Internal Audit and Cybersecurity

Internal Audit : A Key Cybersecurity Ally
Cybersecurity has been the biggest concern for every enterprises—no matter how huge it is. In 2015, around 1.500 business and technology executives in 12 countries, fell into the prey of sophisticated cyberattacks.
Being so intimidating, cyberattacks have the power to look over for a company or organization’s sensitive data, including its financial position, vision, even its credibility. For a very long time, this issue has been the issue for the IT only. However, thinking about how fast this threat can evolve and attack the system, a more coordinated approach to cybersecurity risk management is needed. As one of line the defense along with IT, internal audit has important role to reviewing security controls and measures, which is implemented in below further explanation;
Internal Audit and Cybersecurity
Internal audit main role is to provide regular-comprehensive reports about the emerging cyber risks and the cybersecurity regulations. This can be done by identifying the vulnerabilities, then finding the effort to minimize it. Then, this effort should be formulated into the reports, and some adequate controls, policies, and procedures in place. The crucial part is to ensure that this regulations (controls, policies, and procedures) are being followed.
Strengthening Collaboration Between Internal Audit and the IT Function
The collaboration that internal audit and IT have is in the process of making and maximizing the controls that IT will later design. These could be done only if internal audit providing the independent and unbiased review of information security frameworks and controls. The report will also address the loopholes and downside of the previous control. In other words, not only the cyberattack that is evolving, but the preventive, detective, and corrective control should also be evolving.
Adopting an Integrated Approach to Cybersecurity Auditing
Maintaining is the next vision. The mission is to have a centralized data collecter where internal audit and IT teams can easily maintain, access, and share crucial data—including the map of security risks to auditable entities, IT assets, controls, regulations, and other key factors. Eventually, this integrated data will help internal audit having the big view of how a control could impact the interprise as a whole.
Facilitating Risk-based Audits
The main and last objection is developing intelligence for risk-based auditing through risk-analysis-and-appraisal. The result data is the fundamental for internal audit to develop a systematic, well-defined and risk-based audit plan, that will bring them to the real-time visibility into the next cyberattacks’ risks and controls.
In the end, Internal audit is a pivotal ally, and must join forces with IT, in association with the board, management, and front line units, to build a truly robust cybersecurity strategy that focuses on anticipating and mitigating risks, and building organizational resilience.