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Emerging best practices
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Accounting and data assets
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- Map databases to improve visibility of data assets, their quality and their compliance.
- Integrate data protection requirements (legal basis, data quality, accuracy, retention, governance) into accounting processes.
- Involve DPOs and compliance functions in discussions regarding the recognition and valuation of data assets.
- Carry out regular revaluations of data assets and take into account risks that may affect their future value.
- Adapt accounting and valuation methods to the realities of the data-driven economy.
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Financial valuation and transactions
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- Adopt an integrated approach that takes into account both the benefits derived from data and the costs or risks associated with its governance, compliance and security.
- Incorporate risks relating to data quality, compliance and cybersecurity into valuation exercises.
- Document the compliance status of data processing in investment, financing and M&A transactions.
- Incorporate data protection considerations into analyses of future cash flows and valuation models.
- Establish remediation roadmaps to address risks identified during due diligence and support post-transaction value creation.
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Data governance
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- Develop a formalised data governance and compliance strategy that has been approved by senior management and the board of directors.
- Define indicators to monitor data quality, associated risks and expected benefits.
- Treat data protection as a strategic priority that contributes to trust and value creation.
- Strengthen the involvement of management bodies in data governance and the management of associated risks.
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Artificial intelligence
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- Integrate data protection into AI governance frameworks to ensure consistency between innovation, compliance and risk management.
- Develop coordinated approaches across teams responsible for AI, data governance, compliance and risk management.
- Use data governance principles to enhance the quality and reliability of the data used in AI systems.
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Cybersecurity and resilience
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- Integrate data protection considerations into cyber resilience strategies.
- Assess the financial and reputational impacts of data breaches and cyber incidents.
- Quantify data-related risks and carry out simulation exercises or resilience tests.
- Provide senior management with a consolidated overview of cyber and data-related risks.
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Certifications and trust mechanismse
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- Use certifications and codes of conduct as mechanisms for demonstrating compliance.
- Build confidence in the quality, lawfulness and governance of data assets.
- Facilitate due diligence processes in financial transactions and M&A deals.
- Support the assessment of risks associated with data and artificial intelligence systems.
- Turn compliance into a differentiating factor and a competitive advantage.
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