A Best Practice Guide to Conducting an IT Audit for Your Business
Nowadays, cyber-attacks are no longer rare. News of identity theft and hacking abound. And if you’re digitizing your transactions (e.g., online payments, record keeping), it matters to strengthen your cyber-security measures. But how and where should you start?
Many experts suggest IT auditing is the perfect first step to streamline a company’s online security. In this post, you’ll discover why an IT audit is a must and what are the best practices to follow to do this process effectively.
IT Audit: Why is it necessary?
Did you know that cybersecurity issues have caused companies to lose 200,000 USD on average? This statistics comes from a CNBC report that also highlights that 43% of cyber-attacks are done on small business. Only 14% of these SMEs are ready to block and recover from these attacks.
Through IT auditing, you can avoid the cost of online security threats, from the financial impact, data loss, and decline in credibility.
The need to keep up with the frequent digital updates is another practical reason to conduct an IT audit. Software and IT tools often become obsolete easily as developers roll out updates. But through a regular audit, finding ways to stay abreast of the changes will be easier.
IT assessment procedure helps entrepreneurs determine the existing status and capacity of the cyber-security measures. If the current one is found inefficient, a new security standard will be rolled out.
Best Practices to Use for an Effective IT Audit
To execute a seamless IT auditing procedure, take note of these best practices:
- Set the scope, priorities, and purpose of the audit. Are you going to assess your IT department only or the digital processes of your entire company? Are you looking to ensure confidentiality, maintain integrity, streamline ecommerce features, protect assets, or control online activities? Your answers to these questions help you set the goals and expected outcomes of the audit.
- List the cyber-security threats you’re facing. If you’ve done an audit in the past, refer to it for a list of existing cyber threats. It also helps to know the common online security threats companies face (e.g., malware, phishing, DDoS breaches, and weak login credentials).
- Create effective security measures. You may refer to the corresponding troubleshooting instructions for each threat found. Aside from the technical IT solutions, experts also suggest companies to train their employees on how best to uphold cybersecurity as much as they protect their own physical and mental health when at work. You may start this initiative by setting up backups. Install email and software protection programs. Schedule regular upkeep for hardware and update for the software. It’s also practical to have a network monitoring software to track suspicious activities and the usual target points of cybercriminals.
- Avail of professional services. Yes, it’s good to have an internal team to carry out the IT auditing regularly at a moment’s notice. But it’s also wise to tap the high-end tools and expertise of third-party professionals. You can rely on experts for an honest, critical, and professional output, helping you avoid blind spots.
- Let everyone in your company know. Prior to the assessment, it also helps to organize a company-wide meeting. Orient your team about what’s going to happen. And encourage their full cooperation, especially if they’re required to answer surveys or questions. During the discussion, you could also bring up the company schedule and make sure there are no major events or meetings when the audit is done. Invite third-party IT consultants to help plan out the best time for the assessment to happen.
How Often Should an IT Audit Be Done?
The frequency of auditing depends on many factors. Budget and schedule are major considerations. Assessments are also necessary if you’re rolling out significant changes to your existing systems. The government’s and the industry’s compliance standards also compel companies to do an IT audit to uphold stakeholder agreements.
Considering the potential financial and credibility loss cybersecurity issues could bring, you shouldn’t take IT audit for granted. Why so? In today’s digital age, cybersecurity is as important as health and workplace safety. Ultimately, the purpose of a cybersecurity audit is to protect your digital space and online presence as a way to uphold your contracts with stakeholders.
