ensuring that financial institutions and other critical service providers maintain robust operational resilience against digital disruptions, cyber incidents, and ICT-related risks. It is essential to comply with DORA to avoid regulatory penalties and ensure uninterrupted service delivery.

  • 2: How long does a DORA audit take?

    The duration of a DORA audit depends on the complexity and size of your organization. Typically, it can range from a few weeks to several months, depending on the scope of systems and services under audit.

  • What are the key areas reviewed during the DORA audit?

    The audit focuses on several critical areas, including:

    • Scoping and system mapping
    • Governance and ICT risk management
    • Incident management and reporting
    • Operational resilience testing
    • Third-party risk management
    • Threat intelligence and information sharing
  • 4: What happens if we identify gaps during the audit?

    If gaps in compliance are identified during the audit, they will be documented in the audit report, along with practical recommendations for remediation. Your organization can then implement corrective actions to close the gaps and strengthen compliance.

  • 5: How does DORA affect third-party service providers?

    DORA places strong emphasis on managing ICT-related risks from third-party vendors. Organizations must ensure that third-party contracts, monitoring, and auditing processes are aligned with DORA’s requirements to mitigate risks from external providers.

  • 6: What kind of testing is required under DORA?

    DORA mandates operational resilience testing, including stress testing and recovery exercises, to ensure your systems can withstand and recover from digital disruptions. These tests should be regularly documented and aligned with the regulatory framework.

  • 7: Does the audit include incident reporting to regulatory authorities?

    The audit assesses your organization’s incident reporting capabilities, but the responsibility to report incidents to regulatory authorities remains with your organization. The audit will ensure that your incident reporting procedures are aligned with DORA’s requirements.

  • 8: What should we do after the DORA audit is completed?

    After the audit, you should review the findings and implement any recommended changes to improve compliance. It’s also important to maintain ongoing monitoring, testing, and updates to your policies to ensure long-term DORA compliance.

  • 9: Is DORA compliance mandatory for all financial institutions?

    Yes, DORA is mandatory for all financial institutions, including banks, investment firms, and payment service providers operating within the European Union. It also applies to critical third-party ICT service providers to the financial sector.

  • 10: How often should we conduct a DORA audit?

    Regular audits are recommended to ensure continuous compliance with DORA. Many organizations conduct annual audits or review their compliance when significant changes are made to their ICT infrastructure or service offerings.