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IT & Network security audit

Digital transformation is more important than ever

IT & Network Security Audit

Over the years, the online business landscape has evolved due to rapid advancements in technology and the adoption of assets that offered feasible IT environments to organizations that made them more secure and efficient for running their operations online.

However, while expanding online, cyber risks also increased with more targeted attacks against organizations ranging from small to large to disrupt their businesses and revenue. Since the last decade, there has been a steady increase in cybercrimes and newly introduced hacking techniques.

Today, we are seeing thousands of businesses getting targeted with malware, DDoS attacks, and whatnot. According to a recent report by the FBI, during this COVID-19 pandemic, cyberattacks on businesses have increased by 300% more. Another report by IBM states that the average cost of a data breach reached $4.24 million in 2021 from $3.86 million in 2020.

Performing an IT security audit can help organizations by providing information related to the risks associated with their IT networks. It can also help in finding security loopholes and potential vulnerabilities in their system. Thereby patching them on time and keeping hackers at bay.

What is IT Security Audit? 

An IT security audit is a comprehensive assessment of an organization’s security posture and IT infrastructure. Conducting an IT security audit helps organizations find and assess the vulnerabilities existing within their IT networks, connected devices, and applications. It gives you the opportunity to fix security loopholes, and achieve compliance.

An IT security audit also comprises the physical part. In which, the auditor verifies physical hardware access for security and other administrative issues. However, this only covers the non-physical part of an IT security audit.

Benefits of IT Security Audit

As we mentioned, an IT security audit reveals underlying vulnerabilities and security risks in an organization’s IT assets. Identifying risks, however, has a positive rippling effect on the organization’s overall security. How? We discuss them point by point below:

  1. Weighs your current security structure and protocols and helps you define a standard for your organization with the audit results.
  2. Mitigates hacker-risks by discovering potential hacker entry points and security flaws well in advance.
  3. Verifies how compliant your IT infrastructure is with top regulatory bodies and helps you conform in accordance.
  4. Finds lag in your organization’s security training and awareness and helps you make informed decisions towards its betterment.

Types of IT Security Audits

 1. One-time assessment

This includes an assessment that is carried out on an ad-hoc basis, or under special circumstances, such as the introduction of new infrastructure. 

2. Tollgate assessment 

This type of audit is designed to determine whether new technologies or processes can be successfully introduced into your environment, and normally produces a binary outcome, such as “Yes”, or “No”. 

3. Portfolio assessment 

This is a regularly scheduled audit, which is used to verify that your security processes and procedures are being closely adhered to and that they are still relevant to the current threat landscape. 

IT security standards

While financial auditing is demanded by tax authorities, IT security audits are usually driven by a requirement to comply with a data protection standard – driven by contractual obligations or industry conventions. The main standards that require an audit for compliance proof are:

  • PCI-DSS – PCI-DSS is a payment card processing requirement. A business will not be able to take payments from customers without PCI-DSS accreditation. The PCI-DSS standard is not interested in the security of a business’s entire IT system, just payment card details, and customer personal information.
  • HIPAA – This standard applies within the health industry and those businesses that supply it. It is concerned with the personal information of patients.
  • SOX – SOX stands for the Sarbanes-Oxley Act. It is a national legal standard in the USA that aims to prevent businesses from falsifying reports of their profitability and financial viability. Although this standard only applies to US businesses, it needs to be implemented in all overseas subsidiaries of US companies as well.
  • GDPR – This data protection standard applies to EU countries. However, any non-EU business that wants to do business in the EU. It specifically relates to the security of personally identifiable information (PII) held in digital format.
  • ISO/IEC 27000 – A family of standards produced by the International Organization for Standardization (ISO). These standards are not directly. However, they are often requirements set by businesses when writing contracts with associate companies, such as suppliers.

What Should a Network Security Audit Report Include?

A typical network security audit includes:

  • An in-depth analysis of security measures.
  • Risk assessment (processes, applications, and functions).
  • A review of all policies and procedures.
  • Examination of controls and technologies protecting assets.
  • Firewall configuration review (topology, rule-base analyses, management processes and procedures).

Network Security Audit Checklist

An IT security audit is a comprehensive assessment of an organization’s security posture and IT infrastructure. Conducting an IT security audit helps organizations find and assess the vulnerabilities existing within their IT networks, connected devices, and applications. It gives you the opportunity to fix security loopholes, and achieve compliance.

An IT security audit also comprises the physical part. In which, the auditor verifies physical hardware access for security and other administrative issues. However, this only covers the non-physical part of an IT security audit.

Benefits of IT Security Audit

As we mentioned, an IT security audit reveals underlying vulnerabilities and security risks in an organization’s IT assets. Identifying risks, however, has a positive rippling effect on the organization’s overall security. How? We discuss them point by point below:

  1. Weighs your current security structure and protocols and helps you define a standard for your organization with the audit results.
  2. Mitigates hacker-risks by discovering potential hacker entry points and security flaws well in advance.
  3. Verifies how compliant your IT infrastructure is with top regulatory bodies and helps you conform in accordance.
  4. Finds lag in your organization’s security training and awareness and helps you make informed decisions towards its betterment.

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