Process of Tracking and Managing Software and Hardware Vulnerabilities (with ISO 27001 standard)
Last updated: 01 December 2022
Ref: f4015ae1-0fdb-4523-a9d7-e1fcd4e0d880
Vulnerability Assessment and Management Process:
a. Regular vulnerability assessment is conducted at least once a year, or more frequently if required. This includes scanning the IT infrastructure and software systems to identify vulnerabilities.
b. All identified vulnerabilities are prioritized based on severity and the risk they pose to the organization.
c. Remediation plans are developed for all high-risk vulnerabilities, and a timeline will be established to fix the issues. Remediation plans are to be reviewed and approved by the Information Security Officer.
d. The remediation process is tracked until all high-risk vulnerabilities are resolved.
Asset Inventory Management: 
a. An up-to-date inventory of all hardware and software assets is being maintained. 
b. All hardware and software assets are assigned to responsible personnel. 
c. All assets are updated with the latest software patches and firmware updates. 
Change Management Process: 
a. Changes to the IT infrastructure or software systems are documented, reviewed, approved, and tested before implementation. 
b. All changes are tracked and audited. 
Configuration Management:
a. Standard configuration settings are defined and implemented for all hardware and software systems. 
b. Any deviations from the standard configurations will be identified and corrected.
Access Control: 
a. Access to all hardware and software systems is granted based on the principle of least privilege.
b. Access rights are reviewed and updated on a regular basis.
c. Unused accounts are being deleted, and passwords are being reset periodically. 
Incident Response: 
a. An incident response plan is developed, documented, and tested. 
b. Any security incidents will be promptly investigated and managed.
These processes will help Liqvid PTE. LTD to track and manage software and hardware vulnerabilities, and minimize the risk of security breaches. 
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