Auditing the cyber security measures taken by a corporation is absolutely necessary in order to prevent sensitive information from being compromised in any way.

An auditor can uncover vulnerabilities in a company’s systems and services by testing and probing those systems and services. This allows the auditor to verify that the organization is adhering to all applicable requirements, such as the General Data Protection Regulation (GDPR) and that it can be checked off against the iso 27001 compliance checklist. 

In this post, we are going to talk about the importance of doing cybersecurity audits and teach you how to carry one out on your own.

What exactly is an audit of cyber security?

During an audit performed by cyber security consulting services, the information technology (IT) systems of a corporation are scrutinized in great detail. Audits are done to make sure that effective policies and processes have been put into place.

The objective is to locate security flaws that permit unauthorized access to sensitive information so that these flaws can be fixed. This includes both external threats, such as vulnerabilities that would allow dishonest people to gain unauthorized access to sensitive information, as well as internal threats, such as inadequate internal practices that could result in employees accidentally or negligently breaching sensitive information.

The cyber security audit services will analyze the level of compliance that currently exists within the organization during the audit. When it comes to securing consumer information and maintaining employee confidentiality, different sorts of businesses are subject to a variety of different standards.

It is necessary for the audit to be carried out by an independent third party that is both informed and objective. The findings of their audits demonstrate to management, suppliers, and any other parties interested that the organization’s precautions are adequate.

The benefits of conducting a security review

An audit of the cyber security system is carried out in order to locate and fix any compliance and security problems that may have been missed.

By carrying out an exhaustive assessment, the organization has the opportunity to improve awareness of its own systems and its ability to resolve vulnerabilities in an effective manner.

This reduces the likelihood of a data breach as well as the consequences that could result from such a breach. For instance, the repercussions that a breach in security might have on a company’s finances can have far-reaching effects.

However, companies have a lot more to worry about than simply the possibility of a disruption to their operations or the possibility of being fined by the government.

If your organisation experiences a breach in its security, both your customers and your vendors may lose faith in it. This is especially true if the breach could have been avoided. It is possible that such parties will choose to move their business elsewhere if the disaster is serious enough.

Insufficiencies in the oversight of regulatory processes are in the same boat. As an example, let us imagine the company can offer proof that it has safeguarded its customers’ information by taking the appropriate precautions. As a direct consequence of this, the government is less inclined to levy heavy sanctions against the company.

On the other hand, if it turns out that the disaster was caused by carelessness, then the implications could be significantly more severe. A relatively light fine can still be disastrous for a business, even if it does not come close to the maximum that is allowable under the GDPR (£20 million or 4% of the organization’s annual global turnover). The GDPR allows for fines of up to one of two amounts: 4% of the organization’s annual global turnover or 2% of the organization’s annual global turnover.

An examination of the cyber defences of a corporation will identify any actions that are not conducted in accordance with regulations. It is possible that this will entail the General Data Protection Regulation (GDPR) of the European Union, the Data Protection Act of the United Kingdom — or both of these laws.

When carrying out an examination, what aspects of a system’s cybersecurity are scrutinized?

An examination of an organization’s information technology security infrastructure is known as a cyber security audit. This category includes everything that the organisation uses, including hardware, software, and the personal gadgets of its employees.

However, this is only one aspect of information security. A comprehensive audit will look further than simply at the robustness of the technical infrastructure. Additionally, the following will be taken into consideration as part of the evaluation:

Encryption of data, limitations on who can access a network, and cautious navigation of sensitive data are all factors that contribute to an organization’s overall security.

Protection against harmful viruses

Access controls, privileged account management, and software patching are all essential controls.

When we refer to ‘physical security,’ we mean the protection of the building(s) and the hardware. This is what we mean when we say ‘physical security’ (i.e., computers, servers, etc.).

Each subcomponent of the audit conducts a check to ensure that the appropriate controls have been established, optimized, and put into place in accordance with the requirements outlined by the governing body.

How frequently should you audit your network to see if there are any holes in it?

At the very least once each year, businesses should perform comprehensive cybersecurity audits. However, depending on a number of different conditions, audits may need to be carried out on a more regular basis.

One of these factors is the size of the organization and the resources that it has available. Due to the substantial financial investment and time commitment necessitated by conducting frequent audits, it is less common for smaller organizations to do so.

On the other hand, larger organizations typically have the means as well as the requirement to carry out audits on a more frequent basis. The number of systems and the level of complexity of the processes involved both contribute to the increased likelihood of a breach in cyber security.

When a company makes significant changes to their operations, it should also perform a cyber security assessment on its systems.