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Inside Internal Controls

News and discussion on implementing risk management

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cyber risk assessment

Common sense talk about risk heat maps and more

Only when the business impact is understood does it make sense to get into the details of which risks to which information assets should be mitigated and how.

 

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A proactive approach to cyber risk management

It is not sufficient to say that cyber risk is high, medium, or low. The leaders of the organization need to be able to figure out what is the right level of resources to allocate to cyber defense and response; what is the right level of attention at board and executive committee level; and what should be communicated to shareholders and others.

 

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Making intelligent and informed decisions around cyber

The experts continue to bombard us with their advice, insight, and guidance for addressing cyber.

 

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The cyber heat map

Vince Dasta of Protiviti makes a good point (pun intended – as will be explained shortly) in Cyber Risk Assessment: Moving Past the “Heat Map Trap”.

 

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Stop managing and start taking risk

Success in business is taking the right level of the right risks. It all comes down to helping leaders make informed and intelligent decisions.

 

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UK government guidance on risk and cyber: the very good and the very bad

The National Cyber Security Center (NCSC) is a part of the UK’s Government Communications Headquarters (GCHQ). If you are like me, you may have only heard about GCHQ in an unflattering context, that of working with US intelligence agencies to spy on foreign heads of state and hack foreign agencies.

 

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Is there an ROI for investing in cyber or information security?

IS ROI on cyber really as high as it may seem at first glance? At some point, it may be better to consider cyber risk as a “cost of doing business”. If you can’t actually reduce the likelihood of a breach, can you at least increase the likelihood of prompt detection and response?

 

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My cyber confession

Should we give up auditing information security and the management of cyber risk? Not at all. But we should do so with eyes wide open. We should recognize the limitations of our knowledge, tools and techniques and the likelihood that hackers have new techniques that are unknown both to auditors and management.

 

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Internal audit and cyber risk

Deloitte has published good work. One of my favorites is their risk-intelligent white paper series. Recently, they released Cybersecurity and the role of internal audit. It has both superior and inferior advice. Let me walk through it.

 

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