This article has been submitted by Cyberlaw
The damage to business reputation, quite apart from financial loss itself, of a cyber-attack, is well documented. Cyber criminals are using more and more sophisticated techniques to take advantage of business systems’ vulnerabilities. The first in a series of three, this article examines why a business should carry out a cyber audit, and what such an audit would involve. Further articles will look at security improvement plans, and incident response.
A failure to protect data comes with serious consequences from regulatory non-compliance to total paralysis of your business. Contracts increasingly include security requirements with commercial penalties. New regulations such as EUGDPR will make UK businesses subject to the most stringent data protection laws in the world. It is essential that businesses prepare for the introduction of these regulations. Reputational damage associated with a cyber-attack can severely compromise customer trust and impact business continuity. A thorough and robust independent audit can avoid the inherent conflict of interest with IT teams, who are often responsible for vulnerabilities.
A cyber security audit assesses the level of capability your organisation possesses to withstand a cyber-attack by assessing your technical controls, business processes and people to identify the likely success of attackers of varying skill. It can find the gaps in your organisations infrastructure and enable executives to understand their exposure against their risk profile.
The results of the audit lead to a security improvement plan which is the subject of the next article in this series.