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Adopting the principles of the three Line of Defense (3 LoD) is an important step to cybersecurity risk management regulatory compliance. The 3 LoD model was developed by the The Institute of Internal Auditors Inc. and adopted by many regulators, for the management of risks including credit, market and operational risk and used by banking regulators to evaluate capital adequacy. The 3rd LoD that is audit (internal and external), plays a critical independent role in the assurance of cybersecurity risk management. Assuring that both the 1st and 2nd Lines adequately identify, manage and have oversight of cyber risk, and that boards have the appropriate governance in place to attest cyber risk.
A critical component of an organisations cybersecurity risk management is its cybersecurity controls framework. NIST recently updated its Cybersecurity Framework (CSF 2.0) profile. Updating the standards for cybersecurity controls that organisations must adopt to mitigate cybersecurity risks and demonstrate regulatory compliance. Required under the SEC Final cyber rule, EU NIS 2 and DORA.
So it’s a pleasure for myself and @Thaddeus Dziekanowski to be presenting on NIST CSF 2.0 and the importance of cybersecurity controls in cybersecurity risk management regulatory compliance for the The Institute of Internal Auditors Inc. on the 23rd of April at 12pm ET. Taking the Veritas GRC CSF 2.0 and board cyber education programs and discussing the important role that internal audit plays in board and organizational cybersecurity risk management assurance and cybersecurity regulatory compliance.
Brian D. McCarthy Rich Waite, M.Ed. George Sawyer Rachel V. Rose, JD, MBA
ECIIA | European Confederation of Institutes of Internal Auditing European Parliament European Union Agency for Cybersecurity (ENISA) Office of the National Cyber Director, The White House U.S. Securities and Exchange Commission
#cybersecurity #cyberriskmanagement #internalaudit #3lod #cyberregulation
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