In today’s fast evolving digital landscape, cybersecurity is not just an IT issue; it is a critical business risk that demands the attention of your entire leadership team. The typical assumption that “our IT team has cyber covered” can lead to a false sense of security and disastrous consequences for the business. Cyber threats are constantly evolving, and a complacent approach can leave your organization vulnerable to attacks that can compromise sensitive data, disrupt operations, and damage your valuable reputation.
As decision makers and business leaders, it is time to recognize that having a suitable cybersecurity program requires both a proactive and comprehensive strategy that involves:
- Conducting regular cybersecurity maturity assessments
- Implementing information security governance, including a formal committee to manage these risks
- Documenting written information security policies and procedures
- Regular employee training, including how to spot and report threats
- Leveraging the proper cybersecurity expertise to monitor your environment, provide advice, and help keep the company ahead of the latest threats
- Implementing the right tools (e.g., SIEM, IDS/IPS, etc.) and designing processes to manage and use the tools effectively
- Implementing and testing backups of your data
- Creating and testing a formal incident response and recovery plan
- Purchasing the right type and amount of cyber liability insurance, and
- Performing penetration testing (after completing the previous steps)
By asking the right questions now and fostering a culture of cybersecurity compliance, you can help ensure that your organization will be prepared to defend itself against cyber threats and manage IT risk effectively.
Here are some initial questions to ask yourself to determine if your company may need to enhance its cybersecurity program:
- How often does your IT team conduct comprehensive security audits and vulnerability assessments?
- Relying solely on the IT team’s assurance without regular, thorough evaluations can leave your organization exposed to undetected threats and weaknesses.
- What measures are in place to ensure continuous cybersecurity education and training for all employees?
- Cybersecurity is a shared responsibility. Without ongoing training, employees may inadvertently become the weakest link, falling prey to phishing attacks or other social engineering tactics.
- How does your organization stay up-to-date with the latest cybersecurity threats and adapt its defenses accordingly?
- Cyber threats are constantly evolving. Assuming that your current defenses are sufficient without leveraging the proper expertise, and actively monitoring and improving your environment, can lead to significant vulnerabilities.
- What incident response plan does your organization have in place, and how often is it tested?
- Having a robust incident response plan is crucial, but it must be regularly tested and updated to ensure it is effective in the event of a cyber attack.
- How does your organization manage third-party vendor risks and ensure their cybersecurity practices align with your standards?
- Third-party vendors can introduce vulnerabilities to your company if they are accessing, storing, or processing your data. It’s important to assess and monitor their cybersecurity measures to prevent potential breaches.
If you have any questions or feel you might not have implemented some, or many of the cybersecurity program steps we discussed, please do not hesitate to reach out. Don’t become a cybersecurity disaster statistic. At SingerLewak LLP, we are here to help!
Carl Grifka specializes in internal audit, governance and risk assessments, Sarbanes-Oxley (SOX) Act...More
Bob is a highly accomplished CPA, CITP, and CGMA who serves as the Lead Partner for SingerLewak̵...More
