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Cybercrime is one of the world’s fast-growing and most lucrative industries, and the costs associated with data breaches and cyber-attacks can be debilitating. Many organizations list cyber security as one of their top priorities and have begun to integrate it with the overall business strategy, but they must stop reacting and instead anticipate cyber-attacks. An internal audit of cyber risk factors will help organizations to assess the overall strategy from governance, architectural, operational and technological perspectives to create a well-defined approach to cyber threats.
Internal audits should consider these five cyber risk factors to protect the company’s assets and work to reduce the potential for data breaches:
With a thorough understanding of the business’s objectives, risks, and process, the internal audit function can fully address cyber security challenges in all areas of the business, including business goals and strategy, framework alignment, emerging risks and threats, and talent and staffing.
Learn how KPMG can help your organization to evaluate its cyber security risks and respond rapidly to threats in “The role of internal audit in cyber security readiness.”