Understanding IT Security Audits: A Guide to Protecting Your Organization

Estimates show that cybercrime will likely cost organizations around the world $10.5 trillion annually by 2025. IT security is critical, and with cybercrime continually rising, organizations need to emphasize protecting their companies. If a hacker launches a successful attack, your customer data (in fact, your business) could be at risk. 

No organization is entirely safe from IT safety threats. After all, every company relies on data in one way or another. There are different measures to maintain a suitable level of security, such as an IT security audit. 

What Is a Security Audit, and Why Does It Matter? 

A security audit examines your organization’s IT infrastructure, assessing its ability to protect against potential threats. Typically, using an audit checklist allows one to understand how existing security measures compare to best practices, federal regulations, and industry- accepted cybersecurity hygiene standards.  

A third-party security audit is important if you have either outsourced your IT or have an in-house IT department. Having an independent IT assessor will give a non-biased opinion of security standards. The auditor will assess security in relation to: 

1. Physical components and the environment that houses your information systems.
2. Software and applications that are currently part of your system.
3. Internal and external network vulnerabilities.
4. Human elements (i.e., how employees collect, store, and share sensitive information).
5. Written information security policies and procedures. 

The Growing Importance of IT Security Audits

A cyberattack happens every 39 seconds, so implementing security that can handle potential threats protects your organization and customers. When a third-party vendor completes a security audit, organizations feel prepared for the future, knowing they received a comprehensive overview of their security services from an independent organization. IT departments and leaders can use the information gathered to build risk assessment plans and mitigation strategies. If your organization handles sensitive data, it is especially important to promote best practices and put IT security protocols in place. 

Why IT Security Audits Are Crucial for Protecting Your Business 

An IT security audit tests a set of internal and external controls against an organization’s information security policies. Internally, it confirms procedures, policies, and security controls. Externally, it compares the IT system against regulations such as the Health Insurance Portability and Accountability Act (HIPAA) and International Organization for Standardization (ISO) standards. By comparing an organization's practices with the nationally accepted IT standards, leaders can identify areas that need improvement. 

What Does a Security Audit Consist Of?

A security audit examines various elements of your IT infrastructure. This can vary depending on what systems you use, but some common assessment components are: 

• Operating systems 
• Applications 
• Servers 
• Cloud business applications 
• Data management and retention policies 
• Incident response and disaster recovery 
• Written information policies and procedures 

There are many compliance and cybersecurity strategies, and the one your business needs to adopt will determine the steps of the security audit. A typical audit will likely consist of five key steps. 

Step 1: Define IT Security Audit Criteria 

This establishes which cyber security standards the organization needs to meet and which security features need testing. If your IT team has any security concerns that external criteria might not cover, you can also maintain a record of your company's internal audit standards and include them. 

Step 2: Train Employees to Minimize Risk 

Employees can potentially be one of your biggest vulnerabilities. About 94% of organizations have suffered insider data breaches. Human error can lead to significant issues, so it is vital to know which employees have access to sensitive data. For example, phishing tests are commonly used to assess staff training. To mitigate cyber threats, all employees should frequently attend compliance and cybersecurity risk management training. 

Step 3: Enhance Identity Access Management for Stronger Protection 

One of the most important standards is keeping track of network activity and event logs, which helps monitor networking systems, making sure only authorized personnel are accessing restricted data. A review of identity access can greatly mitigate attacks such as ransomware attacks. 

Step 4: Identify and Address System Vulnerabilities 

A security audit should highlight any major security vulnerabilities, such as outdated security patches or employee login details that haven't changed over the last year. Having this assessment done before conducting any penetration testing or vulnerability assessments will help make things more efficient. Vulnerability scanning can be done internally and externally for all devices to determine if there are holes in the cybersecurity wall protecting the assets in data systems. 

Step 5: Implement Proactive Security Measures 

After assessing vulnerabilities and training staff on those deficiencies, it’s time to implement remediation solutions. This should not be a one-time fix, but an ever-evolving process to make certain the company is implementing controls to prevent fraud and other IT security issues over both the short- and long-terms. 

Two Types of Security Audits  

There are several types of security audits, and depending on your organization and type of data store, one might be more suitable than the other. 

NIST Security Audit

The National Institute of Standards and Technology (NIST) is a government organization that provides solutions that ensure quality assurance, measurement traceability, and documentation standards. This involves criteria, practices, and guidelines related to its cybersecurity framework (CSF). An NIST audit covers five core areas: 

• Identify 
• Protect 
• Detect 
• Respond 
• Recover 

CIS Controls 18 Security Audit

The Critical Security Controls (CIS) audit, formally known as SANS Critical Security Controls (SANS Top 20) is composed of 18 safeguards that serve as a framework for cybersecurity best practices. One impactful element of CIS is penetration testing to expose weaknesses and areas for improvement. This is conducted through:  

• Stimulating attacks. 
• Identifying weakness.  
• Assessing resiliency.  
• Improving defenses.  

Your Organization’s IT Systems

Understanding the importance of cybersecurity is the first step in protecting your organization. To learn more about cybersecurity and why an audit is right for you, contact an EisnerAmper professional below.