Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Risk

4/6/2018
10:05 AM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Cybersecurity, IT Governance, Emerging Tech Shaping 2018 IT Audit Plans: Protiviti, ISACA

Technological changes give rise to new risks; drive demand for more advanced auditing technology, skills, knowledge and resources.

Rolling Meadows, IL, USA (5 April 2018) — IT security and privacy, IT governance and risk management, regulatory compliance, emerging technology and cloud computing are the key issues impacting IT audit plans in 2018, according to a just-released benchmarking study from global consulting firm Protiviti and ISACA, a global association helping individuals and enterprises in the IT audit/assurance, governance, risk and information security space.

The seventh annual survey of more than 1,300 chief audit executives (CAE), internal audit professionals and IT audit vice presidents and directors worldwide found that most audit plans for 2018 are impacted by the challenge of cybersecurity. Yet more progress is still needed, as one in five organizations, on average, is not including cybersecurity in its audit plans. The most commonly cited reason is a lack of qualified resources, specifically people, skills and/or auditing tools. Such shortcomings need to be addressed with urgency.

“Organizations are putting themselves at risk by not planning for and addressing existing and evolving cybersecurity threats within their audit plans,” said Andrew Struthers-Kennedy, a Protiviti managing director and global leader of the firm’s IT Audit practice. “Planning for cybersecurity not only helps with risk management, but also helps address gaps that can come from digitalization. As more businesses accelerate the pace of technology transformation and increase their reliance on third-party vendors as part of their digital transformation efforts, the number and severity of cybersecurity risks is increasing.”

“Given the increased focus on digital transformation within organizations, it’s important for IT auditors to be involved throughout the entire technology project lifecycle to ensure policies and processes are put in place to mitigate risk,” said Theresa Grafenstine, chair of ISACA’s board of directors. “IT audit leaders looking to become more engaged within their organization’s major technology projects have to build credibility with executive management teams by demonstrating the value that the IT audit function provides.”

Top Technology Challenges

Asked to identify their top technology challenges, IT audit leaders and professionals cited IT security and privacy as their top priority. The top ten responses are:

1.    IT security and privacy/cybersecurity

2.    Infrastructure management

3.    Emerging technology and infrastructure changes – transformation, innovation, disruption

4.    Resource/staffing/skills challenges

5.    Regulatory compliance

6.    Budgets and controlling costs

7.    Cloud computing/virtualization

8.    Third-party/vendor management

9.    Project management and change management

10. Data management and governance

The above listed areas portray an interrelated dynamic – emerging technologies and digital transformation place greater pressure on existing IT infrastructure and cause companies to explore alternative delivery models (e.g. through third-party arrangements), while giving rise to new cybersecurity and privacy risks – all of which require an evolution in the skillset of IT auditors.

The upcoming enactment of the EU’s General Data Protection Regulation (GDPR), which establishes new compliance requirements for information security and data privacy, further highlights the importance of effective data management and protection of organizational data.

“With regulators beginning to look more closely at the security and management of organizational data, we encourage IT audit teams to be aware of all data that an organization processes, where it resides and how it’s being protected,” added Struthers-Kennedy. “While the increase in data capture and processing activities offers opportunities for enhanced business insight and competitive advantage, it also adds significant risk and therefore data protection needs to be prioritized.”

IT Audit’s Growing Importance

It’s clear that IT audit teams are of growing importance in organizations. This survey is the first one since the survey began that finds at least half of all organizations polled have a dedicated IT audit director (or equivalent position). This is a significant increase from just five years ago when only one in three organizations had a dedicated IT audit director.

Still, there is room to grow in how the IT audit function is viewed by business partners and board members within an organization. Overall, less than half of respondents indicate that their CAE or IT audit director meets regularly with their company’s CIO to help develop the IT audit plan. Regular meetings with business leaders can help not only with timely risk identification but also to convey the value audit teams deliver.

About the Survey Report and Resources Available

The 2018 IT Audit Benchmarking Survey consisted of a series of questions in six categories: Emerging Technology and Business Challenges; IT Implementation/Project Involvement; IT Audit in Relation to the Overall Audit Department; Risk Assessment; Audit Plan; Cybersecurity and Skills, Capabilities and Hiring. The full survey report, along with an infographic and a short video, is available for complimentary download from ISACA here and from Protiviti here.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Synergy360
50%
50%
Synergy360,
User Rank: Apprentice
5/2/2018 | 2:19:04 AM
Importance of IT Security
With the advancement of technology, risks are also increasing. The facts that you have shared are truly shocking to read. It is true that many organizations still Today do not pay much attention to the cybersecurity threats and can suffer a huge loss due to its negligence. I would recommend every organization, small or big must add IT Security to their audit plans. Thanks for sharing this article. I am sure it will benefit many readers and they will understand the importance of Cybersecurity.
Where Businesses Waste Endpoint Security Budgets
Kelly Sheridan, Staff Editor, Dark Reading,  7/15/2019
US Mayors Commit to Just Saying No to Ransomware
Robert Lemos, Contributing Writer,  7/16/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: Now this is the worst micromanagment I've seen.
Current Issue
Building and Managing an IT Security Operations Program
As cyber threats grow, many organizations are building security operations centers (SOCs) to improve their defenses. In this Tech Digest you will learn tips on how to get the most out of a SOC in your organization - and what to do if you can't afford to build one.
Flash Poll
The State of IT Operations and Cybersecurity Operations
The State of IT Operations and Cybersecurity Operations
Your enterprise's cyber risk may depend upon the relationship between the IT team and the security team. Heres some insight on what's working and what isn't in the data center.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2018-17210
PUBLISHED: 2019-07-20
An issue was discovered in PrinterOn Central Print Services (CPS) through 4.1.4. The core components that create and launch a print job do not perform complete verification of the session cookie that is supplied to them. As a result, an attacker with guest/pseudo-guest level permissions can bypass t...
CVE-2019-12934
PUBLISHED: 2019-07-20
An issue was discovered in the wp-code-highlightjs plugin through 0.6.2 for WordPress. wp-admin/options-general.php?page=wp-code-highlight-js allows CSRF, as demonstrated by an XSS payload in the hljs_additional_css parameter.
CVE-2019-9229
PUBLISHED: 2019-07-20
An issue was discovered on AudioCodes Mediant 500L-MSBR, 500-MBSR, M800B-MSBR and 800C-MSBR devices with firmware versions F7.20A to F7.20A.251. An internal interface exposed to the link-local address 169.254.254.253 allows attackers in the local network to access multiple quagga VTYs. Attackers can...
CVE-2019-12815
PUBLISHED: 2019-07-19
An arbitrary file copy vulnerability in mod_copy in ProFTPD up to 1.3.5b allows for remote code execution and information disclosure without authentication, a related issue to CVE-2015-3306.
CVE-2019-13569
PUBLISHED: 2019-07-19
A SQL injection vulnerability exists in the Icegram Email Subscribers & Newsletters plugin through 4.1.7 for WordPress. Successful exploitation of this vulnerability would allow a remote attacker to execute arbitrary SQL commands on the affected system.