Standards Comparison

    DORA

    Mandatory
    2023

    EU regulation for digital operational resilience in financial sector

    VS

    ISO 26000

    Voluntary
    2010

    International guidance standard for social responsibility.

    Quick Verdict

    DORA mandates digital resilience for EU financial entities via ICT risk management and testing, while ISO 26000 offers voluntary guidance on social responsibility principles for all organizations. Financial firms adopt DORA for compliance; others use ISO 26000 for ethical integration and stakeholder trust.

    Digital Operational Resilience

    DORA

    Regulation (EU) 2022/2554, Digital Operational Resilience Act (DORA)

    Cost
    €€€€
    Complexity
    Medium
    Implementation Time
    18-24 months

    Key Features

    • Comprehensive ICT risk management frameworks overseen by management body
    • 4-hour initial incident reporting for major disruptions
    • Triennial threat-led penetration testing for critical entities
    • Oversight of critical third-party ICT providers via ESAs
    • Harmonized resilience rules across EU financial entities
    Social Responsibility

    ISO 26000

    ISO 26000:2010 Guidance on social responsibility

    Cost
    €€€
    Complexity
    High
    Implementation Time
    12-18 months

    Key Features

    • Seven core subjects covering holistic social responsibility
    • Seven principles as cross-cutting decision criteria
    • Non-certifiable guidance for all organization types
    • Stakeholder engagement for issue prioritization
    • Integration with management systems like ISO 14001

    Detailed Analysis

    A comprehensive look at the specific requirements, scope, and impact of each standard.

    DORA Details

    What It Is

    Digital Operational Resilience Act (DORA), Regulation (EU) 2022/2554, is an EU regulatory framework enhancing financial sector resilience against ICT risks like cyberattacks and failures. It targets 20 financial entity types and critical third-party providers (CTPPs), using a proportional, risk-based approach.

    Key Components

    • **ICT Risk ManagementFrameworks for identification, mitigation, and reviews.
    • **Incident Reporting4-hour alerts, 72-hour updates, 1-month analyses.
    • **Resilience TestingAnnual tests, triennial TLPT.
    • **Third-Party OversightDue diligence, monitoring, ESAs supervision. Compliance enforced via penalties up to 2% turnover; no certification.

    Why Organizations Use It

    Mandated by January 2025, DORA ensures legal compliance, reduces systemic risks, boosts cyber defenses, fosters trust, and drives tool investments amid rising threats like ransomware (74% affected).

    Implementation Overview

    Conduct gap analyses, build frameworks, run tests, manage vendors. Applies EU-wide to ~22,000 entities; proportionality aids smaller firms. Ongoing audits required.

    ISO 26000 Details

    What It Is

    ISO 26000:2010 is the international guidance standard on social responsibility (SR), providing a voluntary framework applicable to all organizations regardless of size, type, or location. Its primary purpose is to help organizations integrate SR into governance, strategy, and operations through principles-based guidance, emphasizing stakeholder engagement and contextual prioritization rather than certifiable requirements.

    Key Components

    • **Seven core subjectsorganizational governance, human rights, labor practices, environment, fair operating practices, consumer issues, community involvement.
    • **Seven principlesaccountability, transparency, ethical behavior, respect for stakeholder interests, rule of law, international norms, human rights.
    • Built on multi-stakeholder consensus; non-certifiable model focuses on self-assessment and transparent reporting.

    Why Organizations Use It

    Enhances sustainability commitment, risk management, and stakeholder trust; aligns with SDGs, OECD, GRI; reduces reputational risks, improves resilience, unlocks market access and investor appeal without certification burdens.

    Implementation Overview

    Phased approach: materiality assessment, stakeholder engagement, policy integration into management systems (e.g., ISO 14001), training, supplier due diligence, ongoing reporting. Universal applicability; no audits required, but third-party assurance recommended for credibility. (178 words)

    Key Differences

    Scope

    DORA
    Digital operational resilience in finance
    ISO 26000
    Social responsibility across seven core subjects

    Industry

    DORA
    EU financial entities and ICT providers
    ISO 26000
    All organizations worldwide, all sectors

    Nature

    DORA
    Mandatory EU regulation with enforcement
    ISO 26000
    Voluntary non-certifiable guidance

    Testing

    DORA
    Annual basic tests, triennial TLPT
    ISO 26000
    No mandatory testing or audits

    Penalties

    DORA
    Up to 2% global turnover fines
    ISO 26000
    No legal penalties or enforcement

    Frequently Asked Questions

    Common questions about DORA and ISO 26000

    DORA FAQ

    ISO 26000 FAQ

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