Cyber Security Audit: How to Do It and Its Importance

A cyber security audit is a complete review of your systems to identify how prepared they are to protect against different kinds of cyber attacks.

Threats to cyber security are increasing, and so are cyber crimes. Businesses of all sizes should take measures to protect their data, networks, computer systems and websites.

A cyber security audit helps an organization identify weaknesses in its cyber security systems. The audit assesses if the organization’s tools, rules and practices are working as expected.

What Is a Cyber Security Audit?

A cyber security audit is a health check for your digital systems and processes. It is a planned review to assess how prepared you are to respond to different types of threats and risks.

In simple language, it is an examination of the security of your computers, networks, websites, mobile applications, cloud services, and internal processes.

Audits can be performed by employees or outside professionals. Threats are constantly evolving, and therefore, audits should be repeated on a regular basis. One audit is a single picture in time. Several pictures, taken over time, constitute a good business practice.

A business audit does not assure that your business will not experience a cyber attack. This is because no security system will completely provide a guarantee against such attacks. The focus of a business should be to, at the very least, minimize the risks, identify security gaps and enhance the organization’s response to such incidents.

Why Is a Cyber Security Audit Important?

Data is being breached more frequently, and the cost of a data breach is increasing. In India, the 2021 report by IBM noted an average cost of Rs. 25.5 crores (up from Rs. 22 crores in 2020) per breach, and on average, 39,500 records were exposed.

The main objective of a cyber security audit is to detect gaps in security and evaluate the effectiveness of controls.

For instance, your company might use complex or strong passwords, but what about 2FA? An audit can help identify gaps like these.

Further, an audit can help to:

• Identify vulnerabilities in hardware, software, and networks.
• Assess user access to company data.
• Review and assess compliance with security policies.
• Check user training on security practices and procedures.
• Review older and unpatched/unupgraded software.
• Assess backup and recovery procedures.
• Assess cloud and other service accounts and contract security.
• Test and assess the company’s overall security incident management and response processes.
• Assess and help ensure the organization meets its legal/contractual obligations.

Though the above discussion focused on IT infrastructure, similar audits can be conducted on physical facilities as well.

Who Needs an Audit?

Every organization needs a cyber security audit. Size doesn’t matter, and attackers don’t care if your company has 5 employees or 5000. Smaller companies sometimes represent easier targets.

All organizations utilizing technology could benefit from a security review.

These are some examples of businesses that should review their security:

1. Small Businesses
2. Banks and Financial Firms
3. Healthcare Organizations
4. E-commerce Businesses
5. IT and Software Companies
6. Educational Institutions

Steps to Perform a Cyber Security Audit

Here is the process I take with my clients. It is fairly simple, but effective.

1. Set Your Goal

You have to decide why you are doing an audit. Are you looking at a particular standard, law, or policy? Different goals require different approaches.

2. Plan the Work

Decide what you are going to audit. Make a list of your systems, applications, and cloud services. You can only protect your list.

3. Collect Information

Gather information about your IT. Have discussions with your employees and review your policies. Look at your hardware and software and run testing tools to determine what your potential attack surfaces may be.

4. Analyze the Findings

Look at the information and determine what gaps you have. Also look to see what older and less secure software you may be using and prioritize your findings according to the impact that they may have.

5. Write the Report

A good report has a list of risks and a description of each in easily understandable terms. Also provide a suggestion for each.

6. Fix and Recheck

This is the most important step and is often neglected. The audits are meaningless if changes are not implemented. The first and most important risks should be addressed. Then test to ensure the changes were effective.

Be sure to have a good audit plan and the right people involved, and review your processes when large changes occur to your business to help mitigate risk and enhance your business’s digital security.

Also Read: 10 Technological Professions of the Future