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INFORMATION SECURITY AUDITS ARE A REQUIRED BUSINESS PRACTICE

Posted on February 13, 2003 (Accountant's Day)

      Effective Information Security Auditing represents one of the most important corporate governance responsibilities by a Corporate Audit Committee, CIO or IT Executive. It represents one of the most effective ways to manage the risk to both physical and intellectual assets of the business. It is essential that the risks be discovered, measured and reported by an independent third party on a frequent basis so the business leaders can direct and budget the necessary changes to the technical infrastructure.

      If the risk is left undiscovered or unmanaged it may prevent the attainment of goals and objectives by the business and unintended consequences for all stakeholders. The intellectual assets of the business are held in various technology sources which are vulnerable to leakage, misuse and fraud.

      It may not be the intention of anyone to expose your company assets to this threat but every business is at risk. The unintentional loss of confidential data may put you at risk for legal challenge as well as pressure from your competitors to explain and rectify the damage.

      The results from a Information Security Audit provide a number of benefits to the company, the Audit Committee and the Executives who have undertaken the task. The Audit will clearly show what systems are vulnerable to attack and the necessary remediation of those systems to bring them into compliance.

      The additional benefit of the Information Security Audit is to defend the actions of the company in implementation of its technology security and systems.

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      Editors Comment: The WebTrust Security Seal may meet your needs pertaining to corporate governance and web transactions/data exchanges.

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