Obtaining the ISO 27001 accreditation is necessary when your company’s information is open to being manipulated and or bullied. The sensitive data of employees, management, and other stakeholders are often falling prey to third-party infringement and online scams. Companies often compromise a large sum of their profits as they have to pay hefty penalties for violating government rules for information security.
Small companies often show negligence in obtaining this certification as they think the charges will be beyond their budget. In reality, that is quite the opposite. The ISO 27001 is the ultimate standard for achieving success with data safety management. The present blog will talk about the accreditation cost in detail.
1.Initial Assessment and Gap Analysis
Cost: AUD 2,000 – AUD 5,000
Description: This involves an initial assessment to understand your current information security posture and identify gaps compared to the ISO 27001 requirements.
2.Consultancy Services
Cost: AUD 10,000 – AUD 50,000
Description: Hiring a consultant can help with the implementation process, including developing policies, procedures, and controls. Costs depend on the level of support required and the duration of the engagement.
3.Internal Resources and Training
Cost: AUD 1,000 – AUD 10,000
Description: Training your staff on ISO 27001 requirements and their roles within the ISMS. This may include internal workshops or external courses.
4.Pre-certification Audit
Cost: AUD 2,000 – AUD 5,000
Description: Conducting an internal audit or a pre-certification audit to ensure readiness for the formal certification audit.
5.Certification Audit
Cost: AUD 5,000 – AUD 15,000
Description: The certification audit is performed by an accredited certification body. The cost depends on the size of the organisation, the scope of certification, and the number of audit days required.
6.Surveillance Audits
Cost: AUD 2,000 – AUD 10,000 per year
Description: After initial certification, surveillance audits are conducted annually to ensure ongoing compliance. These are less extensive than the initial certification audit.
7.Recertification Audit
Cost: AUD 5,000 – AUD 15,000 (every three years)
Description: Recertification audits are required every three years in order to maintain the ISO 27001 certification. This involves a comprehensive review similar to the initial certification audit.
Total Estimated Cost
Small Organization (up to 50 employees): AUD 20,000 – AUD 40,000 for initial certification, plus AUD 2,000 – AUD 10,000 annually for surveillance audits.
Medium Organization (50-200 employees): AUD 40,000 – AUD 70,000 for initial certification, plus AUD 5,000 – AUD 15,000 annually for surveillance audits.
Large Organization (200+ employees): Costs can exceed AUD 70,000, depending on the complexity and scope of the ISMS, with annual surveillance audits costing more.
Factors Influencing Cost
Organisation Size: Larger organisations generally require more extensive audits.
Scope of ISMS: A broader scope covering more departments or locations increases complexity and cost.
Internal Expertise: Organizations with existing expertise may reduce consultancy costs.
Certification Body: Different certification bodies may have varying fee structures.
Pre-existing Compliance: Organizations already compliant with other standards (e.g., ISO 9001) may find it easier and cheaper to achieve ISO 27001.
Use Internal Resources: Maximize the use of internal resources and expertise to reduce consultancy costs.
Training and Awareness: Invest in staff training early to build internal capabilities.
Streamline Scope: Limit the initial scope of certification to critical areas to manage costs, then expand later if needed.
Select the Right Certification Body: Compare quotes and services from multiple certification bodies to find the best fit for your organisation.
To find the right professional support for implementing an ISO quality management system standard and internal audit requirement, contact us at Compliancehelp. We are the premier firm that can help you achieve any ISO certification, and we are based in Australia. Our customised solutions for ISO and other global certifications are ready to make this seemingly exhausting accreditation process, comfortable and ensure it is completed on time. From basic consultation to audit and analysis, we will cover everything. Get our help answering any questions you have regarding the clauses of any management system standard you require. Ask our certified professionals about the ISO 27001 accreditation and meet compliance without any hassle.
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