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There are 2,200 cyber attacks every day: one every 39 seconds. So why are so many companies still failing to take cybersecurity seriously? Research shows that only 40% of companies with less than $1 billion in revenue actually addressed cybersecurity in their latest technological risk assessments.

You might need to read that again for it to sink in. 60% of companies, when assessing technological risk, don’t include cybersecurity.

This is leaving companies at enormous risk, with gaping, unacknowledged holes in their security at a time when threats are more complex and commonplace than ever.

But here’s some good news: there’s a clear and simple solution. Carrying out regular cybersecurity audits can help you identify areas of concern, make necessary changes, and build a more secure and robust company.

In this post, we’ll show you how.

Do you need to do a cybersecurity audit?

Before we start, let’s run through a few of the main reasons to carry out cybersecurity audits.

° Gain a clearer view of the risks facing your company and what you should be concerned about

° Identify your main weaknesses and areas that urgently need to be addressed

° Comply with relevant regulations like GDPR, PCI DSS, the Australian Privacy Act, and HIPAA

° Make a stronger and more compelling case to company leadership for new innovations and tools

° Learn what you need to do and where you need to invest to build up your security

°

What does a good cybersecurity audit look like?

So what does an effective cybersecurity audit actually look like? There are a few key steps to follow here.

Find out your main goals and priorities

What do you actually want to achieve with your cybersecurity audit? Maybe it’s been a while since your last audit (or maybe this is your first) and you want to get a clear idea of where you stand. Maybe you want to ask leadership for more investment and need data to make a case. Maybe you’re facing compliance challenges.

Getting clear on your goals at the start will help shape your audit and show you where to focus and what to prioritise. It might help to use an established framework like NIST, HIPAA, and ISO standards to guide your efforts. Thinking about the biggest cyber threats facing your industry can also show you where you need to focus.

Get clear on what you’ll audit (and what you won’t)

Cybersecurity audits can be extremely time- and resource-consuming, especially if you aren’t a trillion-dollar mega-corporation. So you’ll probably need to be selective with what you focus on.

Clearly lay out which data systems, processes, tools, risks, and departments you’ll focus on. This should line up with the priorities and goals you set earlier, and it helps you use your limited resources and time more effectively.

Find key threats and weaknesses

One of the main goals of your audit should be to identify the most serious and urgent threats facing your company. A few examples could be:

° Phishing and other social engineering attacks

° Ransomware

° AI-driven attacks

° Endpoint vulnerabilities (like employees accessing data from remote devices)

° Incomplete incidence response plans

° Inadequate or outdated security tools

° Legacy infrastructure that hasn’t been patched or updated to stay safe from current threats

° Poorly trained employees who are unaware of cyber risks and how to stay safe

° Weak passwords

Every company will have its own unique set of vulnerabilities and risks. It’s your audit’s job to find out your exact situation here and what needs to happen next.

Create detailed, clear reports

The work isn’t over once your audit is complete. Now it’s time to share what you learned with other people in your organisation, and this can be the trickiest part of all.

It’s likely that your audit will be used to convince company decision makers about the next steps you want to take (in other words, you’ll be asking for money and need to justify any recommendations).

Remember that only 5% of companies have cybersecurity experts on their boards, so you’ll be making your case to people who probably don’t understand complex cybersecurity language and trends. They have their own areas of expertise. This means you’ll need to tie your findings to wider company goals and be ultra-clear about what they mean in layman’s terms.

Don’t just say what’s wrong; say WHY it’s wrong. What could go wrong if these problems are left unchecked and the change in risk profile if mitigations are put in place? It may help to rank threats according to risk and consequence and assign scores.

Some auditors use two reports: one aimed at C-suite and another, more detailed one for technical and security teams who may be implementing the next steps.

Have a clear next step

Your audit is just the beginning and should have clear, informed recommendations on what to do next. You want to set up new systems and tools and have the means to track them so you can clearly see how close to your goals you are and make adjustments as needed.

Work with the experts

A cybersecurity audit can be a daunting prospect, and there’s a lot to consider and prepare for. At Aryon, we can help you plan and execute your audit, and implement your findings.

Get in touch with us to learn more.