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03.11.01Risk assessmentITSP.10.171Risk assessment

Official Requirement

A. Assess the risk (including supply chain risk) of unauthorized disclosure resulting from the handling, processing, storage, or transmission of specified information. B. Update risk assessments [Assignment: organization-defined frequency].

Source: Canadian Centre for Cyber Security ITSP.10.171 (2025), adapted from NIST SP 800-171 Rev. 3

In Plain English

Your organization must conduct risk assessments that evaluate the likelihood and impact of unauthorized disclosure of sensitive information -- including risks from your supply chain. Risk assessments must cover processing, storage, and transmission of specified information and must be updated at a defined regular interval.

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The Trust Services Criteria referenced in this tool are published by the American Institute of Certified Public Accountants (AICPA) and incorporate principles from the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Criteria descriptions are reproduced for reference purposes. All implementation guidance, evidence recommendations, and control language are original work by Truvo Cyber. ISO 27001 and ISO 42001 are standards published by the International Organization for Standardization (ISO). Framework and standard names are the property of their respective owners. This tool is not affiliated with, endorsed by, or certified by AICPA, COSO, or ISO.

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On-premises implementation and evidence

Organizational risk assessment

Implementation steps

  1. Perform a formal risk assessment using an established methodology (e.g., NIST SP 800-30) to identify threats and vulnerabilities to specified information
  2. Assess supply chain risks including hardware and software vendors, service providers, and maintenance contractors
  3. Document risk findings with likelihood and impact ratings, and identify risk treatment decisions (accept, mitigate, transfer, avoid)
  4. Schedule and conduct risk assessment updates at the defined frequency and after significant system or environmental changes

Tools / systems

Evidence artifacts

Evidence frequency: Annual risk assessment (or at defined frequency); per-event updates for significant changes