Why is a Cybersecurity Audit Important?

In the first half of 2022, there were 236 million plus cyberattack cases. This unprecedented growth in such instances is why a cybersecurity audit is essential for a business to run smoothly. Data breaches are way more common than you think. According to facts, almost one billion emails were leaked in one year, which impacted one in every five users.

Considering all the cyberattacks, cybersecurity audits are not just a choice but a necessity. In this article, we will learn about cybersecurity audits, their pros and cons, as well as internal and external audits, and best practices. Also, learn how you can run a cybersecurity audit yourself.

What is Cybersecurity?

Cybersecurity protects computers, servers, phones, and other devices from attackers. These attackers can access and steal information or completely take your system offline. Cybersecurity helps individuals protect themselves from cyberattacks and malicious software (viruses).

What is a Cybersecurity Audit?

A cybersecurity audit is a detailed and complete checkup of an organization, or business to ensure there are no security risks. Cybersecurity audits use multiple technologies and processes to elevate an organization’s cybersecurity levels.

Cybersecurity audits should be routine (more on this later). However, it’s crucial to remember that frequent audits are useless if the audits are ineffective. Regularly ensuring effective audits is the safest solution. Audits can be conducted by security experts, technicians, or third-party organizations.

What is the purpose of a Cybersecurity Audit?

The purpose of a cybersecurity audit is to save your organization’s or business’s data from getting leaked or stolen. On average, a cyberattack that exposes private business data costs $4.35 million to a business. You can save this staggering amount by being more responsible with your audits.

What is included in a Cybersecurity Audit?

Now that you understand the fundamentals of a cybersecurity audit, let's take a look at the things that are included in a cybersecurity audit.

Data Security

Data security is the main purpose of cybersecurity. As discussed, it is to protect data from malicious actors. Auditors access and give you complete control over what kind of information should be shared with particular types of groups. The authorized user will be the only one in control.

Auditors also analyze and safeguard your encryption practices, ensuring only those with permission can access it. It helps protect your data while it is stored and moved between systems.

Network Security

This audit focuses on safeguarding your network from possible threats. These threats include unauthorized access, disruptions, or network security attacks. The auditors confiscate the data points—where devices connect to your network—and ensure a proper anti-virus system is installed to secure them.

Auditors also access and identify your network traffic to ensure no suspicious behavior that could indicate a potential data breach. Finally, auditors help find and eliminate vulnerabilities in network-related devices such as routers and firewalls.

Physical Security

Audits also mean physical security of your devices and data centers from unauthorized access or damage. Auditors examine physical devices like laptops and servers to ensure safety precautions are in place, such as screen locks and disk encryption to prevent data theft.

Types of Cybersecurity Audits

So far we've identified the critical components of audits. Now, let’s take a detailed look at the types of cybersecurity audits.

Compliance Audits

This is the most common type of audit regarding legal affiliations. Many organizations need help with legal problems and tirelessly look for solutions. This audit focuses on understanding the demands and then forwarding them to an existing security solution to identify gaps. However, some argue that it is not a comprehensive cybersecurity audit. However, it helps identify security gaps that attackers can easily target, which is an important role of a cybersecurity audit.

Risk Assessment Audits

This is a super complex and time-consuming audit. It could be more cost-effective. Unlike others, it does not provide a complete view of an organization’s security hierarchy. Just as the name suggests, it focuses on potential threats, but in the process, it uncovers vulnerabilities, making it susceptible to attacks and breaches.

Penetration Audits

This audit is responsible for finding weaknesses. However, this can also be achieved using automated tools and devices. Automation combined with human brain power can help pick up even the tiniest security concerns.

How to Perform a Cybersecurity Audit: The 6 Steps to Enhance Security

Performing a cybersecurity audit can help create an effective security strategy that cannot be breached. Learn how to perform a cybersecurity audit.

Step 1: Planning the Objectives

The first step is to clearly state your goals and objectives for the audit. The auditor should understand the organization’s work, security system and the risks before proceeding.

Step 2: Gathering Information

Once the objectives are clear, it’s time to gather information. This can be done through risk assessment or penetration testing.

Step 3: Evaluating Effectiveness of Security Controls

The auditor must assess the encryption and incident response controls after gathering the data.

Step 4: Reviewing Data

The auditor should check to see if the security measures are working to prevent weak spots, vulnerabilities and potential risks from incoming threats.

Step 5: Reporting

The auditor should report the findings to the organization. This report should include the risks, vulnerabilities, potential threats, and recommendations to solve the issues as well as the best practices to prevent future attacks.

Step 6: Follow-Up

The auditor should follow up with the organization or business. This is to ensure they are implementing the recommendations, following the best practices and safety measures to ensure their security systems are in optimal condition and are not vulnerable to attacks.

Internal vs. External Cybersecurity Audits

As discussed, cybersecurity audits can be performed by security units (internally) or by any third-party services (external). Let’s examine both and their pros and cons.

Internal Cybersecurity Audits

The internal audits are done by technicians, security, or information technology (IT) experts within the organization or a business. Companies use their tools and processes to evaluate security concerns for these audits.

Internal audits are much more cost-effective than external ones, which allows us to conduct these more frequently. Another massive advantage is that you could use the audit to target the areas that need proper care and monitoring.

External Cybersecurity Audits

External audits are performed by third-party services or security experts. Most of the time, these are reliable and can help point out severe security issues. They also use advanced tools, devices, and services to identify potential gaps in your business’s security protocols.

These audits are super practical because they bring a fresh, unbiased perspective after examining the entire security systems. Going with the external audit can help build confidence in your support system after letting a reputable security service run through your system; this confirms proper security.

Cybersecurity audits are essential to prevent data breaches and to keep intruders outside your servers. Regular intervals help businesses find their weak spots. However, running regular cybersecurity audits can be expensive. To combat this issue, you can utilize both internal and external audits wisely by using internal audits regularly and running an external one occasionally. 

How Often Should You Conduct a Cybersecurity Audit?

There is no definite answer to this question. The audits can be as frequent as an organization or a business decides. There is no one-size-fits-all. Below are a few circumstances where an audit is necessary.

Changes in Security Infrastructure. A cybersecurity audit is critical to ensure there are no gaps after a security infrastructure change.

Security Issues. It’s essential to run an analysis after your company detects any malware or data breach. It helps identify the root cause, allowing you to take the necessary safety measures and precautions to prevent future attacks.

Regulatory Intervals. It’s important to run regular checkups, whether internal or external. Regular audits keep the risks at bay and ensure your security systems are in optimal condition.

External Factors. As mentioned earlier, cybersecurity problems have become quite common. We often hear news about massive data breaches that impact thousands of businesses. Under such conditions, an audit is necessary.

Conclusion

A cybersecurity audit is essential to help prevent valuable data from being leaked. Ultimately, they save companies from losing lots of money and reputation. That’s why it is incredibly important to perform regular audits for businesses. They keep your business safe while also identifying weaknesses and vulnerabilities in your security systems. This way, you can create a more secure environment for your business and your customers.