Perspectives

Cybersecurity: The changing role of audit committee and internal audit

Among the most complex and rapidly evolving issues companies must contend with is cybersecurity

With the advent of mobile technology, cloud computing, and social media, reports on major breaches of proprietary information and damage to organisational IT infrastructure have also become increasingly common, thus transforming the IT risk landscape at a rapid pace.

International media reports on high-profile retail breaches and the major discovery of the Heartbleed security vulnerability posing an extensive systemic challenge to the secure storage and transmission of information via the Internet have shone a spotlight on cybersecurity issues. Consequently, this has kept cybersecurity a high priority on the agenda of boards and audit committees.

In this report, we discuss:

  • The role of the Internal Audit and the Audit Committee
  • A framework for Cyber Risk Management
  • The Board’s involvement – looking ahead
Cybersecurity: The changing role of audit committee and internal audit
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