Article Summary
Security audits are designed to detect vulnerabilities in software applications and security processes. Because human errors are the most significant source of cyber threats, all employees must adhere to security practices and compliance requirements. Performing a periodic cybersecurity audit will help protect your business from potential threats. In this article we discuss how security audits can help you make informed decision about your cybersecurity needs and investments.
Why You Should Perform A Cybersecurity Audit
A security risk assessment is an initial step toward identifying cybersecurity risks. Once you have completed your risk assessment, it’s time to prioritize them. It is also essential to consider a specific threat’s impact on your business partners.
Risk prioritization involves comparing the potential damage with the likelihood that a threat will materialize. Then, risk scores are assigned to each threat as well as assigning critical roles to executive management.
Cybersecurity Audits Expose Social Engineering Vulnerabilities
Security audits are designed to detect vulnerabilities in software applications and security processes. Audits test the effectiveness of cybersecurity controls by simulating an attacker’s behavior. These tests typically take place over the phone or the Internet, targeting specific employees, helpdesks, or processes.
Because human errors are the most significant source of cyber threats, all employees must adhere to security practices and compliance requirements. For example, they should not include sensitive information in emails as part of an overall business strategy. A security audit can uncover flaws in security practices, as well as identify the people who are most vulnerable to cybersecurity threats.
Security audits are conducted using both manual and automated processes. Multiple approaches are more effective at discovering key risks and vulnerabilities than automated tools because the testers can perform more detailed attacks on all digital assets. In contrast, white-box security audits require complete application and infrastructure knowledge.
In comparison, grey-box security audits rely on limited knowledge and basic abilities to maintain access (difference between grey and white-box testing).
Internal vs. External Cybersecurity Audits
Internal cybersecurity audits identify weak points in your cybersecurity posture and find vulnerabilities in critical assets. In addition to exposing essential infrastructure weaknesses, this type of audit can also reveal potential threats to intellectual property. These threats will require different kinds of solutions, depending on their nature and severity (i.e., cyber risk).
Some may need technological fixes, while others may require organizational changes championed by senior executives. It is essential to prioritize risks based on their likelihood, impact, and preparedness (i.e., risk management). Internal audits involve reviewing cybersecurity objectives, policies, security controls, practices, and infrastructure to identify vulnerabilities and weaknesses in the cyber resilience of your business.
These audits can highlight areas that require remediation before the external audit. Audits help prevent a company from failing an external audit, which can be costly. Moreover, an internal security audit can reduce the stress associated with an external cybersecurity audit.
Benefits of Working with a Third Party to Perform a Cybersecurity Audit
A third-party cybersecurity audit can help you improve your business by identifying vulnerabilities and other problems. Whether you have outdated technology; or upgrading critical infrastructure, getting a third party’s assessment of your cybersecurity framework is essential. These audits are often more thorough and can also be very cost-effective.
The first benefit of a cybersecurity audit is that it can identify any problems with your system and identify how your organization is protecting itself. An auditor will conduct an in-depth review of your network and software to find areas for improvement. This will enable you to stay ahead of cyber criminals and avoid costly fines.
An audit will also help you identify what laws and regulatory requirements apply to your business and identify critical areas that need extra protection.
Benefits of Conducting Regular Cybersecurity Audits
Performing a periodic cybersecurity audit will help protect your business from potential threats. Not only will you be able to assess your current system, but you will also have a baseline to compare future performance. Cybersecurity is constantly evolving, and you can only measure how well you protect your business against threats when you perform routine audits.
Therefore, conducting cybersecurity audits at least once every year is imperative as part of your disaster recovery or response plan. Performing a cybersecurity audit involves assessing your organization’s policies and procedures. It also involves interviews with individuals responsible for security and data protection.
A cybersecurity audit will provide you with enough information to make informed business decisions. If you have any questions about cybersecurity audits, contact us for a free consultation.
