A security audit means systematic evaluation of the company’s IT system. It includes assessing the security, information handling processes, and examining the user practices.
Next comes the critical question, why should every business undergo security audits? The foremost reason is that hackers are everywhere.
As per the news reports, cyber-attacks are increasing by leaps and bounds. Cybercrime has skyrocketed. This can be in any form, such as security breaches and ransomware attacks.
So given this, the business should undergo security audits regularly. That is not all.
Benefits of conducting regular security audits
Here are a few benefits which can be achieved when a business undergoes regular security audits.
- A security audit protects the critical data resources of a
- A security audit helps to check and verify the current security system. The potential sites for hacking or loose ends can be easily identified. In other words, a security audit helps to weigh the company’s current security structure and existing protocols. This, in turn, helps to define and set a security standard for the company.
- Once the security audit confirms the loopholes, immediate remedial measures can be taken. The identified weaknesses in the security system can be resolved and strengthened to mitigate hacker risks.
- A security audit helps to formulate new security policies to protect the company.
- By uncovering the weakness and loose ends in the system, a security audit aids in proper risk assessment. The company can reduce costs that usually result from a malicious cyber-attack.
- Once the security audit is completed, a summary report is presented. This is a legal requirement. Also, the report details various preventive measures that can be undertaken to strengthen the defenses and improve the efficiency of the security system.
- A security audit is required as per law in many countries. So, the audit helps the company check how compliant it is with the regulations and what can be done to conform to whatever it is lacking.
- By undertaking a security audit, security flaws and other potential hacker points are uncovered. By being made aware of these flaws, the company can make informed decisions in the future.
- A security audit prepares the company for emergency response in case of a cybersecurity hack or breach.
Listed above are just a few benefits or advantages of having a security audit. However, to reinforce the belief that a business needs a security audit, please read on further.
Today, the security audit is usually conducted by either Federal or State Regulators, External Auditors, Consultants, or corporate internal Auditors. The Security audit is conducted in an organized and systematic way.
How to conduct a security audit?
Security audits should always be conducted by a recognized company. You should take the help of a security audit company such as Bai Security which is a leading IT security assessment firm. There are three ways to conduct a security audit. They are:
- Black Box audit: The Auditor is not provided with any information about the company.
- White Box Audit: The Auditor is provided detailed information such as the source code, employee access, etc.
- Grey Box audit: In this type of approach, some information is given to start the auditing process.
Once the approach is decided, the security audit concentrates on the methodology, which involves the below four steps:
- Penetration Test: The Auditor tries to break into the company infrastructure mimicking a real-life hacker.
- Compliance test: Limited parameters are checked to see if the company meets the legal security requirements.
- Risk Assessment Test: Under this test, critical resources are examined if there is any threat to them during a security breach. Vulnerable areas are determined to find possible security risks.
- Questionnaires: The last approach would be arranging for questionnaires by which existing security standards can be analyzed. You can use a tool such as Typeform to create questionnaires.
The security audit will be helpful as it focuses on three main points.
- Current security state: Since cybercriminals constantly innovate and find new methods to attack, the current security will always have an expiry date. So, security audits will need to be constantly checked and updated.
- Change implementation: For a security system to work perfectly, it should have a continual plan. With a continuity plan, all types of potential risks can be addressed. The audit will review what kind of hardware and software comprise the system, updates, improvements, etc.
- Total access is a challenging prospect. So, the audit will ensure and record how much administrators can control and how much users have access.
In this cybercrime-filled world, companies cannot afford to be complacent in this regard. There are many customized tools available that can conduct a security audit. These tools can help in narrowing down the precise, weak points in security. However, just installing the latest cybersecurity tool will not help in the long run. A regular and systematic security audit is the most beneficial. Usually, a security auditor conducts staff interviews, undertakes vulnerability scans and a series of tests. Based on all these, a comprehensive evaluation of the security blueprint is done. This helps to assess the company’s IT infrastructure and reinforce the defense systems.