Each year, there is a growing number of new cybersecurity threats that businesses need to be prepared for. With increased reliance on cloud computing technologies and third-party solutions, digital attack surfaces are expanding quickly, meaning most businesses need to put additional efforts into their security preparedness strategies.
However, despite ongoing awareness of the importance of thorough cybersecurity planning, not all organizations have an understanding of where and how new security vulnerabilities in their systems and processes are materializing. This can make budgeting and prioritizing threat mitigation strategies difficult and often leads to wasted time and resources.
Cybersecurity audits play an important role in helping organizations maximize the impact of their security initiatives while supporting their ability to maintain better cybersecurity hygiene.
What is a cybersecurity audit?
Most businesses conduct internal audits for all sorts of reasons. Whether confirming financial information or ensuring safety standards are being met in warehouses and factory floors, audits can be essential to the operational health of an organization.
However, cybersecurity audits have become equally as important over the years. These highly focused due diligence checks provide businesses with a clear overview of how well their systems, networks, and supporting workflows are keeping their organization protected from modern security threats.
Cybersecurity audits serve a number of useful purposes and involve a variety of helpful initiatives, including:
- System Vulnerability Checks – Formal cybersecurity audits utilize external partners with access to a range of highly sophisticated tools to run in-depth tests of business software, hardware, and network configurations to look for potential weak points that can be exploited. This also involves reviewing business policies and procedures to look for operational inadequacies.
- Vendor Risk Assessments – With so many businesses extending their infrastructure to third-party providers, it’s important to know how well each of these partners is implementing their own security protocols to protect your digital assets. Security audits can incorporate detailed vendor risk assessments that help to identify, assess, mitigate, and monitor outside risks to help organizations maintain a strong cybersecurity posture overall.
- Penetration Testing – Penetration testing services are another commonly leveraged resource when conducting thorough cybersecurity audits. These services employ teams of ethical hacking professionals contracted to run simulated attacks against businesses in the same manner that real-world attackers would. The insights gained from these scenarios are highly valuable in helping businesses pinpoint specific security flaws that need to be addressed and help organizations prioritize their threat mitigation strategies.
- Security Compliance Reporting – There is a growing number of industries that are adopting strict regulatory standards that businesses need to comply with. Cybersecurity audits are invaluable when helping organizations understand how well they’re performing against certain data security and compliance requirements, ensuring they’re able to avoid heavy non-compliance penalties.
Is a cybersecurity audit really necessary?
In most cases, a cybersecurity audit isn’t a mandatory requirement when planning and executing security planning initiatives. However, they can significantly improve the accuracy and reliability of security-related efforts while helping businesses get the most value out of their cybersecurity investments.
For example, there are a variety of cybersecurity solutions on the market that offer a wide range of features to protect business assets. However, very few platforms or services maximize protection across every area of business operations. Because of this, it’s important for organizations to understand their current strengths and weaknesses to minimize wasted resources.
Cybersecurity audits help to achieve this and help businesses overspend in security areas where they already have adequate protections. Instead, a comprehensive audit can help a business plan a long-term sustainable strategy for addressing the highest priority items first and then gradually filling less critical gaps over a longer period. This helps organizations build and maintain more reasonable security budgets and ensures each decision they’re making directly reduces their overall cyber risk.
How do cybersecurity audits work?
Not all cybersecurity audits go through the same exact process. There are many different types of audits a business could get that focus on various aspects of security. However, below are the basic elements of a cybersecurity audit:
- Planning stages
In the first phase of a cybersecurity audit, auditing teams will work with company stakeholders to outline the procedures required to successfully navigate the audit process. This may involve reaching out to various third-party vendors as well, who might also be assessed to ensure they’re aware of and able to support any necessary auditing procedures. - Gathering key data
The amount and quality of information gathered will significantly impact the accuracy and effectiveness of the results. Auditors will first work to pinpoint any relevant business assets (including all relevant software, hardware, and networking components) that require evaluation. They’ll cross-reference these assets with documented company policies to ensure best practices are being followed on their usage. They’re also likely to meet with various employees or key stakeholders to gain even deeper insights into the company’s operations. - Analyzing all information
When the auditors have gathered all the necessary information, which can have varying timelines depending on the organization’s size, they will organize and classify it. This data is then analyzed and compared against established benchmarks to help pinpoint both the strengths and areas for improvement in active security measures. - Reporting key findings
After the audit has been completed, organizations will have findings presented to them using a combination of data visualization tools and detailed reporting. These reports will usually include comparative analyses and severity grading structures, highlighting areas that should be worked on sooner than others. The goal is to provide a clear and concise overview of the audit’s results, helping the organization address any and all identified issues as quickly and effectively as possible. - Creating a remediation plan
Most auditing partners do more than just provide finalized reports; they also work with businesses to build and incorporate remediation plans. These may include various recommendations for improving security measures, such as upgrading or replacing systems and establishing new security policies to better strengthen the organization’s security posture.
Start strengthening your cybersecurity readiness
Ensuring the effectiveness of your security investments and planning is critical to make sure you’re prepared for the latest cyber threats. A formal cybersecurity audit can provide your organization with the transparency it needs to feel confident in its ability to minimize security risks while safeguarding critical systems and customer data.
Nazy Fouladirad
Nazy Fouladirad is President and COO of Tevora, a global leading cybersecurity consultancy. She has dedicated her career to creating a more secure business and online environment for organizations across the country and world. She is passionate about serving her community and acts as a board member for a local nonprofit organization.
