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IDHub & Energy Industry Compliance

IDHub is designed to help your organization manage and control access to your target systems and sensitive data. If your business operates In the energy sector, IDHub will help your organization comply with regulatory requirements such as Sarbanes-Oxley (SOX) and the Federal Energy Regulatory Commission (FERC) regulations.

What are SOX and FERC regulations?

Two different regulatory frameworks, SOX and FERC, apply to various facets of your company's activities. The Sarbanes-Oxley Act (SOX), a US federal law passed in 2002, intends to boost transparency and responsibility in the business sector while also enhancing the quality and dependability of company declarations and accounting records. Your organisation must set up, upkeep, and have an outside auditor evaluate its internal control systems and processes for financial reporting by SOX.

The Federal Energy Regulatory Commission (FERC), an impartial organisation, oversees the US energy sector. The main responsibilities of the FERC are to uphold the grid's reliability and security, to promote competition in the energy markets, and to regulate the costs and terms that apply to energy suppliers' services. If your company operates in the energy industry, you must adhere to FERC rules and conformance.

How does IDHub help your organization to comply with SOX & FERC regulations?

User identification and approval

According to one's position and duties inside the organisation, IDHub authorises users and grants them the proper access privileges. This makes it easier to make sure that only people with permission may access critical information and systems.

Tracking and reporting of user behaviour

You can track user activity using IDHub and create reports that show when and who accessed what data. This aids in detecting and reacting to any possible security events or compliance breaches inside your organisation.

Role-based access control (RBAC)

By adopting IDHub, you can establish RBAC rules that will define the access rights associated with various user roles inside your company. This will assist you in ensuring that users have access to just the systems and data they require to carry out their job duties.

Reporting on compliance

IDHub can produce comprehensive reports that enable your business to prove its compliance with SOX and FERC regulations. These reports will assist your company in handling audits, preparing for them, and proving that it complies with FERC regulations.

Overall, IDHub will be a crucial tool for your business as it works to manage access restrictions and adhere to legal obligations. Additionally, it will assist you in strengthening your company's security posture, lowering the risk of data breaches, and proving compliance with FERC regulations, SOX, and other legal obligations.