Including GRC Principles in IoT Security: A Comparison of Current Approaches and Future Prospects

Abstract

With its ability to provide seamless communication between systems and objects, the Internet of Things (IoT) has completely changed the way we engage with technology. However, because the Internet of Things (IoT) ecosystem consists of a diverse variety of devices with differing security and compliance requirements, this interconnection also presents substantial issues for security, privacy, and compliance. In order to solve these issues, this research attempts to present a thorough examination of how Governance, Risk, and Compliance (GRC) concepts might be included into IoT security frameworks. The first section of the report provides an overview of IoT security as it is now, stressing the dangers and weaknesses that the ecosystem faces. The use of GRC concepts to reducing these risks and guaranteeing adherence to pertinent laws and guidelines is next covered. Through the incorporation of GRC concepts into IoT security frameworks, entities may adopt a comprehensive strategy for risk management and compliance assurance throughout the IoT ecosystem. A comparative study of current approaches that incorporate GRC guidelines into IoT security frameworks is also part of the project. This review assesses the benefits and drawbacks of various solutions, highlighting typical problems and suggested approaches for applying GRC concepts to IoT security. The study suggests potential options for incorporating GRC concepts into IoT security frameworks based on the comparative analysis's findings. In order to improve security and compliance in IoT systems, these include adopting new technologies like blockchain and artificial intelligence as well as developing standardized frameworks and protocols for integrating GRC concepts in IoT security. All things considered, this study offers insightful information about how GRC principles may be included into IoT security frameworks, providing useful advice for businesses trying to improve their IoT security posture and guarantee compliance with pertinent laws and standards.