Six steps to complete a cybersecurity audit
By Jim Bourke; HLB Global Technology & Advisory Services Leader
In today's digital-first world, even the most sophisticated cyber-security plans need more than periodic polishing. That's where a cybersecurity audit comes in—a comprehensive assessment that scrutinises your cyber defences and uncovers hidden vulnerabilities.
An audit differs from a cybersecurity plan: while a plan maps out your strategy, an audit tests it in the heat of battle. And in an era where cybercrime is projected to cost the world a staggering USD 9.5 trillion this year, it's an essential exercise in survival.
Why you need to audit your cybersecurity systems and policies
When it comes to cyber threats, the stakes are rising. According to IBM, the average data breach cost in 2023 reached £4.48 million—a 10% increase over the past year and the highest total ever. That is why regular audits are critical.
An audit is designed to check the integrity of cybersecurity policies, tools, and practices. It gives businesses a data-driven understanding of their current cybersecurity position and helps prevent costly breaches, downtime, or compliance failures.
Regular auditing not only tests your security measures but also helps you stay ahead of threats.
Key benefits of a cybersecurity audit
How to design a cybersecurity audit
Designing an audit is a structured process that begins with understanding what needs to be assessed. Below are the essential steps to build a successful cybersecurity audit:
Step 1: Identify risks and prioritise auditable areas
The first step is identifying the most significant threats. Every organisation faces unique risks—phishing, ransomware, or insider threats. The key is to prioritise the areas that, if compromised, could cause the most damage.
Step 2: List auditable items, procedures, and policies
Once the risks are mapped, the next task is to take inventory of what needs auditing. This includes the obvious: firewalls, encryption standards, and user access controls. However, it also includes overlooked policies, like how often employees must update passwords or whether multi-factor authentication is applied universally.
Step 3: Review access controls and privileges
Access control audits are crucial as they ensure that employees have only the access they need—no more, no less. This process is vital in preventing internal breaches or abuse of privileges. It's not uncommon for organisations to find that former employees retain access to systems long after their departure, creating a significant security risk.
Such oversights can lead to financial losses or damage a company's reputation. By regularly reviewing and tightening access permissions, businesses can maintain transparency and prevent unauthorised users from accessing critical systems.
Step 4: Gather and review collected data to identify security vulnerabilities
Once the audit scope is set, the next step is gathering the relevant data for analysis. This involves collecting logs, security reports, and audit trails. It is important to check whether the organisation's security measures are working and to identify areas for improvement.
According to ISACA, this stage typically includes several essential tasks. First is risk assessment, which involves identifying the organisation's critical assets, potential threats, and vulnerabilities attackers could exploit. Following that, vulnerability scanning tools comb through the IT infrastructure—covering operating systems, applications, and networks—to highlight any security gaps. Finally, penetration testing is conducted to mimic real-world attack scenarios, helping pinpoint any remaining vulnerabilities that could be exploited.
Step 5: Evaluate security training and awareness
People are often the weakest link in cybersecurity. Review your organisation's employee training programs and determine whether staff are up-to-date on recognising threats like phishing or social engineering attacks.
Step 6: Document findings, make recommendations and ensure follow-up
Summarise the audit results in a clear, concise report that includes actionable recommendations for improving the organisation's security. This ensures the organisation can strengthen defences based on the audit's findings.
After the audit, the company should verify that the suggested improvements are put into action, which may include a follow-up audit or review.
Results of a good cybersecurity audit
A thorough audit will not only uncover vulnerabilities but provide a clear path to remediation.
Audits are designed so that companies emerge with more robust defences, reduced incident response times, and a clearer understanding of their vulnerabilities. Regulatory compliance is another critical outcome, as failing to meet regulatory standards can result in fines reaching the millions. For many, an audit is about more than security—it's about protecting their reputation.
Guidance you can trust
At HLB, we offer expert guidance to ensure your cybersecurity audit is thorough and effective. Our team can help you prioritise risks, assess your systems, and implement necessary changes to safeguard your organisation.
Reach out to HLB's technology advisory services for tailored audit solutions.
